Organize - Odaily
Editor - Loopy Lu
The token unlocks of 6 projects next week are worthy of attention, among which there are many large unlocks - DYDX, GAL, ACA, SUI.
DYDX is the largest unlocked project, with an unlocked amount of over 100 million and accounting for more than 10% of the circulating supply. The SUI unlocking scale also exceeded US$27 million, and the GAL was less than US$8 million.
In addition, EUL and LQTY will also usher in regular unlocking, accounting for less than 1% of the circulation scale.
The specific unlocking details are as follows:
Large amount unlocked
dYdX
Project official website:https://dydx.exchange/
Official Twitter:https://twitter.com/dYdX
Number of unlocked coins this time: 33.33 million
Amount unlocked this time: (approximately) US$10,200
dYdX exchange is a decentralized perpetual contract exchange that runs on the L2 chain and provides spot, leverage, and lending services.
dYdX utilizes a hybrid infrastructure model, primarily non-custodial, on-chain settlement and an off-chain low-latency matching engine with an order book.
The circulating market value of DYDX exceeds US$800 million. Yesterday, dYdX just announced that Circle’s cross-chain transfer protocol CCTP is integrated into dYdX Chain.
From the perspective of circulation, the locked scale of this token is huge, with 42% of DYDX tokens currently still locked. If calculated in terms of circulation, this unlocking accounts for 12.35% of the total circulation, which is a huge amount of unlocking. And the unlocking scale is as high as over 100 million US dollars, which is also the highest unlocking value among the projects unlocked next week.
Judging from the unlocking history, the scale of this token unlocking is huge, but it is still far from the largest unlocking in history in early December.
From the perspective of ownership, about half of the DYDX unlocked tokens (18.49 million worth 56.75 million) will belong to investors, and the rest will belong to founders, employees, consultants, etc.
Sui
Project official website:https://sui.io/
Official Twitter:https://twitter.com/SuiNetwork
Number of unlocked coins this time: 34.62 million
Amount unlocked this time: (approximately) US$27.5 million
Sui is a next-generation smart contract platform with high throughput, low latency, and asset-oriented programming model powered by Move.
Sui and Aptos are both Move series Layer 1, and they once became famous for their novel technology. Mysten Labs, Sui’s original contributor, believes that Sui’s data model will make it the first blockchain platform with Internet-scale programmability.
Although the scale of this unlocking is large, judging from the token unlocking curve, the unlocking of Sui has been carried out regularly in recent times. Unlocks of similar size occur every month.
It should be noted that unlike the unlocking cycles of other projects, the SUI unlocking cycle is extremely long, and the tokens will not be fully released until 2030. Therefore, the unlocking curve in recent years is more worthy of reference.
Sui will usher in a large-scale unlock this week, with the unlock amount reaching over 27 million US dollars. From the perspective of circulation, this data accounts for about 3.35% of the circulation, which is a large amount.
Galxe
Project official website:https://galxe.com/
Official Twitter:https://twitter.com/Galxe
Quantity unlocked this time: 3 million
Amount unlocked this time: (approximately) US$7.48 million
Galxe is a platform that helps Web3 projects build communities. Galxe can help project parties acquire users through reward programs, and users can obtain rewards from project parties by completing designated tasks. In addition, Galxe also provides digital voucher functions 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 solutions, multi-chain identity Galxe ID and other products.
The GAL token is the payment and governance token of the Galxe ecosystem. Developers use GAL to pay platform fees, such as query fees for Galxe Oracle Engine and Galxe Credential API.
According to GAL token economics, 2 million of the tokens unlocked this time are used for marketing, 1.77 million are used for growth support Round 1, 1.49 million are used for growth support Round 2, 910,000 GAL will belong to consultants and partners. In addition, the foundation will also receive 1 million GAL, and the team will receive 400,000 GAL.
The unlocking curve of GAL is staircase-shaped. From the perspective of circulation share, the amount unlocked this time accounts for approximately 3.34% of the circulation.
From the perspective of token distribution, the GAL unlocked this time will flow to the project party or the entities with strong connections to the project party, namely marketing use (USD 5 million) and team (USD 1.04 million) , Community ($1.46 million).
Currently, 51% of the total GAL supply remains locked.
But judging from the unlocking history, this unlocking is no different from the previous unlockings. Historical unlocks of similar size occur approximately once a month. Investors have ample historical data for reference.
Acala
Project official website:https://acala.network/
Official Twitter:https://twitter.com/AcalaNetwork
Number of unlocked coins this time: 27.43 million
Amount unlocked this time: (approximately) US$3.1 million
Acala is a veteran project in the Polkadot ecosystem, aiming to build Polkadot’s decentralized financial network and liquidity center. The project is a scalable, Ethereum-compatible smart contract platform optimized for DeFi, with built-in liquidity and ready-made financial applications. With its trustless exchange, decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT) and EVM+, Acala gives developers access to the core functionality of Ethereum and the full power of Substrate.
The amount of ACA unlocked this time is relatively large, accounting for approximately 3.1% of the circulating market value. From the perspective of token ownership, approximately US$1.27 million in tokens belong to the team, and approximately US$1.83 million in tokens belong to strategic partners.
Judging from the unlocking history, this unlocking is no different from previous unlocks. Unlocks of the same scale as this unlock occur once a month. Investors have ample historical data for reference.
