StarkWare changes lockup period for early contributors amid community concerns

Responding to community concerns, StarkWare has revised the token lockup schedule for early contributors and investors, opting for a more gradual release of STRK tokens.

StarkWare, the company behind the Ethereum scaling solution s (STRK), has announced a revision to the token lockup schedule for its early contributors and investors after receiving negative feedback from the community.

Previously, a significant number of tokens (approximately 1.3 billion) were scheduled to unlock on Apr. 15. However, following community feedback, StarkWare has opted for a more gradual approach to the unlocking process.

Under the revised plan, token unlocks will proceed gradually, with 64 million tokens being released monthly until Mar. 15, 2025. Subsequently, the pace will increase to 127 million tokens monthly for the next 24 months until Mar. 15, 2027.

This adjusted timeline ensures that only 580 million tokens will be unlocked by the end of 2024, compared to the previously scheduled 2 billion, with additional gradual unlocks planned for subsequent years.

StarkWare says it has decided to change the lockup schedule after “listening to feedback from ecosystem friends and collaborators.” The move comes shortly after the STKR token underwent a dramatic price correction, falling from ~$6.30 to ~$3.50 within days. The volatility sparked discussions within the Starknet community, with some expressing concerns about the potential market impact of a large token unlock scheduled for April this year.

Source link

About The Author

Scroll to Top