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Home»ADOPTION NEWS»StarkWare has decided to gradually roll out the STRK token based on user feedback.
ADOPTION NEWS

StarkWare has decided to gradually roll out the STRK token based on user feedback.

By Crypto FlexsFebruary 23, 20243 Mins Read
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StarkWare has decided to gradually roll out the STRK token based on user feedback.
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Starkware, a blockchain company developing the layer 2 scalability protocol Starknet, has changed the token launch structure of its token. strong

+15.06%
Follow user feedback.

According to the official release, StarkWare will be unlocking STRK more gradually following the new changes. The company is reducing the percentage of tokens unlocked at launch from 13.4% to 0.64%. That’s because some users felt it was “predatory” to release such a large amount to a select few,” The Block previously reported.

“Tokens held by early Starkware contributors and investors are subject to lock-up,” the company explained. “These parties supported StarkWare’s efforts as the company researched and conducted the early development of Starknet. Approximately one-third (~1.3 billion) of tokens held by early contributors and investors will be unlocked on April 15 It was.”

Now, 64 million of the 10 billion tokens, or 0.64%, will be unlocked on April 15th. An additional 64 million tokens are released every month. After March 15, 2025, the monthly token allocation will increase by 1.27% (127 million) tokens released each month and continue for the next two years.

“Under the new unlock plan, 580 million tokens held by early contributors and investors will be unlocked by the end of 2024. This is compared to 2 billion tokens under the previous schedule, with an additional 1.4 billion tokens to be unlocked gradually by the end of 2024. “By 2025, an additional 1.5 billion will be unlocked by the end of 2026, and 380 million will be unlocked by March 15, 2027,” explained StarkWare.

StarkWare originally set the token launch date for November 29, 2023, but pushed the date back five months to April 15, 2024, The Block reported.. StarkWare launched its token with a trading ban in November 2022. Ethereum ETH

+1.78%
.

According to The Block’s pricing page, the current value of STRK is $1.98 and is up 9.13% in the last 24 hours.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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