Starknet adjusts token unlocking schedule! The token STRK immediately rebounded by 20%

Ethereum Layer 2 expansion solution Starknet recently opened applications for STRK token airdrops and has been listed on multiple mainstream exchanges. However, this move has caused some controversy. The community has made a lot of criticisms about the airdrop token distribution and token release schedule, believing that it is unfair.

According to the token unlocking schedule, on April 15, just less than two months after STRK went online on the 20th, there will be more than 1.3 billion STRK (accounting for 13.1% of the total token supply) ) will be unlocked and distributed to early Starknet contributors and investors, and can be used for transfer and sale. This has caused the community to worry that these tokens will be sold off in large quantities after being unlocked, causing the currency price to plummet.

Starknet adjusts token unlocking schedule

However, Starknet developer Starkware announced on Twitter today that after listening to feedback from the ecosystem and partners, it decided to adjust StarkWare’s early contributors and investors The lock-up plan makes token unlocking more gradual. Starkware values ​​the community and hopes to win trust by building great technology that embodies the value of the blockchain and is tested by time.

According to Starkware’s official statement, the revised schedule is as follows:

• Of the 10 billion tokens initially minted, only 0.64% (64 million tokens ) will be unlocked on April 15 instead of the originally planned 13.4% unlock (1.34 billion tokens).

• The gradual unlocking of tokens will occur at the following rate: 0.64% (64 million tokens) per month until March 15, 2025. Subsequently, it will be adjusted to a monthly unlocking rate of 1.27% (127 million tokens) over the next 24 months until March 15, 2027.

• According to the latest unlocking plan, original contributors and investors will unlock 580 million tokens by the end of 2024, instead of the 2 billion previously planned.

• By the end of 2025, 1.4 billion additional tokens will be gradually unlocked, by the end of 2026, an additional 1.5 billion tokens will be unlocked, and by March 15, 2027, 3.8 Billion pieces.

STRK stopped falling and rebounded

Perhaps inspired by the news that StarkWare announced adjustments to the lock-up plan for early contributors and investors, the market expected a token sell-off in April. The pressure will drop sharply. The price of STRK, which has been falling since its launch on the 20th and dropped as deep as $1.67 on the 21st, began to stop falling and rebound, returning to the $2 mark.

STRK rose by more than 20% in the past 24 hours, reaching a high of $2.178. As of the time of writing, it was trading at $2.048, an increase of 8.5% in the past 24 hours.

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