Top 5 token unlocks of 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 are 5 important unlocks to watch this week.

1. dYdX (DYDX)

• Unlock date: April 1
• Number of tokens unlocked: 33,330,000 DYDX
• Current circulating supply: 293,730,288 DYDX

In early 2023, the largest decentralized derivatives trading protocol dYdX announced on making changes to the original 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 30% 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. Acala (ACA)

• Unlock date: April 1
• Number of tokens unlocked: 27,430,000 ACA
• Current circulating offer: 962,499,997 ACA

Launched in 2019, Acala Network is the first DeFi consortium of its kind, formed by two teams of active participants in the Polkadot ecosystem – Laminar and Polkawallet. The platform enables smart contracts and is compatible with external blockchains (for example, Ethereum). ACA tokens unlocked on April 1 will be divided between strategic partners and the project team.

3. Sui (SUI)

• Unlock date: April 3
• Number of tokens unlocked: 34,620,000 SUI
• Current circulating supply: 1,230,916,717 SUI

Sui is a high-performance layer-one (L1) blockchain. The operation and security of the network is ensured by the Proof-of-Stake consensus algorithm. The project was developed by Mysten Labs – it was founded in 2021 by a group of former Novi Research employees who were responsible for creating the Diem blockchain and the Move programming language.

Since December 2021, Mysten Labs has raised $336 million across two funding rounds. The project's main investors include Binance Labs, Franklin Templeton and a16z Crypto.

The next SUI unlock will happen on April 3rd. “Unfrozen” tokens are reserved for the project community.

4.Galxe (GAL)

• Unlock date: April 5
• Number of tokens unlocked: 3,000,000 GAL
• Current circulating offer: 89,922,000 GAL

Galxe, formerly known as Project Galaxy, is web3's largest credential network that helps brands and developers build trusted, decentralized products. The GAL token can be used to pay for the Galaxy Oracle Engine and Credential API. In addition, its holders have the right to vote when making important decisions within the Project Galaxy DAO. Coins unfrozen during the next unlock will be at the disposal of the project team, the Galxe Foundation and the community.

5. Hashflow (HFT)

• Unlock date: April 7
• Number of tokens unlocked: 13,620,000 HFT
• Current circulating supply: 382,979,392 HFT

Hashflow is a decentralized exchange (DEX) that provides interoperability, zero slippage, and MEV-proof trading. It offers built-in cross-chain swap functionality without the use of bridges or synthetic assets, allowing you to trade freely across one or multiple networks with guaranteed price execution.

The protocol's native token is called HFT. Users can stake it and gain access to various features of the Hashflow ecosystem. On April 7, the project team will unlock more than 13 million HFT, which will be distributed among developers, early investors and community members.