PANews reported on October 24 that according to The Block, zkLink Core DAO announced the postponement of its ZKL token unlocking plan, delaying the token unlocking originally scheduled for October 22 by six months. This decision involves 40.5% of the total ZKL token supply, affecting the token allocation of early private round investors, teams and consultants, and the unlocking will be postponed to April 22, 2025.
zkLink said the move is aimed at strengthening the company's market position in the highly competitive Web3 field and paving the way for upcoming products, including magicLinks and magicPortal. These new products enable "one-click" login through zero-knowledge proof technology to simplify the process of user access to Web3 businesses. zkLink CEO Vince Yang said that delaying the unlocking time will help the team and investors better respond to market conditions and ensure long-term success. The announcement also mentioned that tokens purchased on CoinList and tokens used for "ecosystem development" and community treasury are not affected by this adjustment and will still be unlocked as planned.