As multiple popular tokens face a new wave of unlocking from late June to early July, market supply pressure is once again on the rise. Data shows that leading projects such as OP, SUI, and DYDX will unlock over $100 million worth of tokens within a week. Although the proportion of these tokens in circulation is limited, they may disturb short-term secondary market sentiment, and caution is needed regarding the price volatility risk brought by phase-based cashing out.
DYDX
DYDX is the native governance token of the decentralized derivatives exchange dYdX Protocol, primarily used for protocol governance, staking rewards, and liquidity incentives. dYdX is currently one of the most active decentralized perpetual contract trading platforms, initially deployed on Ethereum Layer 1, but later migrated its core trading functions to Layer 2 (StarkEx Rollup) provided by StarkWare due to high-performance demands. As one of the leaders in the decentralized exchange (DEX) perpetual contract market, it competes long-term with projects like GMX and Perpetual Protocol, and has a high stickiness among professional traders due to its on-chain order book and high trading depth.
Token Uses
Governance: DYDX holders can vote on key proposals such as protocol upgrades, fee structures, and liquidity mining plans; Staking and Incentives: Used to reward market makers and liquidity providers, incentivizing platform trading activity;
Community Development: A portion of the tokens is used to fund ecosystem developers, venture funds, etc., promoting the continuous growth of the dYdX community.
SUI
SUI is the native token of a high-performance Layer 1 public chain developed by the Mysten Labs team, focusing on extremely high scalability and low latency. The SUI network is based on the Move programming language, supporting second-level confirmations and high TPS through parallel execution and an object-oriented account model, making it suitable for complex scenarios such as DeFi, gaming, and social applications.
Token Uses:
Paying network gas fees (transaction fees)
Participating in staking for network consensus and validation
Governance voting: Future token holders can participate in on-chain governance
Ecosystem incentives: Used to reward developers, nodes, and the community
Recently, the SUI token experienced a significant drop due to multiple negative factors, attracting market attention. In May, the core DeFi project of the Sui ecosystem, Cetus Protocol, was attacked due to a suspected oracle vulnerability, leading to a rapid withdrawal of liquidity pool funds, causing related tokens to plummet over 50% in a short time, impacting user confidence.
Currently, Cetus is working to fix the vulnerability and investigate the incident. Whether SUI can restore trust and stabilize ecosystem development is worth ongoing attention.
Related: Analysts say Ethereum (ETH) holds steady above the key $2400 price, preparing for an upward trend.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
