zkLink Postpones ZKL Token Unlock Schedule For Team And Investors Until April
In Brief
zkLink DAO has postponed the token unlock schedule for investors and team members, affecting tokens that represent 40.5% of the total supply.
Decentralized autonomous organization, governing the development of the zkLink protocol, zkLink DAO announced a six-month postponement of the token unlock schedule for both investors and team members. This delay will impact tokens that represent 40.5% of the total token supply.
“We are extending the vesting schedule to April 2025 to ensure a more stable and sustainable growth trajectory,” said Davison Freeman, a product manager at zkLink, in a written statement. “This decision aligns with current market conditions and strengthens the long-term value for both our investors and ecosystem,” he added.
According to the announcement, the new unlocking schedule will directly affect several parties. For early private placement round buyers, the token vesting that was initially set to begin on October 22nd, 2024, has now been postponed to April 22nd, 2025. Additionally, for the zkLink core DAO team and advisors, the token vesting that was originally scheduled to start on January 22nd, 2024, will be delayed until July 22nd, 2025.
This decision comes following the token listing in July 2024 and aims to maintain a low circulating supply. Currently, around 14% of ZKL’s total token supply is available for trading. This limited availability could lead to increased volatility and price fluctuations, particularly in response to changes in market demand.
What Is ZKL?
This project is dedicated to creating zero-knowledge (ZK) scaling solutions for the Ethereum ecosystem. Its ZKL token, an ERC-20 token released on the Ethereum mainnet, has a total supply capped at one billion, ensuring it remains non-inflationary.
According to ZKL tokenomics, the allocation of tokens is as follows: 22.5% is set aside for ecosystem development, 4% for liquidity reserves, 29.8% for the community treasury, 20% for the team and advisors, 20.5% for early private investors, and 3.125% for the CoinList community sale.
As of the current writing, ZKL is trading at $0.1347, reflecting a decline of over 3.55% in the past 24 hours. The token’s intraday low and high have been recorded at $0.1326 and $0.1473, respectively, according to data from CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
