StarkWare Significantly Reduces Number of STRK Tokens to Unlock in April
Following community feedback, StarkWare, the developer of Starknet on Ethereum, has made changes to the STRK token unlocking schedule, leading to a surge in token value.
StarkWare, the creator of Starknet, a layer 2 solution on Ethereum, has responded to criticism regarding the unlocking program for their new STRK tokens by agreeing to modify the schedule. The company has announced that only 0.64% of the initial 10 billion tokens will now be unlocked on April 15, instead of the previously planned 13.4% (1.34 billion tokens).
This announcement has resulted in a 10% increase in the price of the STRK token, which reached over $2 on Thursday.
Nouvelle Programmation pour un Unlock Progressif
Under the revised schedule, tokens will continue to be gradually unlocked at a rate of 0.64% (64 million tokens) per month until March 15, 2025. From there, the monthly unlock rate will increase to 1.27% (127 million tokens) for the next 24 months until March 15, 2027. StarkWare explained that this adjustment aims to provide a more gradual release of tokens in response to community and ecosystem feedback.
Impact on the Market and Long-Term Vision
The change in token unlocking plan has been well-received by the market, with STRK briefly reaching an impressive price of $7 earlier in the week before quickly dropping below $2. At the time of writing, the token was trading again around $2.
