Token Unlocks to Watch Next Week: IMX, ALT and More
Token unlocking releases restricted tokens previously associated with the fundraising protocol. The project arranges these activities strategically to limit market pressure and stabilize prices.
Here are five big tokens scheduled to be unlocked next week.
Athena(ENA)
- Unlock date: January 29
- Number of unlocked tokens: 12.86 million ENA
- Current circulation: 3.03 billion ENA
athenaa synthetic currency protocol on Ethereum that provides independence from traditional banking. It also offers users around the world a U.S. dollar-denominated savings instrument called an “Internet Bond.”
Ethena’s native token, ENA, allows holders to participate in the protocol’s governance decisions. On January 29, Ethena will unlock more than 12 million ENA tokens, worth $11 million, and the funds will be used for ecosystem development.
Optimism (OP)
- Unlock date: January 31
- Number of unlocked tokens: 31.34 million OP
- Current circulation: 1.35 billion OP
Optimism, a Layer 2 expansion solutionspeeding up transactions and reducing costs on Ethereum. Its OP token is critical to governance, allowing holders to vote on proposals and influence the future of the network.
On January 31, Optimism will unlock 31.34 million OP tokens. According to Tokenomist (formerly TokenUnlocks), the tokens will be distributed to core contributors and investors.
Sui (Sui)
- Unlock date: February 1
- Number of unlocked tokens: 64.19 million Sui
- Current circulation: 3 billion SUI
Sui is a high-performance Layer-1 blockchain designed to optimize network operations and Safety through a Proof of Stake Consensus mechanism. The project was launched in 2021 by Mysten Labs, founded by former Novi Research employees who contributed to the development of the Diem blockchain and the Move programming language.
The SUI token supports governance, allowing holders to vote on proposals and shape the future of the platform. On February 1, the major token unlock will release tokens allocated to Series A and Series B participants, the community reserve, and the Mysten Labs vault.
Zeta Chain (ZETA)
- Unlock date: February 1
- Number of unlocked tokens: 44.26 million ZETA
- Current circulation: 634.37 million ZETA
ZetaChain is a decentralized blockchain platform that facilitates seamless interoperability between different blockchain networks. Its key functionality allows for cross-chain communication, enabling the transfer of tokens and data between blockchains such as Ethereum and Binance Smart Chain.
On February 1, ZetaChain will unlock nearly 45 million ZETA tokens. The tokens will fund initiatives such as user growth pools, ecosystem growth funds, core contributor rewards, advisory roles, and liquidity incentives.
dYdX (DYDX)
- Unlock date: February 1
- Number of unlocked tokens: 8.33 million DYDX
- Current circulation: 722 million DYDX
In early 2023, the largest decentralized perpetual coin dYdX futures Transaction Agreement, announces changes to its initial agreement Tokenomics. According to the latest news, 27.7% of the total dYdX supply will be allocated to early investors, 26.1% to the finance department, 15.3% to the team, and 7.0% to future dYdX employees and advisors.
most Didix Tokens unlocked on February 1st will be distributed to founders and investors, with remaining tokens reserved for current and future employees.
Next week’s cliff token unlocks will also include Eigen Layer (EIGEN), Celo (CELO), and Moca Network (MOCA), with a total value of over $450 million.
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