Token unlocking involves releasing tokens that were previously blocked under the terms of a fundraising. Projects carefully schedule releases to avoid market pressure and prevent token prices from falling. The total value of tokens unlocked next week will exceed $180 million.

However, factors such as lack of liquidity or early investor sell-offs can significantly impact asset volatility. Here are eight major token unlock events to watch out for in the coming week.

Yield Guild Games

  • Unlock Date: August 27

  • Number of tokens unlocked: 14.08 million YGG

  • Current Circulating Supply: 380.83 Million YGG

Yield Guild Games (YGG) is a gaming community that operates on the “play to earn” model. YGG brings together gamers from around the world, allowing them to earn cryptocurrency rewards through participating in various blockchain games. YGG invests in NFT assets, such as in-game items and virtual land, that guild members can borrow and use in their gaming activities.

Over the next few days, Yield Guild Games (YGG) will unlock a large portion of its tokens. These tokens will be distributed to the community, founders, investors, and reserves, supporting the development and expansion of the guild ecosystem.

SingularityNET (AGIX)

  • Unlock Date: August 28

  • Number of tokens unlocked: 8.32 million AGIX

  • Current Circulating Supply: 527.10 Million AGIX

SingularityNET is a decentralized blockchain platform designed to develop and host artificial intelligence (AI) applications. The platform's native token, AGIX, is essential for transactions, governance, and rewarding node operators who maintain and grow the network. SingularityNET also supports cross-chain functionality, allowing AGIX tokens to operate on both the Cardano and Ethereum networks.

This August, an important event for AGIX token holders will take place when unlocked tokens are distributed to participants of the AGIX-ADA rewards program. This initiative aims to incentivize and reward community members who actively contribute to the development of the platform.

Optimism (OP)

  • Unlock Date: August 31

  • Number of tokens unlocked: 31.34 million OP

  • Current Circulating Supply: 1.18 Billion OP

Optimism is a Layer-2 scaling solution designed to improve the speed and reduce transaction costs on the Ethereum network. The OP token plays an important role in governance, allowing holders to vote on proposals and decisions that shape the development and governance of the network.

On August 31, Optimism will increase its circulating supply by 31.34 million OP. According to TokenUnlocks, the project will distribute these tokens to core contributors and investors.

Echelon Prime (PRIME)

  • Unlock Date: August 31

  • Number of tokens unlocked: 750,000 PRIME

  • Current Circulating Supply: 44.52 Million PRIME

PRIME is the native token of the Echelon Prime Foundation, an organization focused on developing Web3 gaming ecosystems. The foundation provides tools and resources for new gaming models and economies, with its first implementation in the fantasy card game Parallel.

On August 31, Echelon Prime will unlock 750,000 PRIME tokens for Parallel Studios investors. This unlock is part of a larger token vesting schedule that begins on July 31, 2023. These tokens will be unlocked monthly until July 2025.

dYdX (DYDX)

  • Unlock Date: September 1

  • Number of tokens unlocked: 8.33 million DYDX

  • Current Circulating Supply: 227.34 Million DYDX

In early 2023, dYdX, the largest decentralized futures trading protocol, announced changes to its initial tokenomics. According to the update, 27.7% of dYdX's total supply will go to early investors, 26.1% to reserves, 15.3% to the team, and 7.0% to future dYdX employees and advisors.

On September 1, approximately 8.33 million DYDX tokens will be unlocked. The majority of these tokens will be distributed to investors and the project team, while a portion will be reserved for future employees.

Sui (SUI)

  • Unlock Date: September 1

  • Number of tokens unlocked: 64.19 million SUI

  • Current Circulating Supply: 2.59 Billion SUI

Sui is a high-performance Layer-1 blockchain that uses a Proof-of-Stake consensus mechanism to enhance network performance and security. The project is developed by Mysten Labs, a company founded in 2021 by former Novi Research employees who created the Diem blockchain and the Move programming language.

The SUI token supports governance, allowing holders to vote on important proposals and shape the future of the platform. The next unlock will take place on September 1, when a large amount of tokens will be allocated to Series A and B investors, the community reserve, and the Mysten Labs fund.

ZetaChain (ZETA)

  • Unlock Date: September 1

  • Number of tokens unlocked: 53.89 million ZETA

  • Current Circulating Supply: 343.07 Million ZETA

ZetaChain is a decentralized blockchain platform that enables seamless interoperability between different blockchain networks. One of its key features is cross-chain communication, which allows the exchange of tokens and data between different blockchains, such as Ethereum and Binance Smart Chain.

On September 1, ZetaChain will unlock nearly 54 million ZETA tokens. The newly issued tokens will be allocated to various initiatives, including a user growth fund, ecosystem growth fund, support for core contributors, advisory roles, and liquidity incentives.

Athena (ENA)

  • Unlock Date: September 1

  • Number of tokens unlocked: 14.89 million ENA

  • Current Circulating Supply: 1.80 Billion ENA

Ethena is a synthetic currency protocol built on the Ethereum platform. It provides a native cryptocurrency solution that is independent of the traditional banking system, while providing global users with a dollar-denominated savings instrument called “Internet Bonds.”

The ENA token allows holders to vote on governance proposals. On September 1, the project will unlock nearly 15 million ENA dedicated to ecosystem development.

Other major token unlocks coming next week include Tornado Cash (TORN), Euler (EUL), 1inch (1INCH), and Manta (MANTA), with a total value exceeding $179 million. While many view token unlocks as a bearish trend, a well-planned unlock schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will boost team members’ motivation, increase community engagement, and drive ecosystem growth.

Source: https://tapchibitcoin.io/8-projects-to-open-tokens-today-total-value-over-180-million-dollars.html