Top 3 token unlocks this week

Unlock (English unlock) is called the unlocking of tokens that were previously frozen under the terms of investment rounds or other funding programs.

Typically, the team carefully works out the tokenomics so as not to cause a lot of selling pressure at various stages of the unlock and thereby not bring down the price of the token. However, some factors – for example, a lack of liquidity or profit-taking by early investors immediately after the tokens are unlocked – can seriously affect the asset’s quotes.

Here’s a look at three major unlocks to watch this week.

1. dYdX (DYDX)

• Unlock date: November 21
• Number of tokens unlocked: 6,440,000 DYDX
• Current circulating supply: 183,770,000 DYDX

In early 2023, the largest decentralized derivatives trading protocol dYdX announced on making changes to the initial tokenomics of the project. According to the update, 30% of DYDX’s total supply will go to early investors, another 30% will be distributed between the team and community reserves, 28% will be used to reward traders and liquidity providers, and the remainder will go to future employees, miners, and stabilization funds. Currently, about 18.5% of the total supply of 1 billion DYDX is in circulation. The remaining tokens will be unlocked in small increments over the next three years.

2. Space ID (ID)

• Unlock date: November 22
• Number of unlocked tokens: 18,490,000 ID
• Current circulating supply: 286,000,000 ID

Space ID is a universal decentralized identification protocol that connects people, assets and dApps across different blockchains. The platform allows you to use one domain name to represent your identity across all separate applications and networks. On November 22, the project will unlock more than 18 million ID tokens, which will be distributed between the Space ID Foundation and airdrop participants.

3. Avalanche (AVAX)

• Unlock date: November 24
• Number of tokens unlocked: 9,540,000 AVAX
• Current circulating supply: 355,600,785 AVAX

Avalanche is an open-source platform for running decentralized applications, as well as deploying public and private blockchains in a single scalable ecosystem. The AVAX token is used to pay fees and settle payments on Avalanche subnets. The asset can also be added to staking with an annual return of 11%. At the end of November, the circulating supply of AVAX will increase by more than 9 million – unlocked tokens will be distributed among strategic partners, the Avalanche Foundation, the project team and airdrop participants.