STRK · a monthly cliff, a treasury that keeps releasing, and nothing on the other side.

Starknet pays its validators in newly created STRK. Over the window the token contract minted 37.7M in 29 identical steps of 1.3M, roughly one every three days, and every one of them was forwarded straight across the bridge to stakers. The rate comes from a curve that scales with how much STRK is staked: at about 14% of supply staked it produces close to 1.5% a year, so this is the small, steady half of the supply story rather than the loud one.

This is the loud half. Early contributors and investors hold 38.21% of all STRK under a transfer lock that releases 127M on the 15th of every month, and it runs until Mar 15 2027 without a single step down. Three of those cliffs landed inside the window — Jul 15, Aug 15 and Sep 15 2026 — and three more land in the next one. Six remain after that, 762M in total, and nothing about the schedule is discretionary.

A project distribution wallet fell from 1,250.0M to 950.0M, sending 100M on Jul 28 2026 and 200M on Sep 10 2026. Both went through the same pass-through address, which ended each window with 2 STRK: the first 100M landed in a custody wallet, and on Sep 16 2026 the 200M was split, 90M straight into the bridge and 110M into that same custody wallet. Tracked overhangs: this wallet's remaining 950.0M, a project safe holding 1,001.3M that has not moved a single STRK, and 418.7M left across 168 lock contracts. Roughly 445.8M more of the non-circulating pool sits in wallets no public holder index would return this session.

There is no bankruptcy estate, no trustee and no court-ordered distribution attached to STRK. Nothing sits in this row and nothing is expected to.

There is no buyback. No contract, no programme and no disclosed open-market purchase by StarkWare or the Starknet Foundation, and none was announced or executed in this window.

Fees on Starknet can only be paid in STRK, but none of it is destroyed — the sequencer keeps the whole amount. Both surfaces were read at both ends of the window to be sure: the unspendable addresses hold a rounding error and did not move, and the number of STRK in existence went up, not down.

The Foundation is a net seller here, not a buyer. Its wallets released supply during the window and took none back; no market purchase by any identified project wallet appears on the chain or in any disclosure.

Nothing new was locked away. Staking cannot do the job either: leaving a validator takes a seven-day wait, which is an exit delay rather than a term lock, and staked STRK is counted inside the tradable float in any case.