This week, a total of 6 tokens are unlocked, among which only ENA, MOVE, and MOCA have relatively high unlocking ratios.

Ethena

Project Twitter: https://x.com/ethena_labs

Project Official Website: https://www.ethena.fi/

Number of Tokens Unlocked: 172 million

Amount Unlocked: Approximately $50.37 million

The algorithmic stablecoin USDe launched by Ethena Labs currently relies on collateral such as BTC, stETH, and its inherent yield, while creating short positions in Bitcoin and ETH to balance Delta and utilize perpetual/futures funding rates to maintain its peg and provide yield. This means using the yield from spot to hedge the losses from a short position, achieving balance while also earning ETH staking rewards and short funding rates.

This round of ENA unlocks has two categories of recipients: core contributors receiving 93.75 million tokens, worth approximately $27.27 million; and investors receiving 78.13 million tokens, worth $22.72 million.

The specific release curve is as follows:

Movement

Project Twitter: https://x.com/movementlabsxyz

Project Official Website: https://movementlabs.xyz/

Number of Tokens Unlocked: 50.06 million

Amount Unlocked: Approximately $8.46 million

Movement is a modular framework for building and deploying Move-based infrastructure, applications, and blockchains in any distributed environment. The first version, M1, redefines L1 as a vertically composable and horizontally scalable first-layer framework that is compatible with Solidity, connects EVM and Move liquidity, and allows builders to customize modular and interoperable application chains with different user bases and liquidity out of the box.

This round of MOVE unlocks has only one category of recipients, "Ecosystem and Community," with a current circulation ratio of 25%, hence the unlocking ratio is relatively high.

The specific release curve is as follows:

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