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StarkNet Delays Its Initial Token Unlocking!

StarkNet

Ethereum’s Layer 2 solution StarkWare announced it has postponed the unlocking of its native token StarkNet (STRK) until April 2024.

The company made this decision to concentrate on advancing its technology and updating the roadmap to incorporate a revision of the current lock-up period.

They postponed the unlocking of the StarkNet STRK token to 15 April 2024. However, the company had initially allocated these tokens to early supporters of the StarkWare ecosystem, main supporters, and StarkWare employees. Consequently, the tokens were not intended for public distribution.


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When StarkWare announced it was delaying the unlocking of its native project token, STRK,’ until April 2024,’, various speculations emerged about how this delay could potentially affect an airdrop. However, a source with direct knowledge clarified that the company does not intend to make these tokens available to the general public. This raised questions about whether the company is still planning an airdrop.

This source also added that, “since the unlocking of the two types of tokens have never been interdependent, it does not mean that the delay of the first unlocking will delay the next one.”

Last November, the Starknet Foundation announced it would deploy 50.1% of the total STRK token supply to fulfil the vision of StarkNet’s decentralization plan. The STRK token will serve purposes such as covering transaction fees, participating in governance, and staking on the StarkNet network.

This delay reflects StarkWare’s intention to focus on further developing their technology to ensure the long-term success of StarkNet. Furthermore, it shows that the project is focusing on participants within the ecosystem rather than public distribution.


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