Unlocking, or the release of previously frozen tokens, is done in accordance with the terms of an investment round or other funding programs.
Typically, the team carefully designs the token economy to avoid significant selling pressure from sellers at different #unlock stages and to protect the token price. However, certain factors such as liquidity shortage or early investors selling tokens immediately after unlocking can have a significant impact on the asset price.
3 Unlocks to Watch This Week
Galxe (GAL)
Unlock Date: October 27
Number of Unlocked Tokens: 586,670 GAL
Current Circulating Supply: 46,545,329 GAL
Galxe, formerly known as Project Galaxy, is the largest web3 data account network. It helps brands and developers create reliable decentralized products.
The #gal token can be used to pay for the Galaxy Oracle Engine and Credential API. GAL token holders also have voting rights when making important decisions within the Project Galaxy DAO. Coins unlocked during the next unlock will be transferred to the project treasury.
Yield Guild Games (YGG)
Unlock Date: October 27
Number of Unlocked Tokens: 12,580,000 YGG
Current Circulating Supply: 185,125,000 YGG
Yield Guild Games (YGG) is a gaming community specializing in play-to-earn blockchain games. It brings together users from around the world who invest in NFT assets. The platform's native #ygg token is used for in-network services. It can also be staked for rewards, unlocking exclusive content on the Discord server, or voting. Tokens unlocked after a few days will be distributed among the community, developers, investors, and treasury.
SingularityNET (AGIX)
Unlock Date: October 28
Number of Unlocked Tokens: 9,530,000 AGIX
Current Circulating Supply: 1,239,747,261 AGIX
SingularityNET is a decentralized blockchain platform for creating artificial intelligence-based applications. The project's native token - #agix - is used for payment of services. Node operators receive a portion of the fees as compensation for their contribution to maintaining and developing the network. Coins unlocked on October 28th will be distributed among participants of the AGIX-ADA rewards program.
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