StarkWare has postponed the unlocking of StarkNet tokens


StarkWare developers have delayed the first unlock of the StarkNet L2 token (STRK) for more than five months. This is evidenced by transaction data from one of the smart contracts.

The new unlock date is set for April 15, 2024. Previously, this was planned to be done on November 29.

“We focus on creating technology. We update the roadmap as necessary, including updating the blocking,” one of the StarkWare representatives noted in a conversation with The Block.

It is not yet clear how many tokens are due to be released to the market next spring. The total supply of STRK is 10 billion, but the coins are not yet listed on trading platforms.

A knowledgeable source told the publication that the first unlock tokens are intended for key ecosystem participants, early adopters and StarkWare employees, “and not the general public.” The team’s current decision does not necessarily mean that subsequent unlocks will be postponed.

The company released STRK on the Ethereum network in November 2022. Shortly before this, in July, the developers announced the release of a token.

STRK is intended for payment of transaction fees, decentralized project management and staking.

The total TVL of the StarkNet ecosystem exceeds $40 million. Since the beginning of the year, the figure has been growing steadily.

Data: DeFi Llama.

Let’s remember that in July the development team behind StarkNet launched the Quantum Leap update, designed to increase system throughput.

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