Next week, 13 projects will have token unlocking events. DYDX, YGG, and PRIME will have large unlocks, with DYDX unlocking accounting for 11.1% of the current circulating market value.
The specific unlocking details are as follows:
dYdX
Project Twitter: https://twitter.com/dydxfoundation
Project website: https://dydx.trade/
Amount unlocked this time: 33.5 million tokens
Amount unlocked this time: Approximately $129 million
dYdX is a decentralized derivatives exchange for perpetual contracts and margin trading, providing order book-style blockchain digital asset trading services and offering leverage and contract trading functions. dYdX adopts an off-chain matching + on-chain settlement order model. The operation experience is closer to traditional CEX, allowing for limit orders, stop losses, and other operations.
The main recipients of this round of DYDX unlocking include investors and the team. The share for investors is 18.49 million tokens, valued at $54.35 million. The remaining share of approximately $43.7 million is for the team, distributing $30 million worth of DYDX to founders, employees, and advisors, and retaining $13.7 million worth of tokens for future employee hiring.
It is worth noting that dYdX has recently surged due to the hot topic of Uniswap distributing fees to UNI, and there is a possibility of profit-taking.
The specific release curve is as follows:
YGG
Project Twitter: https://twitter.com/YieldGuild
Project website: https://yieldguild.io/
Amount unlocked this time: 16.67 million tokens
Amount unlocked this time: Approximately $8.87 million
Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) for investing in NFT-based virtual world and blockchain games.
The allocations for this round of YGG release are relatively balanced, with the highest being 7.01 million tokens for the community and the lowest being 2.31 million tokens for the treasury. Currently, 57% of YGG's total supply has been unlocked, and it has entered a relatively balanced release stage. Although the release proportion is 5.6%, the project's market value is relatively small, so the impact is expected to be minimal.
The specific release curve is as follows:
Prime
Project Twitter: https://twitter.com/EchelonFND
Project website: https://echelon.io/
Amount unlocked this time: 1.67 million tokens
Amount unlocked this time: Approximately $15.67 million
Echelon Prime is a chain game platform that has announced the launch of two games, the card game Parallel TCG and the simulation game Parallel Colony. PRIME is the utility token for Echelon and its game ecosystem, used to purchase various products, services, and game experiences.
This round of token unlocking is mainly targeted at two types of recipients, namely the reserve funds of Parallel Studio and investors. The former will distribute tokens worth $11.28 million, and the latter will distribute tokens worth $9.28 million. In addition, according to the token.unlocks chart, there are foundation shares worth $152 million waiting to be unlocked, and specific rules have not yet been announced.
The specific release curve is as follows:
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