Unlock means the release of tokens that were previously frozen according to the terms of investment rounds or other fundraising programs.
Usually, the team carefully plans the tokenomics to avoid putting significant pressure on sellers at various #unlock stages and thus prevent the collapse of the token price. However, certain factors, such as a lack of liquidity or early investors taking profits immediately after token unlock, can significantly impact the asset's quotes.
4 unlocks to watch this week
dYdX (DYDX)
Unlock Date: January 23
Number of Unlocked Tokens: 575,430 DYDX
Current Circulating Supply: 313,189,547 DYDX
In early 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to its initial tokenomics. According to the updated information, 30% of the total #DYDX supply will go to early investors, another 30% will be distributed among the team and community reserves, 28% will be used to reward traders and liquidity providers, and the remaining portion will be allocated to future employees, miners, and stablecoin funds. Tokens unlocked on January 23 will be transferred to liquidity providers.
Acala (ACA)
Unlock Date: January 25
Number of Unlocked Tokens: 4,660,000 ACA
Current Circulating Supply: 885,741,665 #ACA
Launched in 2019, Acala Network is a first-of-its-kind DeFi consortium formed by two active participants in the Polkadot ecosystem—Laminar and Polkawallet. The platform enables smart contract functionality and is compatible with external blockchains, such as Ethereum. Tokens unlocked on January 25 will be distributed to participants in the crowdloan.
Yield Guild Games (YGG)
Unlock Date: January 27
Number of Unlocked Tokens: 16,690,000 YGG
Current Circulating Supply: 281,140,063 #YGG
Yield Guild Games is a blockchain gaming community with a play-to-earn model, bringing together users worldwide who invest in NFT assets. The platform's native token, YGG, is used for in-network payments and can be staked for rewards, spent on unlocking exclusive content on the Discord server, or used for voting. Tokens unlocked after a few days will be allocated among the community, developers, investors, and the treasury.
SingularityNET (AGIX)
Unlock Date: January 28
Number of Unlocked Tokens: 9,110,000 AGIX
Current Circulating Supply: 1,252,665,354 #AGIX
SingularityNET is a decentralized blockchain platform for AI-based applications. The project's native token, AGIX, is used for service payments, and node operators receive a portion of fees as compensation for their contribution to maintaining and developing the network. Unlocked on January 28, the coins will be distributed among participants in the AGIX-ADA rewards program.
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