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
dYdX (DYDX)
Unlock Date: April 1
Number of Unlocked Tokens: 33,330,000 DYDX
Current Circulating Supply: 293,730,288 DYDX
In early 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to the project's initial tokenomics. According to the updated information, 30% of the total #DYDX supply will be allocated 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 supply of 1 billion DYDX is in circulation. The remaining tokens will be unlocked gradually over the next three years.
Acala (ACA)
Unlock Date: April 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 teams of active participants in the Polkadot ecosystem — Laminar and Polkawallet. The platform provides smart contract capabilities and is compatible with external blockchains such as Ethereum. Unlocked tokens ACA, as of April 1st, will be distributed among strategic partners and the project team.
Sui (SUI)
Unlock Date: April 3
Number of Unlocked Tokens: 34,620,000 SUI
Current Circulating Supply: 1,230,916,717 SUI
Sui is a high-performance Layer 1 blockchain. Network operation and security are ensured by the Proof-of-Stake consensus algorithm. The project was developed by Mysten Labs, founded in 2021 by a group of former Novi Research employees responsible for creating the Diem blockchain and Move programming language. Since December 2021, Mysten Labs has raised $336 million in two financing rounds. Key investors in the project include Binance Labs, Franklin Templeton, and a16z Crypto. The next #SUI unlock will occur on April 3rd. The "thawed" tokens are reserved for the project community.
Galxe (GAL)
Unlock Date: April 5
Number of Unlocked Tokens: 3,000,000 GAL
Current Circulating Supply: 89,922,000 GAL
Galxe, formerly known as Project Galaxy, is the largest web3 data account network, helping brands and developers create reliable decentralized products. The #GAL token can be used to pay for the Galaxy Oracle Engine and Credential API. Additionally, token holders have voting rights in the Project Galaxy DAO for making important decisions. Coins unlocked during the next thaw will be allocated to the project team, Galxe fund, and community.
Hashflow (HFT)
Unlock Date: April 7
Number of Unlocked Tokens: 13,620,000 HFT
Current Circulating Supply: 382,979,392 HFT
Hashflow is a decentralized exchange (DEX) that provides compatibility, zero slippage, and MEV attack-resistant trading. It offers a built-in cross-chain swap function without using bridges or synthetic assets, enabling free trading in one or multiple networks with guaranteed price execution. The native token of the protocol is called HFT. Users can stake it and access various ecosystem functions of Hashflow. On April 7th, the project team will unlock over 13 million #HFT tokens, which will be distributed among developers, early investors, and community participants.
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