StarkWare, the company responsible for the Ethereum scaling solution STRK, has made changes to the token lockup schedule for early contributors and investors based on community input.

Initially, approximately 1.3 billion tokens were set to unlock on Apr. 15. However, following community concerns, StarkWare has decided to implement a more gradual release of STRK tokens.

The revised plan now involves a monthly release of 64 million tokens until Mar. 15, 2025. After that, the pace will increase to 127 million tokens per month for the following 24 months until Mar. 15, 2027.

This adjustment means that only 580 million tokens will be unlocked by the end of 2024, significantly less than the previously scheduled 2 billion. Additional gradual unlocks are planned for the years to come.

StarkWare made this decision after taking feedback from ecosystem partners and collaborators. The change comes on the heels of a price correction for the STKR token, dropping from approximately $6.30 to $3.50 in a short period. This volatility prompted discussions within the Starknet community, particularly regarding the potential market impact of a large token unlock set for April this year.

For more information on this topic and other cryptocurrency news, visit Global Crypto News.

Post Views: 7