APP
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.
- Last:
- Next:
