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StarkWare, the Ethereum Layer 2 solution, announced that the first unlocks of its native StarkNet (STRK) token have been postponed to April 2024.
The decision comes as the company focuses on improving its technology and updating its roadmap, which now includes an update during the lockdown period.
The first unlocks of the StarkNet STRK token have been postponed until April 15, 2024. However, it is worth noting that these tokens are allocated to core supporters, early supporters of the StarkWare ecosystem, and StarkWare employees. They are not intended for distribution to the general public.
There was also speculation about whether this delay would affect a potential airdrop. A source with direct knowledge of the matter explained that these tokens are not for the general public, raising questions about whether the airdrop is still on the schedule.
The source also added that “since the unlocking of the two types of tokens is not always interconnected, the delay of the first unlock does not mean that subsequent unlocks will also be delayed.”
Last November, the Starknet Foundation launched with 50.1% of the total STRK token supply to fulfill the vision of StarkNet's decentralization proposal. STRK token will be used for payment of transaction fees, governance and staking on the StarkNet network.
*This is not investment advice.