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.

5 unlocks to watch this week

Manta (MANTA)

  • Unlock Date: March 18

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

  • Current Circulating Supply: 251,000,000 MANTA

Manta Network is a modular blockchain for zero-knowledge proof (ZK) applications.

Pixels (PIXEL)

  • Unlock Date: March 19

  • Number of Unlocked Tokens: 54,380,000 PIXEL

  • Current Circulating Supply: 771,041,667 PIXEL

Pixels is a multiplayer game on the Ronin blockchain. The #PIXEL token is used as an in-game currency and for community governance. Its holders can mint NFTs, purchase items and VIP passes, join guilds, and participate in project development voting. On March 19, the platform team will unlock over 54 million tokens, distributing some among treasury and advisors, while reserving the remaining coins for community rewards.

dYdX (DYDX)

  • Unlock Date: March 19

  • Number of Unlocked Tokens: 575,430 DYDX

  • Current Circulating Supply: 300,861,404 DYDX

In early 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to its project's 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 remainder will go to future employees, miners, and stability funds. Currently, approximately 30% of the total 1 billion DYDX supply is in circulation. The remaining tokens will be unlocked gradually over the next three years.

Space ID (ID)

  • Unlock Date: March 22

  • Number of Unlocked Tokens: 78,490,000 ID

  • Current Circulating Supply: 430,506,132 ID

Space ID is a universal decentralized identification protocol that connects people, assets, and dApps across different blockchains. The platform enables using a single domain name to represent one's identity across various applications and networks. On March 22, the project will unlock over 78 million #ID tokens, distributing them between the Space ID fund and participants of several rounds of sales.

ImmutableX (IMX)

  • Unlock Date: March 22

  • Number of Unlocked Tokens: 34,190,000 IMX

  • Current Circulating Supply: 1,389,224,659 IMX

Immutable X is a layer-two (L2) solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million within an hour during the #IMX token sale on the CoinList platform, followed by a $60 million investment round closure. In March 2022, it 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. Unlocked tokens on March 22 will be distributed to developers and participants of the private funding round.

Liked the overview? Give it a thumbs up! 👍