zkLink Core DAO Delays Token Vesting Schedule

In a strategic move to strengthen its presence in the competitive web3 sector, zkLink Core DAO has decided to delay its token vesting schedule originally set for October 22 by six months. This announcement was made on Wednesday and affects 40.5% of the total ZKL token supply.

Tokens for early private round purchasers, the zkLink team, and advisors will now start being distributed on April 22, 2025. The total amount of vested tokens remains unchanged.

This decision precedes a series of planned token unlocks often seen as dilutive to a cryptocurrency's price, with estimates suggesting that $5.3 billion worth of tokens from significant projects will enter the market in the next year.

The zkLink team stated, "The reason for this decision is to align our ongoing efforts and interests in strengthening our community, while defending zkLink’s position as a leading infra company within the market. We understand this may be disappointing, and we sincerely apologize for any inconvenience this may cause."

CEO Vince Yang added, "This additional time allows us to align more effectively with market conditions and ensures that both our team and investors are positioned for long-term success."

The delay also coincides with upcoming product launches such as magicLinks and magicPortal, which aim to enhance onboarding into web3 businesses through one-click logins using zero-knowledge proofs. Extending the ZKL vesting schedule aims to secure a robust market entry.

Notably, those who purchased tokens on CoinList during the token generation event will not be impacted by the delay. Tokens allocated for ecosystem development and the community treasury will continue to vest as initially planned.

ZKL serves as the governance and utility token for the zkLink protocol, with a capped supply of 1 billion tokens.