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
Optimism (OP)
Unlock Date: April 29
Number of Unlocked Tokens: 24,160,000 OP
Current Circulating Supply: 1,045,379,867 OP
Optimism is a second-layer solution designed to enhance the speed and scalability of the Ethereum network. According to DefiLlama data, it ranks among the leaders of L2 networks in terms of launched protocols and total value locked (TVL). The #OP token is utilized for voting, community project management within the Optimism Collective, and ecosystem development. Coins released during the next unlock will be distributed among investors and key project participants.
Echelon Prime (PRIME)
Unlock Date: April 30
Number of Unlocked Tokens: 1,660,000 PRIME
Current Circulating Supply: 37,523,322 PRIME
Echelon Prime is an open decentralized ecosystem for Play-to-Earn (P2E) games, governed by the community. The native #PRIME token is used to incentivize developers and users, as well as for project development voting and staking. Coins unlocked this week are designated for the reserve and Parallel Studios investors.
Manta Network (MANTA)
Unlock Date: April 30
Number of Unlocked Tokens: 1,870,000 MANTA
Current Circulating Supply: 250,036,078 MANTA
Manta Network is a modular blockchain for zero-knowledge proof (ZK) applications. Tokens unlocked at the end of the week are allocated for project advisors.
dYdX (DYDX)
Unlock Date: May 1
Number of Unlocked Tokens: 33,330,000 DYDX
Current Circulating Supply: 311,081,918 DYDX
In early 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to its initial tokenomics. According to the updated information, 27.7% of the total #DYDX supply will go to early investors, 26.1% to the treasury, 15.3% will be distributed among the team, 7.0% are reserved for future dYdX employees and consultants. The remaining tokens are for liquidity pools and user rewards. Currently, about half of the total 1 billion DYDX supply is in circulation. The remaining tokens will be unlocked gradually over the next three years.
Acala (ACA)
Unlock Date: May 1
Number of Unlocked Tokens: 27,430,000 ACA
Current Circulating Supply: 962,499,997 ACA
Launched in 2019, Acala Network is the first DeFi consortium of its kind, formed by two active ecosystem participants of Polkadot — Laminar and Polkawallet teams. The platform facilitates smart contract operations and is interoperable with external blockchains, such as Ethereum. Tokens ACA unlocked on May 1st will be shared among strategic partners and the project team.
Galxe (GAL)
Unlock Date: May 5
Number of Unlocked Tokens: 5,180,000 GAL
Current Circulating Supply: 89,922,000 GAL
Galxe, formerly known as Project Galaxy, is the largest web3 data credentials network, aiding brands and developers in creating reliable decentralized products. The #GAL token can be used to pay for Galaxy Oracle Engine and Credential API. Additionally, token holders have voting rights in decisions within the Project Galaxy DAO framework. Coins unlocked during the next unlock will be allocated to the project team, the Galxe fund, and the community.
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