Alyssa Davidson
Posted: Oct 23, 2024 7:19 AM Updated: Oct 23, 2024 7:19 AM
Correction and fact check date: October 23, 2024, 7:19 AM
briefly
zkLink DAO postponed the token unlock schedule for investors and team members, affecting tokens that account for 40.5% of the total supply.
zkLink DAO, the decentralized autonomous organization that manages the development of the zkLink protocol, announced a six-month delay in the token unlock schedule for both investors and team members. This delay will affect tokens that account for 40.5% of the total token supply.
“To ensure a more stable and sustainable growth trajectory, we are extending the vesting schedule until April 2025,” Davison Freeman, product manager at zkLink, said in a written statement. “This decision is consistent with current market conditions and strengthens long-term value for both investors and the ecosystem,” he added.
According to the announcement, the new unlock schedule will have a direct impact on several parties. For buyers of the initial private round, token vesting, originally scheduled to begin on October 22, 2024, has now been postponed to April 22, 2025. Additionally, for the zkLink core DAO team and advisors, token vesting originally scheduled to begin on January 22, 2024 will be postponed to July 22, 2025.
This decision follows the token’s listing in July 2024 and aims to maintain a low circulating supply. Currently, approximately 14% of ZKL’s total token supply is tradable. This limited availability may result in increased volatility and price fluctuations, particularly in response to changes in market demand.
What is ZKL?
This project is dedicated to creating a zero-knowledge (ZK) scaling solution for the Ethereum ecosystem. The ZKL token, an ERC-20 token launched on the Ethereum mainnet, guarantees no inflation by limiting its total supply to 1 billion.
According to ZKL Tokenomics, the token allocation is as follows: 22.5% for ecosystem development, 4% for liquidity reserves, 29.8% for community treasury, 20% for team and advisors, 20.5% for early individual investors, and CoinList community sales. For , it is 3.125%.
At the time of writing, ZKL is trading at $0.1347, down over 3.55% in the last 24 hours. According to data from CoinMarketCap, the token’s intraday low and high were recorded at $0.1326 and $0.1473, respectively.
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About the author
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
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Alyssa Davidson
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
more articles