StarkWare has amended its Starknet (STRK) token unlock schedule in response to concerns that the initial plan could lead to a large sell-off by early investors, potentially impacting retail users of Starknet.
This new schedule involves spreading out the token releases over three years, with smaller, regular drops instead of one large drop in two months.
Following feedback, StarkWare has decided to implement a more gradual unlocking timeline. Initially, 64 million STRK tokens, valued at approximately $125.5 million and representing 0.64% of the total supply, will be unlocked on April 15.
This unlocking will then continue at a rate of 64 million STRK per month until March 15 of the following year. Subsequently, the monthly unlock will increase to 127 million STRK for the next two years, until March 15, 2027.
Originally, the plan was for over 1.3 billion STRK tokens, or around 13% of the total supply valued at over $2.5 billion, to be unlocked on April 15, just two months after the token’s launch on February 20.
StarkWare stated, “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.”
Also Read: Starknet (STRK) Tokens Plunge 43% Amid Transparency Concerns
