Weekly Token Unlock Preview: 4 Projects to Unlock, Large-scale Unlock of ID
Edited by: Loopy Lu
Different from the large number of project unlocks in previous weeks, only 4 projects' token unlocks next week are worth paying attention to.
Among the 4 token unlocks next week, ID has the largest unlock scale. The ID tokens worth over $5 million, accounting for over 4% of the current ID circulation.
Specific unlock details are as follows:
SPACEID
Project Website: https://space.id/
Project Twitter: https://twitter.com/SpaceIDProtocol
Amount of this unlock: 18.49 million tokens
Amount of this unlock: (approx.) $5.17 million
Space ID is a decentralized domain name project that provides ".bnb", ".eth", and ".arb" domain name services to users, intending to build this project as users' decentralized multi-chain identity. In addition, the project also provides a domain name trading market. ID is the governance token for SPACE ID, with a total supply of 2 billion tokens. ID has three main functions. Currently, as much as 78% of ID tokens are still locked.
This unlock involves over 18 million ID tokens, accounting for only 0.8% of the total supply. However, considering that the vast majority of these tokens are not yet in circulation, the unlock amount is still considerable. Based on the current circulation, it accounts for approximately 4.29% of the circulation. The market value of the unlocked tokens is approximately $5.17 million.
In terms of circulation, this unlock scale may have a certain impact on ID token trading. However, similar unlock scales have occurred multiple times before, with a similar scale unlock happening every month since the token was issued.
Euler
Project Website: https://www.euler.finance/
Official Twitter: https://twitter.com/eulerfinance
Amount of this unlock: 123,000 tokens
Amount of this unlock: (approx.) $418,000
Euler is a customized permissionless lending protocol that helps users lend and borrow more types of Ethereum-based tokens than ever before. As a customized permissionless lending protocol, the protocol has a range of new features to help users lend and borrow more types of tokens than ever before. In terms of lending, there is still a significant unmet demand for lending encrypted assets.
This unlock scale accounts for less than 1% of the circulation, and based on unlock history and trading volume, this unlock can be considered a small-scale unlock.
NYM
Project Website: https://nymtech.net/
Official Twitter: https://twitter.com/nymproject
Amount of this unlock: 12.5 million tokens
Amount of this unlock: (approx.) $2.55 million
NYM is a privacy infrastructure project. Nym focuses on more fundamental privacy protection at the network transport layer. The protocol aims to prevent data leakage by protecting the metadata of each data packet at the network and application layers.
NYM tokens are used for its mixnet privacy system, where only those holding NYM can access mixnet nodes, ensuring high-quality operation for operators. Mixnet node operators can receive NYM token rewards. Token economics show a total supply of 1 billion NYM tokens. The tokens began distribution on April 14, 2022.
Based on unlock history, this unlock scale accounts for less than 1% of the circulation and is not significant. There have been several cases of much larger unlocks than this one in the past.
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