Detailed explanation of unlocked tokens this week: DYDX, TORN and other 7 projects welcome to unlock

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Tornado Cash

Project Twitter:https://twitter.com/TornadoCash

This week, multiple tokens ushered in a large amount of unlocking, including TORN, DYDX, EUL, HFT, HOP, 1INCH, etc. Among them, the unlocked amount of HOP accounts for the largest proportion of the circulating disk, and TORN is also worthy of attention.

Project Twitter:

Amount unlocked this time: (approximately) $630,000

Once the most popular private transfer protocol, Tornado Cash disappeared. While it is still possible to access its decentralized version of the website via IPFS, the use and popularity of this service has declined significantly.

Once the most popular private transfer protocol, Tornado Cash disappeared. While it is still possible to access its decentralized version of the website via IPFS, the use and popularity of this service has declined significantly.

Unlock overview:

TORN is the governance token of the Tornado Cash protocol, which can be used to vote and decide the development direction and improvement of the protocol. Users who hold TORN tokens can also receive a part of the agreement's fee income as a reward. Unfortunately, Tornado Cash DAO announced its closure a few days after the sanctions. At the same time the team removed the DAO's multi-signature.

The unlocking of TORN is relatively uniform, and there will be one unlocking every month, and the number of each unlocking is roughly the same.

The unlocking of TORN is relatively uniform, and there will be one unlocking every month, and the number of each unlocking is roughly the same.

dYdX

Project official website:https://dydx.exchange/

secondary title

Number of unlocks this time: 6, 520, 128

Project Introduction:

dYdX exchange is a decentralized perpetual contract exchange that operates on the L2 blockchain system and provides L1 spot/leverage/loan 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.

Unlock overview:

Unlock overview:

Euler

Project official website:https://www.euler.finance/

The circulating market value of dYdX exceeds 320 million US dollars, which is a well-known project with a large market value among the unlocked projects this week. About 6.5 million pieces were unlocked this time, accounting for 0.65% of the total, which is not a high percentage. But the lockup of dYdX tokens is huge, with 77% of all dYdX tokens still locked up. In terms of circulation, the unlocked tokens this time are 67 million US dollars, accounting for 4% of the total circulation. This figure is considerable and deserves attention. At present, the token is still in the usual normalized unlocking process, which is unlocked once a month.

Project official website:

Number of unlocks this time: 143, 356

Unlocking overview: The market value of EUL in circulation exceeds 34 million US dollars, and this unlocking is only 270,000 US dollars. This unlocking figure has little impact on the circulation plate.

Hashflow

Project official website:https://www.hashflow.com/

secondary title

Project Introduction:

Project Introduction:

Hashflow is a decentralized exchange designed for zero-slippage and MEV-protected transactions. Hashflow is currently available on multiple chains such as Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism; by introducing professional market makers to manage liquidity, it provides better transaction prices and smaller slippage.

Unlock overview:

Hashflow is a decentralized exchange designed for zero-slippage and MEV-protected transactions. Hashflow is currently available on multiple chains such as Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism; by introducing professional market makers to manage liquidity, it provides better transaction prices and smaller slippage.

And judging from the release model, this kind of unlocking occurs once a month, and the market has long been familiar with this unlocking rhythm.

Hop Protocol

Project official website:https://hop.exchange/

secondary title

Number of unlocks this time: 20,000,000

Project Introduction:

Amount unlocked this time: (approximately) 1.42 million US dollars

Hop allows encrypted assets to be transferred between side chains, L2 and L1 through a flexible hToken algorithm. Bonder on the Hop Protocol network acts as a liquidity provider, making assets available on the sending and receiving chains, and fulfilling cross-chain bridge requests.

Unlock overview:

Hop Protocol's cross-chain bridge currently supports the Ethereum blockchain, Optimism, Arbitrum, Polygon, and Gnosis. Assets that can be bridged using this protocol include Ethereum, Polygon (Matic), USDT, DAI, USDC, and HOP.

From the perspective of circulation, the amount of HOP unlocked this time is huge. According to Coingecko data, the current circulation of HOP is only 75,222,483, while the number of unlocked this time is as high as 20,000,000, which is 26% of the current circulation, accounting for a huge proportion. If these tokens The flow into the market will have a considerable impact on the market.

1inch

Project official website:https://1inch.io/

secondary title

Project official website:

Number of unlocks this time: 21, 429

1inch is a decentralized trading aggregator that aims to provide users with a fast, low-cost and efficient trading experience. 1inch automatically selects the best trading path and price according to the needs of users by aggregating the liquidity of multiple Swaps. Users can seamlessly trade between different DEXs and get the best price and liquidity.

Token Economics:

The 1INCH token is the native token of the 1inch protocol, which can be used to pay transaction fees and obtain lower handling fees. 1INCH token holders can participate in the governance of the 1inch ecosystem and can also be used to obtain additional rewards.

Token Economics:

According to 1INCH token economics, the tokens unlocked this time come from the team, early investors, and VC.