Unlock (eng. unlock) is called the unlocking of tokens that were previously frozen under the terms of investment rounds or other funding programs.
Watch the latest cryptocurrency news, video reviews, collections of useful tips, guides and interviews on YouTube channel BeInCrypto. Subscribe, it will be interesting!
Typically, the team carefully works out the tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors – for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked – can seriously affect the asset’s quotes.
The BeInCrypto editors have selected 4 important unlocks to watch next week.
1. Optimism (OP)
- Unlock date: January 30
- Number of tokens unlocked: 24,160,000 OP
- Current circulating offer: 957 378. 568. OP
Optimism is a second layer solution designed to increase the speed and scalability of the Ethereum network. According to DefiLlama, it is one of the leaders among L2 networks in terms of the number of running protocols and the volume of blocked funds (TVL). The OP token is used for voting, managing projects within the Optimism Collective community, and developing the ecosystem. The coins released during the next unlock will be distributed among investors and key participants in the project.
2. Sui (SUI)
- Unlock date: January 31
- Number of tokens unlocked: 4,000,000 SUI
- Current circulating supply: 1,100,947,214 SUI
Sui is a high-performance layer-one (L1) blockchain. The operation and security of the network is ensured by the Proof-of-Stake consensus algorithm. The project was developed by the company Mysten Labs – it was founded in 2021 by a group of former Novi Research employees who were responsible for creating the blockchain Diem and the Move programming language.
Since December 2021, Mysten Labs has raised $336 million across two funding rounds. The project’s main investors include Binance Labs, Franklin Templeton and a16z Crypto.
The next SUI unlock will happen on January 31st. “Unfrozen” tokens will go to the community reserve.
Sponsored
Sponsored
3. dYdX (DYDX)
- Unlock date: February 1
- Number of tokens unlocked: 33,330,000 DYDX
- Current circulating offer: 313 656 557 DYDX
In early 2023, the largest decentralized derivatives trading protocol dYdX announced on making changes to the original tokenomics of the project. According to the update, 30% of DYDX’s total supply will go to early investors, another 30% will be distributed between the team and community reserve, 28% will be used to reward traders and liquidity providers, and the remainder will go to future employees. Currently, more than 50% of the total DYDX supply is in circulation. The remaining tokens will be unlocked in small increments over the next two years.
4. Acala (ACA)
- Unlock date: February 1
- Number of tokens unlocked: 27,430,000 ACA
- Current circulating offer: 885 741 665 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 enables smart contracts and is compatible with external blockchains (for example, Ethereum). ACA tokens unlocked on February 1 will be divided between strategic partners and the project team.
Watch the latest cryptocurrency news, video reviews, collections of useful tips, guides and interviews on YouTube channel BeInCrypto. Subscribe, it will be interesting!
Disclaimer
All information contained on our website is published on the principles of good faith and objectivity, and for informational purposes only. The reader bears full responsibility for any actions he takes on the basis of the information received on our website.
2024-01-28 15:02:00
#Token #Releases #Watch #Week
