StarkWare Chooses Gradual Release of STRK Token in Response to User Input

StarkWare Chooses Gradual Release of STRK Token in Response to User Input

StarkWare Chooses Gradual Release of STRK Token in Response to User Input

BollywoodFever, February 23: Blockchain company StarkWare, known for developing the Layer 2 scalability protocol Starknet, has adjusted its token release strategy for STRK following feedback from users.

In response to concerns raised by some users about the initial token release being too substantial and potentially “predatory,” StarkWare has decided to implement a more gradual unlocking process. 

Originally, 13.4% of tokens were set to be unlocked at launch, but this has been reduced to just 0.64%.

StarkWare Chooses Gradual Release of STRK Token in Response to User Input

According to StarkWare’s official announcement, tokens held by early contributors and investors will now be subject to a lockup period. 

Initially, around 1.3 billion tokens were scheduled to unlock on April 15, but under the new plan, only 64 million tokens will be released on that date. 

Subsequently, an additional 64 million tokens will be unlocked every month. 

From March 15, 2025, onwards, the monthly release will increase to 1.27% (127 million tokens) and continue for the next two years.

As a result of these changes, StarkWare anticipates that approximately 580 million tokens held by early contributors and investors will be unlocked by the end of 2024, compared to the previous schedule of 2 billion tokens. 

Additionally, 1.4 billion tokens will be gradually released by the end of 2025, followed by another 1.5 billion by the end of 2026, and 380 million by March 15, 2027.

Originally slated for November 29, 2023, StarkWare postponed the token launch to April 15, 2024. 

The token was initially introduced in November 2022, with trading suspended on Ethereum. Currently, STRK is valued at $1.98, with a 9.13% increase in the past 24 hours.

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Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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