zkLink postpones its token vesting schedule by six months, covering 40.5% of the total ZKL supply

The zkLink Core DAO has decided to postpone its token vesting schedule (originally scheduled to begin on October 22) by six months, involving 40.5% of the total supply of ZKL. The zkLink team and advisors will begin receiving tokens from early private round purchasers on April 22, 2025, and the total amount of vested tokens will remain unchanged. The move comes ahead of a series of planned token unlocks. Blockworks estimates that at least $5.3 billion worth of tokens from market-focused projects will flood the market over the next 12 months. “The reason for this decision is to align our ongoing efforts and interests to strengthen our community while defending zkLink’s position as a market-leading infrastructure company. We understand this may be disappointing, and we apologize for any inconvenience this may cause,” the team wrote in a statement. “This additional time allows us to more effectively adapt to market conditions and ensure that both our team and investors are positioned for long-term success,” said Vince Yang, CEO of zkLink. Additionally, zkLink is about to launch new products, including magicLinks and magicPortal, which are designed to improve Web3 business onboarding through "one-click" logins using zero-knowledge proofs. The extension of the ZKL vesting schedule is intended to ensure "robust market entry." According to the announcement, users who purchased tokens on CoinList (which were unlocked at the TGE and vested linearly over the next nine months) will not be affected by the delay. Similarly, tokens used for "ecosystem development" and community treasury will still vest as originally planned. (The Block)