Next week, a total of 11 tokens will be unlocked. Notably, the STRK unlock amount reaches 127 million tokens, accounting for 3.79% of the current circulating supply, making it the largest in absolute quantity among all tokens unlocking next week.

StarkNet is one of the most prominent ZK-Rollup projects in the Ethereum ecosystem. As its mainnet gradually rolls out, the actual operation of the token economic model will directly impact long-term ecological confidence. Additionally, STRK experienced significant volatility during its initial launch, with many early users and institutions holding large amounts of locked tokens. The current market price remains relatively high, and large unlocks are likely to lead to concentrated selling pressure. Furthermore, StarkWare's previous token distribution plan has raised community concerns, and debates over fairness and unlock pacing have made every large-scale unlock a focal point of attention.

| Token | Unlock Amount | Percentage of Current Circulating Supply | Unlock Date | |-------|---------------|------------------------------------------|-------------| | 1INCH | 21,430 tokens | 0.00154% | June 9 | | MOVE | 50 million tokens | 1.96% | June 9 | | EIGEN | 1.29 million tokens | 0.42% | June 10 | | IOTA | 15.16 million tokens | 0.40% | June 11 | | RENDER | 492,130 tokens | 0.10% | June 11 | | AXS | 652,500 tokens | 0.40% | June 11 | | APT | 11.31 million tokens | 1.79% | June 12 | | IMX | 24.52 million tokens | 1.33% | June 13 | | MOCA | 243,000 tokens | 0.09% | June 13 | | STRK | 127 million tokens | 3.79% | June 15 | | XCN | 296.38 million tokens | 0.88% | June 15 |

Overview of core data for unlocks next week (June 9 to June 15). Source: Tokenomist

XCN (Chain)

Chain was originally established in 2014 as a company focused on providing private chain solutions for financial institutions. It was supported by organizations such as Visa, Nasdaq, and Citi. Later, Chain was acquired by Lightyear (the commercial branch of Stellar) and, after becoming independent again, shifted its focus to developing a public blockchain platform.

Currently, Chain focuses on enterprise-level blockchain cloud services, offering a toolkit called Sequence to help developers and businesses quickly deploy and manage assets in Web3 scenarios.

XCN saw a rapid increase in market capitalization in 2022, entering the top 50 cryptocurrencies, but subsequently experienced a significant price drop due to heavy selling pressure, frequent unlocks, and lack of transparency. The community has questioned the clarity of its token distribution, and the unlock plan has placed immense pressure on the secondary market.

Currently, XCN has a total supply of approximately 5.3 billion tokens, primarily used for DAO governance, discount fees, staking incentives, and paying for cloud service fees.

XCN token unlock curve. Source: Tokenmist

IMX (Immutable X)

IMX is the native token of the Immutable platform, and Immutable X is an Ethereum Layer 2 scaling solution focused on games and NFTs, dedicated to providing a high-speed, gas-free NFT minting and trading experience for Web3 games. As the core token of its ecosystem, IMX is widely used for payments, staking, and governance.

IMX surged into the top 30 by market capitalization during the 2021 bull market, attracting a large number of investors. Currently, as Web3 games gradually mature and traditional game studios enter the space (such as former Blizzard executives joining Immutable), the project is becoming an important player in the "GameFi infrastructure" sector.

However, IMX faces fierce competition, with projects like Arbitrum and Polygon zkEVM also vying for the Web3 gaming ecosystem. Future growth will still depend on the successful launch of blockbuster games and the continuous influx of developers.

IMX token uses:

• Payment of fees: Platform transactions require the use of IMX tokens to pay fees;
• Staking and rewards: Users can stake IMX and receive rewards;

IMX token unlock curve. Source: Tokenmist

Related: Cryptocurrency lobbying groups seek to include software developer protection clauses in crypto legislation

Original article: “Token Unlock Weekly Report | 11 Tokens Including STRK and MOVE Set for Unlock”

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