latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

StarkWare revises STRK token unlock plan after community backlash

StarkWare revises STRK token unlock plan after community backlash
StarkWare, the company behind the layer-2 Ethereum scaler Starknet, has announced a revision to the unlock schedule for its STRK token, affecting early contributors and investors.
The decision comes after the initial plan to unlock a significant portion of tokens in April faced backlash from the crypto community. StarkWare’s co-founder and chief executive officer, Eli Ben-Sasson, said in an X (formerly Twitter) post that the company has listened to concerns about long-term alignment with the Starknet ecosystem and is committed to earning the community’s trust through actions.
The revised schedule will now see a more gradual release of tokens, with 64 million (0.64%) unlocking on April 15, 2024, and continuing monthly at the same rate until March 15, 2025. After this period, the pace will increase to 1.27% monthly for 24 months, concluding on March 15, 2027.
This change reduces the number of tokens to be unlocked by the end of 2024 to 580 million, compared to the 2 billion initially planned. The STRK token, which is traded on various cryptocurrency exchanges, experienced a price increase following the announcement, indicating a positive market response to the revised schedule.
STRK traded at US$1.92 at 11:40 a.m. ET, up 4.5% in 24 hours, according to CoinGecko data.
The initial unlock plan involved releasing 1.3 billion STRK tokens, about 13% of the total supply, which raised concerns about potential price impacts. Starknet users and the broader crypto community expressed fears that such a large unlock could devalue the token.
Starknet began airdropping its tokens to nearly 1.3 million eligible wallets. However, the token’s price experienced a sharp decline shortly after, dropping 55% from its average peak price of US$4.41 on launch day, CoinGecko data shows. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ StarkWare revises STRK token unlock plan after community backlash

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

Dokky PRO - Bookcase Shop Script