- Instead, in six months, more than 40% of the whole supply of ZKL tokens will start to enter the market.
zkLink Core DAO has made the strategic decision to postpone its token vesting timeline, which was initially scheduled to start on October 22, by six months in order to strengthen its position in the very competitive web3 industry.
A noteworthy 40.5% of the whole ZKL token supply is affected by this decision, which was made public on Wednesday.
On April 22, 2025, the zkLink team and advisers will start receiving tokens for early private round buyers. There will be no change in the overall amount of vested tokens.
The action is taken in advance of many scheduled token unlocks, which are generally thought to dilute the value of cryptocurrencies. According to Blockworks, the market will be inundated with tokens from highly anticipated projects totaling at least $5.3 billion over the course of the next 12 months.
This decision was made in order to support zkLink’s position as the industry’s top infrastructure provider and to align our continued efforts and interests in enhancing our community.
We acknowledge that this could be disappointing, and we deeply regret any inconvenience this may have caused.
This extra time guarantees that our team and investors are in a position for long-term success and enables us to better align with market conditions.
The action is taken in front of the next product launches from zkLink, such as magicLinks and magicPortal, which are intended to enhance onboarding into web3 businesses by utilizing zero-knowledge proofs for one-click logins. The goal of extending the ZKL vesting timetable is to guarantee a strong market debut.
The release states that the delay won’t impact CoinList users who purchased tokens that were unlocked during the token generation event and vested linearly over the next nine months. Tokens meant for the community treasury and ecosystem development will also continue to vest as originally scheduled.
The zkLink protocol uses ZKL as its utility token and governance token. The total number of tokens is limited to one billion.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
