Published on February 22, 2024 22:34 GMT+00:00edited on February 22, 2024 22:39 GMT+00:00

The blockchain firm StarkWare, which is developing the Layer 2 scalability protocol Starknet, changed the token release structure for its token STRK following user feedback.

StarkWare will unlock STRK more gradually under the new changes, according to an official release. The firm is reducing the portion of tokens unlocked at launch from 13.4% to 0.64%, as some users felt releasing such a large amount to a select few was "predatory," The Block previously reported. 

"Tokens held by StarkWare early contributors and investors are subject to a lockup," the company explained. "These parties supported StarkWare’s efforts when the company was researching and performing the initial development of Starknet. Approximately a third of the tokens held by these early contributors and investors …