New York, Tuesday, October 29, 2024 – zkLink Core DAO has announced a six-month delay in its token vesting schedule, initially set for October 22, 2024.
The decision affects 40.5% of the ZKL token supply, including tokens for early private round purchasers, the zkLink team, and advisors.
These stakeholders will now receive tokens starting April 22, 2025.
The decision comes as zkLink prepares to launch several new products, including magicLinks and magicPortal, which aim to enhance onboarding into web3 businesses through “one-click” logins utilizing zero-knowledge proofs.
The delay is designed to ensure a smooth market entry and protect zkLink’s position as a leading infrastructure company in the web3 space.
In a statement, zkLink said the importance of aligning market conditions with the team’s long-term goals.
It said that the additional time allowed them to align more effectively with market conditions and ensure both the teams and investors are positioned for long-term success
The total vested token amount will remain unchanged.
Importantly, token holders who purchased on CoinList during the token generation event will not be affected by the delay, and tokens allocated for ecosystem development and the community treasury will vest as scheduled.
ZKL serves as the governance and utility token for the zkLink protocol, with a capped supply of 1 billion.
The postponement also aims to support zkLink’s strategic growth ahead of a competitive year in the web3 sector.
