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.
3 unlocks to watch this week
Liquity (LQTY)
Unlock Date: June 5
Number of Unlocked Tokens: 657,350 LQTY
Current Circulating Supply: 96,083,136 LQTY
#LQTY is the native token of the decentralized lending platform Liquity, which issues loans in the stablecoin LUSD at a 0% interest rate using #ETH as collateral. LQTY holders can stake their coins to receive a portion of the fees generated from opening and closing loans. Tokens unlocked on June 5 will be distributed among the project team and advisors.
Galxe (GAL)
Unlock Date: June 5
Number of Unlocked Tokens: 2,030,000 GAL
Current Circulating Supply: 115,513,331 GAL
Galxe, formerly known as Project Galaxy, is the largest web3 credential data network that helps brands and developers create robust decentralized products. The #GAL token can be used to pay for the Galaxy Oracle Engine and Credential API. Additionally, its holders have voting rights on important decisions within the Project Galaxy DAO. Tokens unlocked in the next vesting round will be allocated to the project team, the Galxe foundation, and the community.
Hashflow (HFT)
Unlock Date: June 7
Number of Unlocked Tokens: 13,620,000 HFT
Current Circulating Supply: 406,015,114 HFT
Hashflow is a decentralized exchange (DEX) that ensures interoperability, zero slippage, and MEV attack-protected trading. It offers a built-in cross-chain swap feature without the use of bridges or synthetic assets, allowing for seamless trading across one or multiple networks with guaranteed price execution.
The native token of the protocol is called HFT. Users can stake it to access various features within the Hashflow ecosystem. On June 7, the project team will unlock over 13 million HFT, which will be distributed among developers, early investors, and community participants.
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