7 Token Unlocks to Watch Out For in August
Date: 2023-07-31 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
1. Acala (ACA)
Unlock date: August 1
Number of unlocked tokens: 27,430,000 ACA
Current circulating supply: 771,391,666 ACA
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 August 1 will be divided between the team project and strategic partners.
2. dYdX (DYDX)
Unlock date: August 1
Number of unlocked tokens: 6,520,000 DYDX
Current circulating supply: 171,133,553 DYDX
At the beginning of 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to the project's original tokenomics. According to the update, 30% of the total supply of DYDX will go to early investors, another 30% will be distributed between the team and community reserves, 28% They are used to reward traders and liquidity providers, and future employees, miners and stabilization funds will receive the remainder. At the moment, 17% 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: August 12
Number of unlocked tokens: 4,540,000 APT
Current circulating supply: 218,166,150 APT
While Aptos' layer-one 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 APT supply – more than 80% – is still locked. Unlocks will take place every month for the next ten years.
4. ImmutableX (IMX)
Unlock date: August 12
Number of unlocked tokens: 18,080,000 IMX
Current circulating supply: 1,081,888,199 IMX
Immutable X is a layer-two (L2) solution for scaling NFTs 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 an investment round of $60 million, and in March 2022 received another $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings and other companies. More than half of IMX's supply is still blocked. The tokens unfrozen on August 12 will be received by developers and participants in a private funding round.
5. The Sandbox (SAND)
Unlock date: August 14
Number of unlocked tokens: 332,550,000 SAND
Current circulating supply: 1,934,931,926 SAND
The Sandbox is one of the most popular metaverses built on the Ethereum blockchain. Users of the platform can develop a virtual world, create real estate and objects, move around and participate in mini-games. The native SAND token is used for interaction with the ecosystem and settlements. Tokens that will be unlocked on August 14 account for more than 17% of the circulating supply, so unlocking can provoke increased volatility and significantly affect the quotes of the asset.
6. ApeCoin (APE)
Unlock date: August 17
Number of unlocked tokens: 15,600,000 APE
Current circulating supply: 368,593,750 APE
ApeCoin is the native token of Yuga Labs' Ape ecosystem, which includes one of the most popular NFT collections, the Bored Ape Yacht Club. Usually, APE reacts to unlocks with a fall - and given the recent BAYC sell-off, the next drawdown may turn out to be especially large-scale.
7. Avalanche (AVAX)
Unlock date: August 26
Number of unlocked tokens: 9,540,000 AVAX
Current circulating supply: 346 020 014 AVAX
Avalanche is an open-source platform for running decentralized applications, as well as deploying public and private blockchains in a single, scalable ecosystem. The AVAX token is used to pay fees and settle on Avalanche subnets. The asset can also be staked with an annual yield of 11%. At the end of August, the circulating supply of AVAX will increase by more than 9 million — the unlocked tokens will be distributed among strategic partners, the fund Avalanche, the project team and airdrop participants.
