Starkware Adjusts Token Release in a Bid to Address Community Fears

Starkware Adjusts Token Release in a Bid to Address Community Fears

In the wake of community concerns, StarkWare, the blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. More company behind the Starknet layer 2 scalability protocol, has revised its token release plan for STRK. The concern was initially sparked by the company’s plan to release 1.3 billion STRK tokens to early contributors and investors on April 15, potentially affecting the token’s price. In response, StarkWare has implemented a more gradual Starkware token release, unlocking only 0.64% of the original 10 billion tokens on the set date. The company aims to slowly release tokens monthly until March 2025, then increasing the rate to 1.27% for the subsequent 24 months. This new Starkware token release strategy will result in only 580 million tokens being released to early contributors and investors by the end of 2024, a significant decrease from the initial 2 billion tokens. This new plan has seen the STRK token’s value recover, rising to over $2.