Preview of token unlocking next week: OP and DYDX will be unlocked in tens of millions of dollars, and the unlocking of 8 projects is worthy of attention

Loopy Lu

读者

2023-08-27 15:21 (UTC+8)

This article is about 1603 words, reading the full article takes about 3 minutes

The unlocked amount of multi-items exceeds 3% of the circulating disk, and the unlocked amount of YGG exceeds 6%.

AI Summary

The unlocked amount of multi-items exceeds 3% of the circulating disk, and the unlocked amount of YGG exceeds 6%.

Organize | Odaily

Editor | Loopy

The token unlocking of 8 projects next week is worthy of attention, among which there are many large unlocks. Including OP, DYDX and other well-known projects.

YGG, which has recently received renewed attention due to the popularity of the game sector, will also usher in a large-scale unlock today.

There are quite a lot of token unlocking projects this week, involving Layer 2, games, AI and other hot sectors, as well as old tracks such as DeFi and DID. It is recommended that investors correspond to their own positions, timely capture market returns or prevent and control risks.

The specific unlock details are as follows:

Unlock large amounts: YGG, DYDX, OP, NYM

Yield Guild Games

Project official website:https://yieldguild.io/

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

The number of unlocked this time: 12.22 million pieces

Amount unlocked this time: (approximately) 2.7 million

YGG is a previously popular game guild DAO project. The guild buys the props in GameFi and leases them to players to collect the player’s gold income.

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

Today (this Sunday) evening, YGG will usher in unlocking.

In the recent period, YGG has been unlocking frequently. YGG also has a large number of tokens that have never flowed to the market, with 72% of the tokens still locked. From the perspective of the release model, this unlock is not special. Unlocks of similar size or magnitude are happening every month. And in the future, there will be no larger-scale unlocking that is different in magnitude from this type of regular unlocking. Investors have sufficient historical data for reference.

This week, about 12.22 million YGG tokens, or about $2.7 million, will be unlocked. At present, the number of YGG in circulation is only 185 million, and the unlocked amount this time is about 6.6% of the circulating supply.

dYdX

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

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

The number of unlocked this time: 6.52 million pieces

Amount unlocked this time: (approximately) 13.63 million US dollars

dYdX exchange is a decentralized perpetual contract exchange that runs on the L2 blockchain system and provides spot/leverage/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 360 million US dollars.

The dYdX token lock-up is massive, with 75% of all dYdX tokens currently still locked. Calculated in terms of circulation, this unlocking accounted for 3.81% of the total circulation, worth over $13 million. This figure is considerable and worthy of attention.

However, judging from the unlocking history, the token is still in the usual normalized unlocking process and is unlocked once a month.

Optimism

Project official website:https://www.optimism.io/

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

The number of unlocked this time: 24.16 million pieces

Amount unlocked this time: (approximately) 35.76 million US dollars

Optimism is one of the Ethereum Layer 2 solutions now online and the first L2 of the Optimistic Rollup route that is compatible with EVM. Optimism runs parallel to Ethereum and is able to process transactions at scale while inheriting the security of Ethereum.

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

OP completed the largest token unlocking in the history of its token release at the end of May, and the current unlocking is a regular unlocking once a month.

From the perspective of the number of unlocks, this unlocking accounted for 3.3% of the circulating supply, but the previous unlocking provided investors with historical data for reference.

NYM

Project official website:https://nymtech.net/

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

The number of unlocked this time: 25 million pieces

Amount unlocked this time: (approximately) 3.47 million US dollars

NYM is a privacy infrastructure project. NYMs technology is borrowed from traditional VPN or the onion network TOR but is different. Different from common privacy projects that focus on the underlying blockchain and upper-layer applications, Nym focuses on privacy protection at the lower network transmission level. The protocol is designed to prevent this kind of data leakage by protecting the metadata of each packet at the network and application layers.

Developers can directly bind their applications to the Nym system through Mixnet, thereby achieving privacy protection at the network transmission level. For the encryption ecology, any public chain and Dapps can realize the function combination with Nym by integrating Mixnet, and use Nym to provide its users with a new level of privacy protection services.

NYM tokens are used in its hybrid network privacy system. Only those who hold NYM to access the hybrid network can run hybrid nodes, ensuring the high quality of operators. Hybrid node operators are rewarded with NYM tokens. Token economics shows that the total supply of NYM is 1 billion. The token distribution begins on April 14, 2022.

Currently, more than half (51%) of NYM tokens are still locked.

It should be noted that the unlocked25 million tokens all belong to the team, accounting for 4.73% of NYMs circulating supply.

From the perspective of unlocking history, the scale of this unlocking is relatively large. And the attributing party has the risk of selling.

Regular unlocking: GAL, AGIX, 1INCH, EUL

Galxe

Project official website:https://galxe.com/

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

The number of unlocked this time: 586,000 pieces

Amount unlocked this time: (approximately) $647,000

Galxe is a platform that helps Web3 projects build 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.

The GAL unlocking curve was stepped. This unlocking is only a small amount of less than 600,000 pieces.