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. Liquity (LQTY)
Unlock Date: February 5 Number of Tokens Unlocked: 657,350 LQTY Current Circulating Supply: 94,484,684 LQTY
LQTY is the native token of the decentralized lending platform Liquity, which issues loans in the stablecoin LUSD at a 0% rate using ETH as collateral.. LQTY holders can stake coins to receive a portion of the fees generated when opening and closing loans. The tokens unlocked on February 5 will be distributed between the team and project advisors.
2. Galxe (GAL)
Unlock date: February 5 Number of tokens unlocked: 5,180,000 GAL Current circulating supply: 89,922,000 GAL
Galxe, formerly known as Project Galaxy, is the largest web3 credentials network helping brands and developers build trusted decentralized products. GAL token can be used to pay for Galaxy Oracle Engine and Credential API. In addition, its holders have the right to vote when making important decisions within the Project Galaxy DAO. Coins unfrozen during the next unlock will be at the disposal of the project team, the Galxe Foundation and the community.
3. Hashflow (HFT)
Unlock Date: February 7 Number of Tokens Unlocked: 13,620,000 HFT Current Circulating Supply: 339,014,614 HFT
Hashflow is a decentralized exchange (DEX) that provides interoperability, zero slippage, and MEV-proof trading. It offers built-in cross-chain swap functionality without the use of bridges or synthetic assets, allowing you to trade freely across one or multiple networks with guaranteed price execution.
The protocol's native token is called HFT. Users can stake it and gain access to various features of the Hashflow ecosystem. On February 7, the project team will unlock more than 13 million HFT, which will be distributed among developers, early investors and community members.
4. Moonbeam (GLMR)
Unlock Date: February 11 Number of Tokens Unlocked: 3,040,000 GLMR Current Circulating Supply: 826,721,214 GLMR
Moonbeam is a Polkadot parachain that makes it easier to run applications on the Ethereum network while increasing scalability. It also serves as a cleaner and more user-friendly alternative to Substrate, Polkadot's native tool for creating DApps. The GLMR token is used to pay gas for the execution of smart contracts and transaction fees, paying rewards to users responsible for supporting the parachain and managing the network.
On February 11, the project will unlock almost 10 million coins, which will be distributed among the founders and early investors.
5. Aptos (APT)
Unlock Date: February 11 Number of Tokens Unlocked: 24,840,000 APT Current Circulating Supply: 338,363,025 APT
While Aptos' layer 1 blockchain is definitely one of the most successful projects of 2023, it is regularly criticized by the crypto community for its tokenomics, which is largely dominated by venture capital.. Much of the APT supply is still blocked. Unlocks will occur every month for the next ten years. The tokens released on February 11th will be distributed among the Aptos Foundation, community members and investors.
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