In a strategic move to fortify its position in the fiercely competitive web3 sector, zkLink Core DAO has decided to delay its token vesting schedule — originally set to commence Oct. 22 — by six months. This decision, announced Wednesday, impacts a significant 40.5% of the total ZKL token supply.
Tokens for early private round purchasers, the zkLink team and advisors will begin receiving tokens on April 22, 2025. The total vested token amount will remain the same.
The move comes ahead of a series of planned token unlocks, which are typically seen as dilutive for a cryptocurrency’s price. Blockworks estimates that at least $5.3 billion worth of tokens from closely watched projects will flood the market in the next 12 months.
“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,” the team wrote in a statement shared with The Block. “We understand this may be disappointing, and we sincerely apologize for any inconvenience this may cause.”
“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,” CEO of zkLink Vince Yang said.
The move comes ahead of zkLink's upcoming product launches, including magicLinks and magicPortal, which are designed to improve onboarding into web3 businesses through “one-click” logins using zero-knowledge proofs. Extending the ZKL vesting schedule is intended to ensure a "robust market entry."
According to the announcement, those who bought tokens on CoinList (which were unlocked during the token generation event and were vested linearly over the following nine months) will not be affected by the delay. Likewise, tokens intended for “ecosystem development” and the community treasury will still vest as initially planned.
ZKL serves as the governance and utility token for the zkLink protocol. The token supply is capped at 1 billion.
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