5 Token Unlocks to Watch Next Week
Date: 2023-07-24 Author: Karina Ziganova Categories: IN WORLD
Usually, the team carefully works out tokenomics so as not to cause much pressure from sellers at various stages of unlocking and thereby bring down the price of the token. However, some factors, such as a lack of liquidity or profit-taking by early investors immediately after unlocking tokens, can seriously hit the asset's quotes.
1. Acala (ACA)
Unlock date: July 25
Number of tokens unlocked: 4.66 million ACA
Current circulating supply: ACA 771.39 million
Launched in 2019, the Acala Network is a first-of-its-kind DeFi consortium formed by two teams of active participants in the Polkadot ecosystem — Laminar and Polkawallet. The platform provides smart contracts and is compatible with external blockchains (for example, Ethereum). ACA tokens unlocked on July 25 will be divided among the participants crowdlon is a fundraiser from the community.
2. Yield Guild Games (YGG)
Unlock date: July 27
Number of Unlocked Tokens: 13.02 million YGG
Current circulating supply: 185.125 million YGG
Yield Guild Games is a gaming community focused on blockchain games with a play-to-earn model. It brings together users from all over the world who invest in NFT assets. The platform's native token, YGG, is used to pay for on-chain services. It can also be staked to earn rewards, spend on unlocking exclusive content on the Discord server or use it for voting. The tokens, which will be unfrozen in a few days, will be distributed among the community, developers, investors, and the treasury.
3. SingularityNET (AGIX)
Unlock date: July 28
Number of unlocked tokens: 9.97 million AGIX
Circulating supply: 1.22 billion AGIX
SingularityNET is a decentralized blockchain platform for building applications based on artificial intelligence (AI). The project's native token, AGIX, is used to pay for services, and node operators receive a portion of the fees as compensation for their contribution to the maintenance and development of the network. The coins unlocked on July 28 will be distributed among the participants of the AGIX-ADA rewards program.
4. Galxe (GAL)
Release date: July 29
Number of unlocked tokens: 586,666 GAL
Current circulating supply: 46.545 million GAL
Galxe, formerly known as Project Galaxy, is the largest web3 credential data network that helps brands and developers build robust decentralized products. The GAL token can be used to pay for the Galaxy Oracle Engine and Credential API. In addition, its holders have the right to vote in making important decisions within the Project Galaxy DAO.
5. Optimism (OP)
Unlock date: July 30
Number of tokens unlocked: 24.16 million OP
Current circulating supply: 679.08 million OP
Optimism is a second-layer solution designed to increase the speed and scalability of the Ethereum network. According to DefiLlama, it is among the leaders among L2 networks in terms of the number of protocols launched and the amount of funds blocked (TVL). The OP token is used for voting, managing projects in the Optimism Collective, and developing the ecosystem. The coins released during the next unlock will be distributed among investors and key project participants.
