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.

9 unlocks to watch this week

dYdX (DYDX)

  • Unlock Date: May 14

  • Number of Unlocked Tokens: 2,120,000 DYDX

  • Current Circulating Supply: 268,555,935 DYDX

At the beginning of 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to the project's initial tokenomics. According to the updated information, 27.7% of the total DYDX supply will be allocated to early investors, 26.1% will go to the treasury, 15.3% will be distributed among the team, 7.0% are reserved for future employees and consultants of dYdX. The remaining tokens are intended for liquidity pools and user rewards.

Currently, approximately half of the total supply of 1 billion DYDX is in circulation. The remaining tokens will be unlocked gradually over the next three years.

CyberConnect (CYBER)

  • Unlock Date: May 15

  • Number of Unlocked Tokens: 886,120 CYBER

  • Current Circulating Supply: 21,476,933 CYBER

CyberConnect is a decentralized social graph protocol built on the BNB Smart Chain blockchain. It facilitates social connections between users and projects across various platforms and manages them. The native token, CYBER, enables holders to purchase CyberID, vote on protocol improvement proposals, and pay transaction fees. The tokens unlocked this week are reserved for the project's treasury and ecosystem development.

Starknet (STRK)

  • Unlock Date: May 15

  • Number of Unlocked Tokens: 64,000,000 STRK

  • Current Circulating Supply: 728,000,000 STRK

Starknet is developing a Layer 2 ZK-Rollup solution for scaling decentralized applications on Ethereum. After securing investments, the team released the STRK token, which plays a key role in network decentralization.

On May 15th, the project will unlock 64 million STRK tokens, which will be distributed among investors and early participants.

Arbitrum (ARB)

  • Unlock Date: May 16

  • Number of Unlocked Tokens: 92,650,000 ARB

  • Current Circulating Supply: 2,653,939,384 ARB

Arbitrum is one of the most popular Layer 2 solutions for Ethereum. Offchain Labs is developing Arbitrum, with the project's mainnet launched in August 2021. Funding for development involved Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, entrepreneur Mark Cuban, and popular crypto exchange Coinbase.

This week, the project will unlock over 90 billion ARB tokens — at the current price, their value is approximately $92.25 million. The coins unfrozen during this event will be distributed among the project's team, advisors, and investors.

ApeCoin (APE)

  • Unlock Date: May 17

  • Number of Unlocked Tokens: 15,600,000 APE

  • Current Circulating Supply: 627,840,909 APE

ApeCoin is the native token of the Ape ecosystem by Yuga Labs, which includes one of the most popular NFT collections, Bored Ape Yacht Club (BAYC). Typically, APE reacts to unlocks with a decrease in value, but considering the renewed interest in non-fungible tokens overall and BAYC in particular, the next dip may not be as significant.

ImmutableX (IMX)

  • Unlock Date: May 17

  • Number of Unlocked Tokens: 25,530,000 IMX

  • Current Circulating Supply: 1,456,815,249 IMX

Immutable X is a Layer 2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in the IMX token sale on the CoinList platform within an hour, followed by a $60 million investment round closure, and in March 2022, received an additional $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings, and other companies. More than half of the IMX supply is still locked.

Manta (MANTA)

  • Unlock Date: May 18

  • Number of Unlocked Tokens: 6,670,000 MANTA

  • Current Circulating Supply: 251,077,745 MANTA

Manta Network is a modular blockchain for zero-knowledge proof (ZK) applications. The tokens unlocked at the end of this week are intended for participants in the public sale round.

Oasis Network (ROSE)

  • Unlock Date: May 18

  • Number of Unlocked Tokens: 171,000,000 ROSE

  • Current Circulating Supply: 6,729,795,897 ROSE

Oasis Network is a Layer 1 blockchain that addresses fundamental data security issues. Its unique ParaTime architecture separates consensus from computation, making Oasis more scalable. The platform's native token, ROSE, is used for fee payments, staking, and consensus-level delegation.

The coins unfrozen during the next unlock will be distributed among early project participants, partners, and the community.

Pixels (PIXEL)

  • Unlock Date: May 19

  • Number of Unlocked Tokens: 54,370,000 PIXEL

  • Current Circulating Supply: 771,041,667 PIXEL

Pixels is a multiplayer game on the Ronin blockchain. The PIXEL token is used as in-game currency and for community governance. Holders can mint NFTs, purchase items and VIP passes, join guilds, and participate in project development votes.

54 million coins, set to enter circulation on May 19th, will be distributed among advisors and the treasury.

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