StarkWare Adjusts Token Unlocking Schedule Following Community Feedback

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StarkWare Adjusts Token Unlocking Schedule Following Community Feedback
Credit: © Reuters.

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  • StarkWare has revised the token lockup schedule for its early contributors and investors.
  • The unlocking will now happen in a phased manner, StarkWare said.
  • Initial plan to unlock 1.34 billion tokens on April 15 was adjusted to 64 million.

In response to valuable feedback from its ecosystem partners and collaborators, StarkWare has announced a revision to the token lockup schedule for its early contributors and investors.

As per the official post from StarkWare on social media platform X, the decision aims to address concerns and create a more gradual unlocking process, demonstrating the company’s commitment to building trust within the community.

“After listening to feedback from ecosystem friends and collaborators, we are changing the lockup schedule for StarkWare’s early contributors and investors to make it more gradual,” said the firm.

According to previous reports, StarkWare is gearing up for the debut of its STRK token and also witnessed a surge in user activity for a brief time.

The tokens held by early contributors and investors that played a crucial role in StarkWare’s research and initial development phases have been under a lockup period.

Approximately one-third of the tokens held by these early contributors and investors, totaling around 1.3 billion, were scheduled to be unlocked on April 15. However, after careful consideration of recent feedback, StarkWare has opted for an adjusted unlocking timeline to ensure a more phased release of tokens.

On April 15, only 0.64% of the initially minted 10 billion tokens, equivalent to 64 million tokens, will be unlocked, as opposed to the initially planned 13.4% (1.34 billion tokens). This more gradual unlocking will persist at a rate of 0.64% (64 million tokens) monthly until March 15, 2025.

Subsequently, the pace will increase to 1.27% (127 million tokens) monthly for the following 24 months until March 15, 2027.

Additionally, the new unlock plan anticipates the unlocking of 580 million tokens held by early contributors and investors by the end of 2024, a significant decrease from the previous schedule, which anticipated the unlocking of 2 billion tokens during the same period.

Finally, an additional 1.4 billion tokens will be gradually unlocked by the end of 2025, followed by another 1.5 billion by the end of 2026. The final 380 million tokens are slated to be unlocked by March 15, 2027.

The post StarkWare Adjusts Token Unlocking Schedule Following Community Feedback appeared first on Coin Edition.

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