Weekly Token Unlock Preview: 6 projects unlocked, DYDX unlocked over 100 million

Finishing | Odaily

Edit | Loopy Lu

Token unlocks for 6 projects next week are worth watching, among which there are multiple large unlocks - DYDX, GAL, ACA, SUI.

DYDX is the largest project to unlock, with an unlocked amount of more than 100 million, accounting for more than 10% of the Circulating Supply. SUI unlocked more than $27 million and GAL less than $8 million.

In addition, the EUL and LQTY will also usher in regular unlocks that account for less than 1% of the circulation size.

The specific unlock details are as follows:

Large unlocks

dYdX

Project Official Website:

Official Twitter:

Quantity unlocked this time: 33.33 million

Amount unlocked this time: (approx.) $10,200

dYdX exchange is a Decentralization Perptual Futures Exchange that runs on the L2 chain and provides Spot, leverage, and lending services.

dYdX leverages a hybrid infrastructure model, primarily a non-custodial, on-chain settlement, and off-chain low-latency matching engine with an order book.

DYDX has a circulating Market Cap of over $800 million. Yesterday, dYdX just announced the integration of Circle’s cross-chain interaction protocol, CCTP, into dYdX Chain.

Looking at the Circulating Supply, the Token lockdown is huge, with 42% of DYDX Token still in lockdown. If calculated in terms of Circulating Supply, this unlock accounts for 12.35% of the total Circulating Supply, which is huge. And the unlocking scale is up to more than $100 million, which is also the most valuable project to unlock among the projects unlocked next week.

From the perspective of unlocking history, the scale of this Token unlock is huge, but it is still far from the largest unlock in history in early December.

From the vesting point of view, about half of the DYDX unlocked Tokens this time (18.49 million worth 56.75 million) will go to investors, and the rest will go to founders, employees, consultants, etc.

Sui

Project Official Website:

Official Twitter:

Number unlocked this time: 34.62 million

Amount unlocked this time: (approx.) $27.5 million

Sui is a next-generation Smart Contract platform powered by Move with high throughput, low latency, and an asset-oriented programming model.

Sui and Aptos are both Move Layer 1 and were once known for their innovative technology. Sui’s original contributor, Mysten Labs, believes Sui’s data model will make it the first Blockchain platform with internet-scale Programmability capabilities.

Although the scale of this unlock is large, from the perspective of the Token unlock curve, Sui’s unlocking has been going on regularly in the near future. Unlocks of a similar size will occur once a month.

It is important to note that, unlike other projects, the SUI unlock cycle is extremely long, and the Token will not be fully released until 2030. Therefore, the unlocking curve in recent years is more worthy of reference.

This week, Sui will have a massive unlock, with more than $27 million unlocked. From the perspective of Circulating Supply, this data accounts for about 3.35% of the circulation, which is a large amount.

Galxe

Project Official Website:

Official Twitter:

Quantity unlocked this time: 3,000,000

Amount unlocked: (Approx.) $7.48 million

Galxe is a platform that helps Web3 projects build community. Galxe can help the project team acquire users through the reward program, and users can obtain rewards from the project team by completing the specified tasks. In addition, Galxe also provides digital credentials for users and project parties. The project aims to build an open and collaborative credential data network to help Web3 developers leverage credential data to build better products and more engaging communities. Galxe also has products such as solutions, multi-chain identity Galxe ID, and more.

GAL Token is the payment and governance Token of the Galxe ecosystem. Developers use GAL to pay for platform fees, such as queries for the Galxe Oracle Engine and Galxe Credential APIs.

According to GAL Token Economics, 2 million of the unlocked Token will be used for “Marketing”, 1.77 million for “Growth Support Round 1”, 1.49 million for “Growth Support Round 2”, 910,000 for “Advisors and Partners”, in addition to 1 million GAL for the Foundation and 400,000 for the team.

The unlocking curve of GAL is staircase-like. From the perspective of circulation share, the unlocking volume accounts for about 3.34% of the Circulating Supply.

From the perspective of Token distribution, the GAL unlocked this time will flow to the “project party” or the subject with strong correlation with the project party, which are “marketing use ($5 million)”, “team ($1.04 million)”, and “community ($1.46 million)”.

Currently, 51% of the total GAL supply is still locked.

However, judging from the unlock history, it has been unlocked before, and this unlock is no different from the previous unlocks. Historical unlocks on a similar scale, occurring about once a month. Investors have ample historical data to refer to.

Acala

Project Official Website:

Official Twitter:

Number unlocked this time: 27.43 million

Amount unlocked this time: (approx.) $3.1 million

Acala is a veteran project of the Polkadot ecosystem, aiming to build Polkadot’s DeFi network and liquidity center. The project is a scalable, Ethereum-compatible smart contract platform optimized for Decentralized Finance, with built-in liquidity and ready-made financial applications. With its trustless exchange, DecentralizationStable Coin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala gives developers access to the core functionality of Ethereum and the full functionality of Substrate.

ACA unlocks a large amount this time, accounting for about 3.1% of the circulating Market Cap. From the perspective of Token Attribution, about $1.27 million in Tokens is attributed to the team, and about $1.83 million in Tokens is attributed to strategic partners.

Judging from the unlock history, this unlock is no different from previous unlocks. Unlocks of the same size as this unlock once a month. Investors have ample historical data to refer to.