The most important token unlocks of the next week

Unlock (English). unlock) is the unlocking of tokens that were previously frozen under the terms of investment rounds or other programs to attract financing.

Usually the team carefully works out tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors — for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked — can seriously affect the asset’s quotes.

The BeInCrypto editors have selected 5 important unlocks to watch next week.

1. dYdX

Unlock Date: January 23 Number of Tokens Unlocked: 575,430 DYDX Current Circulating Supply: 313,189,547 DYDX

In early 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% will be used to reward traders and liquidity providers, and the remainder will go to future employees, miners and stabilization funds. Tokens unlocked on January 23 will be transferred to liquidity providers.

2. Acala (ACA)

Unlock Date: January 25 Number of Tokens Unlocked: 4,660,000 ACA Current Circulating Supply: 885,741,665 ACA

Launched in 2019, 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 enables smart contracts and is compatible with external blockchains (for example, Ethereum). ACA tokens unlocked on January 25 will go to crowdlon participants.

3. Yield Guild Games (YGG)

Unlock Date: January 27 Number of Tokens Unlocked: 16,690,000 YGG Current Circulating Supply: 281,140,063 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 investing in NFT assets. The native token of the YGG platform is used to pay for services within the network. It can also be staked to earn rewards, used to unlock exclusive content on the Discord server, or used for voting.. The tokens, which will be unfrozen in a few days, will be distributed among the community, developers, investors and treasury.

4. SingularityNET (AGIX)

Unlock Date: January 28 Number of Tokens Unlocked: 9,110,000 AGIX Current Circulating Supply: 1,252,665,354 AGIX

SingularityNET is a decentralized blockchain platform for creating applications based on artificial intelligence (AI). The native token of the AGIX project is used to pay for services, and node operators receive a portion of the fees as compensation for their contribution to maintaining and developing the network. The coins unlocked on January 28 will be distributed among participants in the AGIX-ADA rewards program.

Disclaimer

All information contained on our website is published on the principles of good faith and objectivity, and for informational purposes only.. The reader bears full responsibility for any actions he takes on the basis of the information received on our website.