Next week, many projects will usher in token unlocking, including many established and well-known projects, including AVAX, LDO, etc. In addition, items such as 1INCH and ACA will be unlocked regularly.
Avalanche, the star “new public chain” of the previous cycle, is the project with the largest unlock amount next week, and will unlock over $100 million in tokens. Among cutting-edge projects, the unlocked volume of Space ID and Injective is also relatively large. The unlocked volume of ID accounts for 6.46% of the circulating market value, and the unlocked volume of INJ accounts for 3.41% of the circulating market value. These are enough to have a potential impact on the market and deserve the attention of investors.
Large amount unlocked
Avalanche
Project official website:https://www.avax.network/
Official Twitter:https://twitter.com/avax
Number of unlocked coins this time: 9.54 million
Amount unlocked this time: (approximately) US$103 million
Recent news:Avalanche Foundation awards $3M worth of AVAX to Dexalot
Related Reading:Full text of the testimony of the founder of Avalanche: We are standing on the precipice of a new era
Avalanche was riding high on the “new public chain” wave of the last bull market. As a high-performance EVM Layer 1, with the support of star capital such as 3AC, the price of AVAX tokens has been rising rapidly.
The latest unlocking plan of AVAX tokens will be released linearly in the next period of time. This unlocking is a large-scale unlocking that occurs every three months.
Calculated at current prices, the unlocked amount will release tokens worth more than $100 million, making it the project with the largest token unlock amount this week. The current circulating supply of AVAX tokens is approximately 340 million, and the unlocked volume of nearly 10 million AVAX tokens accounts for approximately 3% of all circulating tokens. As a public chain project, the unlocking speed of this token is also slower than that of projects on the same track. Currently, about 47% of the tokens are still locked and will be fully unlocked in the next few years.
Space ID
Project official website:https://space.id/
Official Twitter:https://twitter.com/SpaceIDProtocol
Number of unlocked coins this time: 18.49 million
Amount unlocked this time: (approximately) US$3.66 million
Recent news:SPACE ID releases version 3.0 with major platform and governance improvements
Related Reading:Understand the Binance IEO project Space ID in one article
Space ID is an on-chain DID project. This project provides users with .bnb, .eth, and .arb domain name services. The intention is to build this project into a decentralized multi-chain identity for users. In addition, the project party also provides users with a domain name trading market.
Space ID is not a very new project in terms of time. The project came out as early as April 2022. However, the ID token is a relatively new token, and the project did not complete token issuance until this year. In March 2023, Binance officially announced that ID Token would be its 30th Launchpad project.
The governance token whose ID is SPACE ID has a total supply of 2 billion. ID has three main functions.
Its token economics are as follows:
20% is seed round sales; 8% is used for strategic sales; 15% belongs to the core team; 7% belongs to consultants; 10% is used for the ecosystem; 13% is used for marketing; 12% belongs to the foundation; 10% is used by Airdrop in the community; 5% for Binance Launchpad.
ID can be used for staking to obtain market transaction fee discounts and domain name registration discounts. Used as a payment method in the SPACE ID ecosystem and Web3 Names SDK integration. Participate in the governance of SPACE ID DAO.
Currently, only 18% of IDs are in circulation, with 82% of tokens still to be unlocked.
The IDs unlocked this time accounted for about 6.46% of the circulating supply, which is a relatively high number and deserves the attention of investors.
From the perspective of historical unlocking, ID tokens will usher in a large amount of unlocking every month.
It’s not just the unlocking volume that deserves attention. From the perspective of transaction volume, Coingecko data shows that ID’s 24-hour transaction volume is approximately US$9.9 million, and this unlocking volume is as high as US$3.66 million. ID token is the token that will have the greatest impact on circulation among the unlocked tokens next week, and deserves investors attention.
Injective
Project official website:https://injective.com/
Official Twitter:https://twitter.com/Injective_
The number of unlocked this time: 2.86 million pieces
Amount unlocked this time: (approximately) 22.62 million US dollars
Recent news:Injective Releases Token Economics Upgrade, Significantly Increases INJ Weekly Burn
Related Reading:Understanding the Injective Ecological Alliance in One Article
Injective is a Layer 1 network built around the DeFi order book, similar to Sei, which has received a lot of attention recently. Injective is optimized for DeFi, interoperable, has a consensus layer and sovereignty on Cosmos. Its infrastructure covers high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm.
Other protocols in the ecosystem can use Injectives onchain-orderbook to start liquidity and matching services, adding a layer of composition. Built around the order book, this network can provide users with a high-performance DEX trading experience that aggregates the liquidity of the entire chain.
The number of INJ tokens unlocked this time is relatively large, as high as 2.86 million. In terms of circulation, it has occupied 3.41% of the circulation.
But judging from the unlocking history, INJ will be unlocked every one or two months. On July 21st, the last time INJ was unlocked, 267 tokens worth $29 million were unlocked at one time. Compared with historical unlocking, the unlocking amount this time is similar to the past.
Although this unlocking is quite impressive in terms of its share of circulation. However, many unlocks in history are similar to this one, and investors can obtain sufficient historical data for reference.
regular unlock
1inch
Project official website:https://1inch.io/
Official Twitter:https://twitter.com/1inch
The number of unlocked this time: 274,000 pieces
Amount unlocked this time: (approximately) $68,000
This time, less than 300,000 1INCH tokens were unlocked, and the market value of the unlocked tokens was only less than 0.1% of the market value of 1INCH.
Acala
Project official website:https://acala.network/
Official Twitter:https://twitter.com/AcalaNetwork
The number of unlocked this time: 4.66 million pieces
Amount unlocked this time: (approximately) US$224,000
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 about 200,000 US dollars, which only accounts for 0.58% of the circulating market value, which is less than 1%. The number of unlocks this time is much lower than the previous unlocks.
Lido
Project official website:https://lido.fi/
Official Twitter:https://twitter.com/LidoFinance
Quantity unlocked this time: 8.5 million
Amount unlocked this time: (approximately) 14.03 million US dollars
Lido is a liquidity pool staking solution. Lido allows users to bet on the PoS public chain with compound returns while participating in on-chain activities (such as lending, trading) without minimum deposits or infrastructure maintenance. It currently supports ETH 2.0, Terra, and Solana, and may be expanded to other PoS public chains in the future.
As a long-established and well-known project, Lido’s governance token LDO has seen its price soar during the staking boom.
Related Reading:The Lido Story: Value, Growth and Moats
Next week, LDO tokens will see a long-awaited large-scale unlock.
For more than half a year from December 2022 to the present, LDO has been unlocking small amounts on a regular basis. There has never been a single large amount unlocked.
The number of LDO unlocks this time far exceeds the cumulative number of unlocks since May this year. However, from a ratio perspective, although the number of unlocks this time is quite high, the ratio of unlocked volume to circulating volume is approximately 0.97%. Still less than 1%, not a very impressive figure. Still a relatively small number among the items that will be unlocked next week.
However, as a well-known project, LDO’s unlocking event still deserves some attention from investors.
