One-week token unlocking preview: AXS will unlock over 65 million US dollars, and APE will unlock over 10%
Organize - Odaily
Editor - Loopy Lu
This is different from the past where a large number of items were unlocked every week. There are only 4 projects worth watching for token unlocks next week.
But among the 4 tokens to be unlocked next week, all 3 tokens will be unlocked on a large scale. The unlocking scale of AXS is particularly impressive, with the amount unlocked reaching tens of millions of dollars, and the amount unlocked exceeds the circulation by 10%. APE will also unlock over ten million dollars in tokens.
The specific unlocking details are as follows:
Axie Infinity
Project official website:https://axieinfinity.com/
Project Twitter:https://twitter.com/AxieInfinity
Number of coins unlocked this time: 15.13 million
Amount unlocked this time: (approximately) 65.19 million US dollars
Axie Infinity was once the GameFi product that attracted the most industry attention. After a long market cycle, the AXS token has fallen significantly from its all-time highs. But AXS is still a huge project, with a circulating market value of up to $700 million.
Currently, most AXS tokens have been released, but 24% of tokens are still locked. The approximately 15 million tokens unlocked this time are worth over US$65 million, accounting for approximately 11.5% of the circulating market value.
AXS is also the largest token unlock to be launched next week. Both the unlock amount and the circulation share are much higher than other unlock projects.
Tokenomics shows that more than 6 million tokens (approximately $26 million) in this unlock will belong to the team. Over $7 million in tokens will also be vested in the Ecosystem Fund.
After this unlocking, the AXS token staking income may increase, and part of the unlocked tokens will flow to staking rewards. Staking rewards will vest in 3.43 million tokens (approximately $14.7 million).
However, the ownership of tokens that are strongly related to the project party such as teams and ecological funds is even greater. The scale of this unlock is too large, and investors should pay attention to the risk of market fluctuations.
SPACE ID
Project official website:https://space.id/
Project Twitter:https://twitter.com/SpaceIDProtocol
Number of unlocked coins this time: 18.49 million
Amount unlocked this time: (approximately) US$3.44 million
Space ID is a newer project. Although the project came out as early as April 2022, it was not until this year that the project completed its token issuance. In March 2023, Binance officially announced that ID Token would be its 30th Launchpad project.
Space ID is a decentralized domain name project that 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. The governance token whose ID is SPACE ID has a total supply of 2 billion. ID has three main functions. Currently, a whopping 80% of ID tokens are still locked.
There are over 18 million ID tokens unlocked this time, which is only 0.8% of the total supply. However, given that the vast majority of this token is not in circulation, its unlocked volume is still considerable. Calculated based on the current circulation, it accounts for approximately 6.46% of the circulation. The unlocked token market cap is approximately $3.44 million.
From the perspective of circulation, this unlocking scale may have a certain impact on ID token transactions. However, this type of unlocking scale has occurred many times before. Since the issuance of the token, there has been an unlocking of similar scale once every month.
ApeCoin
Project official website:https://apecoin.com/
Quantity unlocked this time: 15.6 million
Amount unlocked this time: (approximately) US$16.72 million
ApeCoin (APE) is the governance and utility token of the APE ecosystem, with a total supply of 1 billion coins. The project is controlled and established by the community, and the 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 this token was initially issued, a large number of APE tokens were airdropped to BAYC holders.
APE is famous for its issuer Yuga Labs. As the parent company of BAYC, Yuga Labs has become famous in the NFT ecosystem. Yuga has stated that it will actively adopt APE as the main token for all new products and services. In addition to BAYC, Yuga also owns two major IPs, CryptoPunks and Meebits.
As early as when it was released, APE received a lot of attention due to its extremely topical nature. And its large number of large positions and reserved tokens also caused it to be criticized for a while. APE Tokenomics shows that 47% of its tokens are held in vaults. Even today, about two years after the token was issued, 46% of APE tokens are still locked.
The amount unlocked this time accounts for 4.23% of the circulating supply, which is a considerable amount. However, unlockings of similar scale have occurred many times before, and there is enough historical data for reference.
Flow
Project official website:https://apecoin.com/
Official Twitter:https://twitter.com/apecoin
Number of unlocked coins this time: 7.29 million
Amount unlocked this time: (approximately) US$3.18 million
Flow is a high-performance chain built for games and NFTs. The product is designed to empower a new generation of games, applications and digital assets. Flow was born to a certain extent to solve the problem of NFT circulation on the ETH chain. It can be massively expanded without using sharding to keep transactions fast and low-cost.
Flows release model shows that FLOW is unlocked linearly, and normalization maintains small but high-frequency unlocking of FLOW tokens. This time Flow only unlocked about 3 million US dollars. For FLOW, which has a circulating market value of hundreds of millions, such a large-scale unlocking is not enough to have an impact on its huge circulation.
