Detailed explanation of unlocked tokens this week: APE unlocked with more than 50 million US dollars, ROSE, IMX unlocked with tens of millions
5 tokens will be unlocked this week, including SWEAT, APE, 1INCH, ROSE, IMX. Among them, APE, ROSE, and IMX are worthy of attention.
The unlocked volume of SWEAT, APE, and 1INCH is less than 0.1% of the circulating supply, especially for 1INCH, which only unlocks tokens with an equivalent value of less than 10,000 US dollars. But it is worth noting that 1INCH will usher in a large amount of unlocking every six months. At the beginning of June this year, there will be a large unlock of nearly 200 million 1INCH.
APE
Project official website:https://apecoin.com/
Number of unlocks this time: 15, 601, 325
Amount unlocked this time: (approximately) 51.8 million US dollars
ApeCoin (APE) is the governance and utility token of the APE ecosystem with a total supply of 1 billion. The project is controlled and established by the community, and ApeCoin DAO is its governance organization, allowing all APE holders to vote on governance decisions. In addition to DAO, Yuga also established the APE Foundation as the legal supervisor of DAO. The Foundation Board of Directors consists of 5 members.
When the token was initially issued, BAYC holders were airdropped a large number of APE tokens.
APE is famous for its publisher, Yuga Labs. As the parent company of BAYC, Yuga Labs has gained fame in the NFT ecosystem. Yuga has stated that it will actively apply APE as the main token for all new products and services. In addition to BAYC, Yuga also owns two major IPs, CryptoPunks and Meebits.
Unlock overview:
As early as its release, APE received a lot of attention due to its high topicality. And its large number of positions and reserved tokens also caused it to be criticized for a while. APE Token Economics shows that 47% of its tokens are held in vaults. Even today, roughly two years after the token launch, 56% of APE tokens are still locked.
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APE token economy
In this unlocking, the treasury is also the largest destination for unlocking. This time, 15.6 million coins were unlocked, of which 7.34 million coins went to the treasury. In addition, Yuga Labs and BAYC Founders received 7.34 million and 4.17 million tokens respectively. The rest of the tokens go to contributors and charities.
According to Coingecko data, the 24-hour trading volume of APE is about 74 million US dollars. Compared with the unlocked data, the number of unlocks is not enough to have a big impact on the market.
From the point of view of the release model, this unlock is not larger than the previous unlocks, and such unlocks will happen once a month.
In addition to unlocking, its APE pledge situation may be more noteworthy. After June 13, the number of APE pledged allocations will be reduced from 30 million to 20 million. The number of tokens rewarded by APE staking is reduced, which will reduce the staking income of APE standard. The data shows that nearly 60% of Bored Apes have been pledged, which shows that the community participation is very high.
ROSE
Project official website:https://oasisprotocol.org/
The number of unlocks this time:199, 500, 000
Amount unlocked this time:(Approximately) USD 10.83 million
The Oasis network is a Layer 1 network that provides users with private computing and is compatible with EVM. Users have the right to decide the use of their private data, and can obtain benefits through data. The Oasis network separates consensus and computing into a consensus layer and a computing layer, enabling the Oasis network to support computing-intensive use cases, such as machine learning and deep learning, while ensuring the scalability and privacy of the main chain. The future application prospects are broad.
As a proof of the underlying Layer 1 protocol, multiple parallel execution environments (ParaTimes) are allowed to submit transactions to the network at the same time, which improves the scalability of the network and the adaptability of the network to meet a wide range of needs.
Unlock overview:
ROSE token economics shows that the tokens unlocked this time come from core contributors, communities, partners & reserves.
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ROSE token economy
The maximum supply limit of ROSE is 10 billion, and there are still about 26% of the tokens waiting to be unlocked and not yet in circulation.
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IMX
Project official website:https://www.immutable.com/
Number of unlocks this time: 18, 075, 990
Amount unlocked this time: about 13.91 million US dollars
Project introduction: Immutable X is Ethereum's first ZK-rollup layer 2 protocol for trading and transferring NFT, with instant transaction confirmation, zero gas fee and huge scalability, because it can accommodate 9000 transactions per second trade. Immutable X does all of this without compromising user ownership. The protocol was built by the Starkware team using StarEx technology.
Unlocking overview: IMX’s unlocking this time is quite impressive. From the perspective of the amount alone, it is as high as 13.91 million US dollars, accounting for nearly 2% of the circulating market value. But this unlocking situation often happens.
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Related Reading
Project unlocking is usually accompanied by short-term fluctuations in token prices. Investors can pay attention to the market and capture trading opportunities, and pay attention to trading and position risks. For the correlation between tokens and prices, you can read Odaily's previous articles:
"How Token Unlocking Affects Price? Big Data Analysis Based on 5000 Items »
