StarkNet Token Unlocks Delayed Until April 15 Next Year

Key Points:

• StarkWare delays StarkNet token unlocks release to April 2024.
• The delay affects core contributors and employees, not the public.
• StarkWare continues work on Ethereum scalability with StarkNet Quantum Leap testnet.

According to The Block, Ethereum Layer 2 developer StarkWare has announced a significant delay in the release of its native StarkNet (STRK) token, extending it by more than five months. Originally scheduled for November 29, 2023, the new StarkNet token unlocks date has been rescheduled to April 15, 2024.

StarkWare, known for its scaling solutions for Ethereum using Starks technology, maintains two primary chains: StarkEx, a permission layer, and StarkNet, a decentralized layer where the STRK token will find its primary use.

A spokesperson from StarkWare explained the delay, stating to The Block:

“We are focusing on building the technology. We are updating the roadmap as needed, and this includes an update to lockup.”

Notably, this delay only impacts the first StarkNet token unlocks, which comprises tokens allocated to core contributors, early supporters, and StarkWare employees. The general public’s tokens remain unaffected by this shift. The postponement of the first StarkNet token unlocks doesn’t necessarily imply subsequent delays, as the unlocking of these two sets of tokens is not directly interconnected.

In July, StarkWare marked a significant milestone by launching the testnet for the StarkNet Quantum Leap upgrade. This launch represented the initial step toward introducing the enhanced solution to the mainnet, underlining the company’s ongoing commitment to advancing Ethereum’s scalability.

As StarkWare fine-tunes its technology and roadmap, the crypto community will be watching closely for further developments in the StarkNet ecosystem and the STRK token’s eventual release.

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