6 Token Unlocks
to Watch Next Week
Token unlock involves releasing tokens that were previously blocked under
fundraising terms. Projects carefully schedule these releases to avoid market
pressure and prevent a drop in token prices.
However, factors like lack of liquidity or early investor profit-taking can
significantly impact an asset s dynamics. Here are six major token
unlocks to watch next week.
dYdX (DYDX)
Unlock date: July 1
Number of tokens unlocked: 8.33 million DYDX
Current circulating supply: 268.29 million DYDX
In early 2023, dYdX, the largest decentralized perpetual futures trading
protocol, announced changes to its initial tokenomics . According to the
update, 27.7% of dYdX’s total supply will go to early investors, 26.1% to the
treasury, 15.3% to the team, and 7.0% to future dYdX employees and
consultants.
Most DYDX unlocked on July 1 will be distributed among investors and the
project team, with the remaining tokens reserved for future employees.
Read more: GMX vs. dYdX: A Comparison of Two Popular Decentralized Exchanges
DYDX Unlock. Source: token.unlocks
Sui (SUI)
Unlock date: July 1
Number of tokens unlocked: 64.19 million SUI
Current circulating supply: 2.42 billion SUI
Sui is a high-performance Layer-1 blockchain that utilizes a Proof-of-Stake• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
consensus to increase network operation and security . The project was
developed by Mysten Labs, a company founded in 2021 by former Novi Research
employees who created the Diem blockchain and the Move programming language.
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The SUI token facilitates governance, enabling token holders to vote on
important proposals and shape the platform’s future. The next unlock will
happen on July 1, releasing a significant portion of tokens set aside for
Series A and B participants, community reserve, and the Mysten Labs treasury.
Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024 SUI Unlock.
Source: token.unlocks
io.net (IO)
Unlock date: July 1
Number of tokens unlocked: 7.5 million IO
Current circulating supply: 65 million IO
Io.net is a DePIN protocol built on the Solana blockchain infrastructure,
focusing on providing computing power from GPUs to artificial intelligence
(AI) and machine learning (ML) companies. The project gained significant
attention after successfully raising $30 million in a Series A round led by
Hack VC.
IO is the utility and governance token of the io.net. Users utilize it for
staking, delegating, paying fees, rewarding node runners, and accessing DAO
voting within the platform. On July 1, io.net will distribute 7.5 million IO
tokens to its community members.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)? IO
Unlock. Source: token.unlocks
Galxe (GAL)
Unlock date: July 5
Number of tokens unlocked: 3 million GAL
Current circulating supply: 115 million GAL
Galxe (previously Project Galaxy) is a Web3 credential data network that
empowers developers to leverage digital credentials. It enables projects to
reward and engage their users through various credential-based activities.
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The GAL token is the native utility token of the Galxe platform, used for
governance, staking , and accessing premium features.
On July 5, the project will unlock and distribute 3 million GAL tokens among
the Galxe Foundation, team, and community.
Read more: Decentralized Identity and the Future of Web3: What To Know GAL
Unlock. Source: token.unlocks
Hashflow (HFT)
Unlock date: July 7
Number of tokens unlocked: 13.62 million HFT
Current circulating supply: 406 million HFT
Hashflow is a decentralized exchange (DEX) that facilitates seamless
cross-chain trading and asset swaps with zero slippage . It leverages advanced
market-making techniques to pr efficient and accurate pricing. The HFT token
is the native utility token of the Hashflow platform, used for governance,
staking, and rewarding users.
On July 7, the project will increase the circulating supply by 13.62 million
HFT. According to TokenUnlocks , early investors and the core team will
receive 7.63 million tokens. The remaining coins will be used for community
rewards and ecosystem development.
Read more: 17 Best No KYC Crypto Exchanges: Top Choices in 2024
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HFT Unlock. Source: token.unlocks
Ethena (ENA)
Unlock date: July 7
Number of tokens unlocked: 14.89 million ENA
Current circulating supply: 1.61 billion ENA
Ethena is a synthetic currency protocol built on Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum. It provides a
native cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта solution independent of traditional banking, and also
offers global users a dollar-denominated savings instrument called the
‘Internet Bond.’
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The ENA token enables holders to vote on governance proposals. On July 7, the
project will unlock almost 15 million ENA dedicated to ecosystem development.
Read more: What Is Ethena Protocol and its USDe Synthetic Dollar? ENA Unlock.
Source: token.unlocks
Other next-week unlocks include Maverick Protocol (MAV), ZetaChain (ZETA), and
Acala (ACA) with a total value exceeding $122 million.
Although many consider token unlocks bearish, a well-planned schedule can
strengthen a project s long-term viability. Aligned with milestones and
development progress, unlocks will motivate team members, boost community
engagement, and promote ecosystem growth.
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