StarkWare Revises Token Lockup Schedule Amid Community Concerns

StarkWare Revises Token Lockup Schedule Amid Community Concerns

Responding to community feedback, StarkWare, the developer behind the Ethereum scaling solution STRK, has announced a significant revision to its token lockup schedule for early contributors and investors.

Initially, approximately 1.3 billion tokens were slated to unlock on April 15. However, in light of concerns raised by the community, StarkWare has opted for a more gradual approach to the unlocking process.

Under the revised plan, token unlocks will occur gradually, with 64 million tokens released monthly until March 15, 2025. Following this, the pace will increase to 127 million tokens monthly for the subsequent 24 months until March 15, 2027.

This adjusted timeline ensures that by the end of 2024, only 580 million tokens will be unlocked, a significant reduction compared to the previously scheduled 2 billion. Additionally, gradual unlocks are planned for subsequent years.

StarkWare stated that the decision to alter the lockup schedule was made after “listening to feedback from ecosystem friends and collaborators.” The adjustment comes shortly after the STKR token experienced a notable price correction, plummeting from around $6.30 to approximately $3.50 within a short period. The ensuing volatility prompted discussions within the Starknet community, with concerns raised about the potential market impact of a large token unlock slated for April 2025.

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