Razlokom (eng. unlock) called the unlocking of tokens that were previously frozen under the terms of investment rounds or other fundraising programs.
Usually, 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 bring down the price of the token. However, some factors, such as lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked, can seriously hit the asset’s quotes.
The BeInCrypto editors have chosen 7 important unlocks to keep an eye on in July.
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1. Sui (SUI)
Unlock Date: July 3 Number of Tokens Unlocked: 34.61M SUI (0.35% of total supply) Value of Tokens Unlocked: $23.4M Total Market Cap: $6.81B
Sui is a high-performance first-level (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 $336M in two funding rounds. Among the main investors of the project are Binance Labs, Franklin Templeton and a16z Crypto.
The next SUI unlock will take place on July 3rd. “Unfrozen” tokens will be sent to participants of the public pre-sale.
2. dYdX (DYDX)
Unlock Date: July 4 Number of Tokens Unlocked: 6,520,128 DYDX (0.65% of total supply) Value of Unlocked Tokens: $13.82M Total Market Cap: $2.12B
In early 2023, the largest decentralized derivatives trading protocol dYdX announced about making changes to the initial tokenomics of the project. According to the update, 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 future employees, miners and stabilization funds will receive the remainder. At the moment, 23.65% of the total supply of 1 billion DYDX is in circulation. The remaining tokens will be unlocked in small installments over the next three years.
3. Aptos (APT)
Unlock date: July 12 Number of unlocked tokens: 4.54M APT (0.454% of total supply) Value of unlocked tokens: $32.98M Total market capitalization: $1.68B
Although the Aptos Tier 1 blockchain can definitely be called one of the most successful projects of this year, it is regularly criticized by the crypto community for its tokenomics, which is largely dominated by venture capital. Most of the supply – 83.37% APT – is still blocked. The unlocks will take place every month for the next ten years.
4. ImmutableX (IMX)
Unlock Date: July 15 Number of Tokens Unlocked: 18.075M IMX (0.90% of total supply) Value of Tokens Unlocked: $13.1M Total Market Cap: $1.45B
Immutable X is a second layer (L2) solution for NFT scaling on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just an hour as part of the IMX token sale on the CoinList platform, then closed the investment round in the amount of $60 million, and in March 2022 received another $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings and others companies. More than half of the IMX offer is still blocked.
5. ApeCoin (APE)
Unlock Date: July 17 Number of Tokens Unlocked: 15.6M APE (1.56% of total supply) Value of Tokens Unlocked: $34.8M Total Market Cap: $2.3B
ApeCoin is a native token of Yuga Labs’ Ape ecosystem, which includes one of the most popular NFT collections Bored Ape Yacht Club. Usually, APE reacts to splits with a fall – and given the recent sale of BAYC, the drawdown can be especially massive.
6. Axie Infinity (AXS)
Unlock Date: July 22 Number of Tokens Unlocked: 3.42M AXS (1.26% of total supply) Value of Tokens Unlocked: $19.6M Total Market Cap: $1.55B
Axie Infinity is one of the most famous Play-to-Earn projects created by Sky Mavis studio. The game takes place in a virtual environment inhabited by creatures called axis. The platform allows you to cross them, creating new characters. Players earn rewards by winning battles and selling axis.
The native token of the AXS platform is used to develop the platform, pay out staking rewards, and solve a number of other tasks. The coins released on July 22 will be intended for users who have locked their assets in smart contracts.
7. Space ID (ID)
Unlock date: July 22 Number of unlocked tokens: 15.15M ID (0.76% of total supply) Value of unlocked tokens: $4.39M Total market capitalization: $522.77M
Space ID is a universal decentralized identity protocol that connects people, assets, and dApps across different blockchains. The platform allows you to use one domain name to represent your identity across all individual applications and networks.
On July 22, the project will unlock more than 15 million tokens, which will be distributed between the Space ID Foundation and airdrop participants.
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2023-07-01 17:09:00
#token #unlocks #eye #July
