This week's token unlocking explained: OP, YGG, and 6 other projects are unlocking.

This week, there are 6 projects that will unlock.

Among them, YGG, OP, ACA, GAL will face large unlockings, while 1INCH and AGIX will face regular unlockings.

Take 1INCH as an example, with a market value of $300 million, the unlocking amount this time is only about $20,000, which can be ignored in terms of its market value. The unlocking scale of AGIX is also not large: SingularityNET has a circulating market value of about $280 million, and the token value unlocked this time is about $2.37 million.

Yield Guild Games

Official website: https://yieldguild.io/

Official Twitter: https://twitter.com/YieldGuild

Unlocking amount this time: 16,872,453

Unlocking amount this time: (approx.) $2.66 million

YGG is a game guild DAO project that was once popular. The guild buys items in GameFi and rents them to players, extracting players' income from gold farming.

The token distribution of YGG is as follows:

The unlocking information shows that more than half (9.76 million) of the unlocked tokens belong to investors, and the rest belong to the community, treasury, and advisors.

Recently, YGG has been unlocking frequently. There are still 72% of the tokens locked and not flowing into the market. From the release model, this unlocking is not considered special. Similar scale or level of unlockings occur every month. And there will not be larger unlockings of different scales than these regular unlockings in the future. Investors have sufficient historical data for reference.

This week, approximately 16.87 million YGG tokens will be unlocked, equivalent to $2.66 million. Currently, the circulating supply of YGG is only 185 million tokens, and the unlocking amount this time accounts for 9.1% of the circulating supply and 1.7% of the total supply.

Galxe

Project website: https://galxe.com/

Official Twitter: https://twitter.com/Galxe

Unlocking amount this time: 586,666

Unlocking amount this time: (approximately) $760,000

Galxe is a platform that helps Web3 projects build communities. Galxe rewards users through incentive programs, allowing them to earn rewards from project teams by completing specified tasks. Additionally, Galxe provides digital credential features for users and project teams. The project aims to build an open and collaborative credential data network to assist Web3 developers in building better products and more attractive communities. Galxe also offers solutions such as 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 the Galxe Oracle Engine and Galxe Credential API query fees.

Token distribution: According to GAL token economics, the unlocked tokens this time come from the team's allocation.

Currently, 57% of GAL total supply is still locked, with a circulating market value of approximately $60.51 million, but FDV has reached $260 million.

The unlocking curve of GAL is presented in a stepped manner. This unlocking is only a small unlocking of approximately 400,000 tokens, but in August, GAL will face a large unlocking of approximately 8 million tokens.

Optimism

Official website: https://www.optimism.io/

Official Twitter: https://twitter.com/optimismFND

Unlocking quantity this time: 24,159,191

Unlocking amount this time: (approximately) $32.37 million

Optimism is one of the Ethereum Layer 2 solutions that has been launched, and it is also the first L2 on the Optimistic Rollup route compatible with EVM. Optimism runs parallel to Ethereum and is capable of processing transactions on a large scale while inheriting Ethereum security.

Among the over 24 million tokens released this time, more than 12.75 million tokens belong to core contributors. The remaining 11.4 million tokens belong to investors.

The unlocking curve of OP is quite special. In late May, OP just completed the largest token unlocking in its token release history.

From the perspective of the unlock quantity, this unlock accounts for 3.7% of the circulation and 0.56% of the total. Although the quantity is already considerable, it still differs significantly from the previous large unlock.

Acala

Project website: https://acala.network/

Official Twitter: https://twitter.com/AcalaNetwork

Acala is a well-established project in the Polkadot ecosystem, aiming to create a decentralized finance network and liquidity hub for Polkadot. The project is a scalable, Ethereum-compatible smart contract platform optimized for DeFi, with built-in liquidity and ready-to-use financial applications. With its trustless exchange, decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala gives developers access to core Ethereum features and the full functionality of Substrate.

The unlock amount of ACA this time is relatively large, accounting for about 3.9% of the circulating market value. Currently, over 61% of ACA is still locked and awaiting unlock. In terms of the total supply, this unlock accounts for 2.7%.

However, in terms of unlock history, this unlock is no different from previous unlocks. Unlocks of similar scale occur monthly. Investors have ample historical data for reference.