Next week, the number of token unlocking projects worthy of attention in the crypto market will increase significantly, and 9 projects will have their tokens unlocked.
Since the launch of Odaily’s weekly token unlocking column, it has rarely seen such a large lineup of token unlocks.
This week, both OP and 1INCH will usher in large-scale unlocks worth over 10 million US dollars.
In addition, there are many projects that have large unlocks of 5% of the super-circulation disk, such as LOOKS, YGG, etc.
The specific unlocking conditions are as follows:
Unlock large sums worth tens of millions of dollars
Optimism
Project official website:https://www.optimism.io/
Official Twitter:https://twitter.com/optimismFND
Number of unlocked coins this time: 24.16 million
Amount unlocked this time: (approximately) US$43 million
Optimism is one of the Ethereum Layer 2 solutions now online and the first L2 of the Optimistic Rollup route that is compatible with EVM. Optimism runs parallel to Ethereum and is able to process transactions at scale while inheriting the security of Ethereum.
Of the more than 24 million tokens released this time, more than 12.75 million belong to core contributors. The remaining 11.4 million coins belong to investors.
OP completed the largest token unlock in its token release history at the end of May, and the current unlock is a regular monthly unlock.
Judging from the number of unlocks, this unlock accounts for 2.74% of the circulating supply, but previous unlocks have provided investors with historical data for reference.
Judging from the amount of unlocks, most regular unlocks have similar numbers. With the advancement of unlocking and the increase in circulation volume, the current proportion of circulation volume of each fixed quota unlocking has gradually decreased. Although the “2.74%” figure unlocked this time is close to 3%, which is relatively large, it has dropped from the “3.3%” unlocked rate in the last similar unlock.
1inch
Project official website:https://1inch.io/
Official Twitter:https://twitter.com/1inch
Number of unlocked coins this time: 98.74 million
Amount unlocked this time: (approximately) US$36.23 million
1inch is a decentralized trading aggregator designed to provide users with a fast, low-cost and efficient trading experience. 1inch automatically selects the best trading path and price based on user needs by aggregating the liquidity of multiple Swaps. Users can trade seamlessly between different DEXs and get the best prices and liquidity.
1INCH token is the native token of the 1inch protocol and can be used to pay transaction fees and obtain lower handling fees. 1INCH token holders can participate in the governance of the 1inch ecosystem and can also be used to obtain additional rewards.
According to 1INCH token economics, the tokens unlocked this time come from the team, early investors, and VCs.
Currently, 20% of the total 1INCH supply is still locked. Among the tokens unlocked this week, 1INCH is the token with the largest unlocked share, accounting for nearly 10% of the current circulating supply.
Previously, 1INCH had appeared in Odaily’s token unlocking column for a long time. For a long time, a fixed amount of 1INCH token has been unlocked almost every week, but each unlocking amount is only less than 10,000 US dollars, which has always been the smallest unlocking amount among well-known projects that week.
However, it is worth noting that the unlocking method of 1INCH is rather special. Although a small amount will be unlocked in just a few days, a large amount will be unlocked every six months.
In early June this year, there will be a large-scale unlocking of nearly 200 million 1INCH, which is almost the largest unlocking action in the history of this token.
Next week, 1INCH will usher in another semi-annual large-amount unlocking action. This time, more than 36 million US dollars will be unlocked. If calculated in terms of circulation, it will be close to 10% of the current number of circulating tokens.
Coingecko data shows that the current 24-hour trading volume of the 1INCH token is approximately US$21 million, and the amount unlocked this time is nearly twice the 24-hour trading volume.
Large amount unlocked
LooksRare
Project official website:https://looksrare.org/
Official Twitter:https://twitter.com/LooksRare
Quantity unlocked this time: 37.5 million
Amount unlocked this time: (approximately) US$4.17 million
Looks Rare is an NFT trading platform. At the beginning of its release, it relied on airdrops to attract the attention of a large number of investors.
Currently, LOOKS circulation has reached 91%, and the unlocking is nearing completion. Only 9% of the tokens have not yet been unlocked. After this unlocking is completed, all LOOKS tokens will be released.
The unlocking curve of LOOKS is more interesting. A large amount will be unlocked every quarter, while small amounts will be unlocked linearly during the rest of the time.
Currently, the last large unlock accounts for nearly 7% of the tokens in circulation, compared to the last token unlock. As a more special last unlock, the unlocking behavior of LOOKS still deserves the attention of investors.
Yield Guild Games
Project official website:https://yieldguild.io/
Official Twitter:https://twitter.com/YieldGuild
Number of coins unlocked this time: 16.69 million
Amount unlocked this time: (approximately) 6.48 million
YGG is a game guild DAO project that was once popular. The guild buys props in GameFi and rents them to players, and extracts the players gold income.
The unlocking information shows that more than half (9.76 million) of the tokens unlocked this time belong to investors, and the rest belong to the community, treasury, and consultants.
Next week, YGG will see about $6.5 million unlocked. This unlock accounts for 5.84% of the circulating supply.
In recent times, YGG has been unlocking frequently. YGG also has a large number of tokens that have not flowed to the market, and 48% of the tokens are still locked. From the perspective of the release model, this unlock is not special. Unlocks of similar size or magnitude are happening every month. And there will be no larger-scale unlocks in the future that are different in magnitude from such regular unlocks. Investors have ample historical data for reference.
This week, a large number of YGG tokens have been unlocked, so investors are advised to pay attention to capture market opportunities.
General unlock
In addition to the above-mentioned large-amount unlocking projects, there are also AI project AGIX, DEX project dYdX, infrastructure NYM and ACA, which will all usher in relatively small-amount token unlocking actions.
