6 Token Unlocks to Watch Next Week
Date: 2023-08-27 Author: Karina Ziganova Categories: BLOCKCHAIN
However, some factors, such as lack of liquidity or profit-taking by early investors immediately after tokens are unlocked, can seriously hit the asset’s quotes.
1. SingularityNET (AGIX)
Unlock date: August 28
Number of unlocked tokens: 9,820,000 AGIX
Current circulating supply: 1,232,484,305 AGIX
SingularityNET is a decentralized blockchain platform for building applications based on artificial intelligence (AI). The native token of the AGIX project is used to pay for services, and node operators receive part of the fees as compensation for their contribution to maintaining and developing the network. The coins unlocked on August 28th will be distributed among the participants of the AGIX-ADA reward program.
2.dYdX (DYDX)
Release date: August 29
Number of unlocked tokens: 6,520,000 DYDX
Current circulating supply: 173,251,207 DYDX
At the beginning of 2023, the largest decentralized derivatives trading protocol dYdX announced 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, 25% 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. Optimism (OP)
Release date: August 30
Number of unlocked tokens: 24,160,000 OP
Current circulating offer: 716 708 907 OP
Optimism is a layer 2 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 launched protocols and the volume of funds blocked (TVL). The OP token is used for voting, project management in the Optimism Collective, and ecosystem development. The coins released during the next unlock will be distributed among investors and key project participants.
4. Nym (NYM)
Unlock date: August 31
Number of unlocked tokens: 25,000,000 NYM
Current circulating supply: 528,446,257 NYM
Founded in 2018, Nym provides the infrastructure to keep your personal data private. The nodes of the open-source decentralized platform “mix” user traffic without exposing metadata. For this, they are rewarded in native NYM tokens.
The platform has a potentially wide range of use cases, including those outside the crypto industry. The tokens unlocked on August 31 will be available to members of the project team.
5.Hedera (HBAR)
Release date: September 1
Number of unlocked tokens: 1,150,000,000 HBAR
Current Circulating Offer: 33,083,237,216 HBAR
Hedera Hashgraph is a distributed ledger technology-based public network designed for businesses and companies as a platform for decentralized services and applications. Among the investors of the project are the parent company Grayscale Digital Currency Group, one of the most famous Chinese venture funds Fenbushi Digital and Multicoin Capital. At the moment, 59% of HBAR is in circulation.
6. Acala (ACA)
Release date: September 1
Number of unlocked tokens: 27,430,000 ACA
Current circulating offer: 799 979 166 ACA
Launched in 2019, Acala Network is the first of its kind DeFi consortium formed by two teams of active members of the Polkadot ecosystem - Laminar and Polkawallet. The platform provides the operation of smart contracts and is compatible with external blockchains (for example, Ethereum). The ACA tokens unlocked on September 1 will be divided between strategic partners and the project team.
