StarkWare Amended $STRK Token Unlock Schedule Amid Critisism

StarkWare Amended $STRK Token Unlock Schedule Amid Critisism

Reported by Cointelegraph, StarkWare has amended its Starknet (STRK) token unlock schedule following concerns that the original plan would allow the network’s investors to dump on retail Starknet users.

The changes will see a “more gradual” token unlock schedule for its early contributors and investors, implementing smaller, periodic token drops over three years instead of a larger drop which was originally slated in just two months' time.

“In recent days StarkWare reviewed feedback and decided to adjust the unlocking timeline, making it more gradual,” StarkWare, Starknet's developer, said in a Feb. 22 X post.

The revised schedule will see 64 million STRK tokens worth nearly $125.5 million and 0.64% of its 10 billion total supply unlock on April 15.

The unlock will continue at 64 million STRK a month until March 15 next year. It will then bump to 127 million STRK a month for the next two years until March 15, 2027.

Originally, over 1.3 billion STRK — about 13% of its total supply worth over $2.5 billion — was set for unlock on April 15, just two months after the token’s Feb. 20 launch.

“Under the new unlock plan, 580 million tokens held by early contributors and investors will be unlocked by the end of 2024, as opposed to 2 billion of those tokens under the previous schedule,” StarkWare said.

Source

Layer 2

In This Article

Related News
World unveils new layer-2 network 'World Chain' World unveils new layer-2 network 'World Chain'
Celo launches Dango Layer 2 testnet in first step towards joining Ethereum ecosystem Celo launches Dango Layer 2 testnet in first step towards joining Ethereum ecosystem
Blast to Create a Foundation to Help Protocol Governance Blast to Create a Foundation to Help Protocol Governance
Bitcoin Lightning hacker Burak introduces new layer 2 ‘Brollups’ Bitcoin Lightning hacker Burak introduces new layer 2 ‘Brollups’
Layer 2 network Blast to roll out its token airdrop next week Layer 2 network Blast to roll out its token airdrop next week
Latest News More More
1 Day Ago BTC investors pour $1.1B into BlackRock ETF as Bitcoin marks another high
1 Day Ago Solana climbs above $200, bitcoin hits new high amid extended post-election rally
1 Day Ago Binance Marks Two Years of Proof of Reserves with Extensive Asset Backing
2 Days Ago Avalanche buys back $53M of AVAX tokens from Terra’s LFG
2 Days Ago Crypto stocks close on huge gains riding Donald Trump’s US election win
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open