Unlock refers to the release of tokens that were previously locked based on conditions from investment rounds or other funding programs.
Typically, the team carefully considers tokenomics to avoid putting significant selling pressure at various #unlock stages and potentially crashing the token price. However, certain factors such as insufficient liquidity or early investors locking in profits right after token unlocking can significantly impact the asset's prices.
6 Unlocks to Watch This Week
AltLayer (ALT)
Unlock Date: June 25
Number of Unlocked Tokens: 105,210,000 ALT
Current Circulating Supply: 1,520,833,332 ALT
#AltLayer is an open decentralized protocol for rollups. The project is based on the idea of Restaked Rollups, which takes rollups from any stack—such as OP Stack or Arbitrum Orbit—and provides them with enhanced security, decentralization, compatibility, and rapid finality through the use of a restaking mechanism. On June 25, the project unlocked more than 100 million $ALT tokens reserved for the treasury, community, and ecosystem development.
Yield Guild Games (YGG)
Unlock Date: June 27
Number of Unlocked Tokens: 16,690,000 YGG
Current Circulating Supply: 372,290,462 YGG
Yield Guild Games is a gaming community focused on blockchain games with a play-to-earn model. It unites users from around the world who invest in NFT assets. The platform’s native token, YGG, is used to pay for services within the network. It can also be staked to earn rewards, spent to unlock exclusive content on the Discord server, or used for voting. The tokens that will be unfrozen tomorrow will be distributed among the community, developers, investors, and the treasury.
SingularityNET (AGIX)
Unlock Date: June 28
Number of Unlocked Tokens: 8,570,000 AGIX
Current Circulating Supply: 1,284,776,139 AGIX
SingularityNET is a decentralized blockchain platform for creating artificial intelligence (AI)-based applications. The project’s native token, AGIX, is used to pay for services, and node operators receive a portion of the fees as compensation for their contribution to maintaining and developing the network. The coins unlocked on June 28 will be distributed among participants in the AGIX-ADA rewards program.
Echelon Prime (PRIME)
Unlock Date: June 30
Number of Unlocked Tokens: 750,000 PRIME
Current Circulating Supply: 41,054,634 PRIME
Echelon Prime is an open decentralized ecosystem for #P2E (play-to-earn) games that is community-managed. The native token, PRIME, is used to incentivize developers and users, as well as for voting on project development and staking. The coins unlocked this week are intended for the reserve and investors of Parallel Studios.
Optimism (OP)
Unlock Date: June 30
Number of Unlocked Tokens: 31,340,000 OP
Current Circulating Supply: 1,086,889,963 OP
Optimism is a Layer-2 solution designed to increase the speed and scalability of the Ethereum network. According to DefiLlama, it is among the leaders in the number of deployed protocols and total value locked (TVL) among L2 networks. The #OP token is used for voting, managing projects within the Optimism Collective community, and ecosystem development. The tokens released in the next unlock will be distributed among investors and key project participants.
Ethena (ENA)
Unlock Date: June 30
Number of Unlocked Tokens: 14,890,000 ENA
Current Circulating Supply: 1,710,937,500 ENA
ENA is the native token of the Ethena DeFi protocol, the issuer of the synthetic dollar USDe. The asset is used for governing the ecosystem’s features, as well as a mechanism to incentivize participation and investment in the protocol. The debut of #ENA was accompanied by an airdrop from Ethena Labs, resulting in $450 million worth of tokens being distributed to the community. On June 30, the project will unlock nearly one million ENA tokens, which will be used for ecosystem development.
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