Ethereum

2024

Starknet

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<p class="is-style-lead">Responding to community concerns, StarkWare has revised the token lockup schedule for early contributors and investors, opting for a more gradual release of STRK tokens.</p>
<p>StarkWare, the company behind the <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> scaling solution s (<a href="https://crypto.news/price/starknet/" target="_blank" rel="noopener noreferrer nofollow">STRK</a>), has <a href="https://x.com/StarkWareLtd/status/1760780113057030184?s=20" target="_blank" rel="noopener noreferrer nofollow">announced</a> a revision to the token lockup schedule for its early contributors and investors after receiving negative feedback from the community.</p>
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   <p lang="en" dir="ltr">Important update:<br><br>After listening to feedback from ecosystem friends and collaborators, we are changing the lockup schedule for StarkWare’s early contributors and investors to make it more gradual. <br><br>We value this community and want to earn its trust by building great tech that…</p>— StarkWare (@StarkWareLtd) <a href="https://twitter.com/StarkWareLtd/status/1760780113057030184?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 22, 2024</a>
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<p>Previously, a significant number of tokens (approximately 1.3 billion) were scheduled to unlock on Apr. 15. However, following community feedback, StarkWare has opted for a more gradual approach to the unlocking process.</p>
<p>You might also like: <a href="https://crypto.news/starknet-active-user-count-drops-by-57-in-week-after-airdrop-announcement/" rel="noopener noreferrer nofollow"> Starknet active user count drops by 57% in week after airdrop announcement </a></p>
<p>Under the revised plan, token unlocks will proceed gradually, with 64 million tokens being released monthly until Mar. 15, 2025. Subsequently, the pace will increase to 127 million tokens monthly for the next 24 months until Mar. 15, 2027.</p>
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   <p lang="en" dir="ltr">You listen nothing. You listen only what you want lol.<br>This is just to prevent the token price collapse which inherently would have screwed the early investors. Ain't seen any real meaningful reaction to what the entire users complained about.</p>— MrYesMan (@MrYesMan_) <a href="https://twitter.com/MrYesMan_/status/1760788648365064624?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 22, 2024</a>
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<p>This adjusted timeline ensures that only 580 million tokens will be unlocked by the end of 2024, compared to the previously scheduled 2 billion, with additional gradual unlocks planned for subsequent years.</p>
<p>StarkWare says it has decided to change the lockup schedule after “listening to feedback from ecosystem friends and collaborators.” The move comes shortly after the STKR token underwent a dramatic price correction, falling from ~$6.30 to ~$3.50 within days. The volatility sparked discussions within the Starknet community, with some expressing concerns about the potential market impact of a large token unlock scheduled for April this year.</p>
<p>Read more: <a href="https://crypto.news/starknet-token-sinks-by-17-after-airdrop-distribution-and-listing-on-cex/" rel="noopener noreferrer nofollow"> Starknet token sinks by 17% after airdrop distribution and listing on CEX </a></p>

StarkWare changes lockup period for early contributors amid community concerns

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