StarkWare, the developer behind the scaling solution Starknet, has amended the unlock schedule of its recently-launched STRK token, after facing community pressure.
StarkWare, the developer behind the scaling solution Starknet, has amended the unlock schedule of its recently-launched STRK token, after facing community pressure. The original plan, which saw a large chunk of tokens unlocking quickly, raised concerns that early investors could dump them on retail users, potentially harming the network.
Under the revised schedule, the unlocking of tokens allocated to early contributors and investors will be more gradual. Instead of the initial plan of releasing over 1.3 billion tokens at once in April, these tokens will be unlocked in smaller, monthly installments spread over three years. This change aims to prevent a sudden influx of tokens impacting the market and potentially harming new users.
The decision came after StarkWare received feedback from the community, including users and commentators who expressed concerns about the original schedule. Some argued that it would create unfair conditions for new users by allowing early investors to exit quickly.
The revised schedule seems to have been met with positive reactions. The token price, which had dropped significantly after the initial launch, climbed soon after the announcement and is currently up. Additionally, the network's total value locked (TVL) has also seen a significant increase.
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