Top 7 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.

We're talking about 7 important unlocks that you should keep an eye on this week.

1. Optimism (OP)

• Unlock date: April 29
• Number of tokens unlocked: 24,160,000 OP
• Current circulating supply: 1,045,379,867 OP

Optimism is a second layer solution designed to increase the speed and scalability of the Ethereum network. According to DefiLlama, it is one of the leaders among L2 networks in terms of the number of running protocols and the volume of blocked funds (TVL). The OP token is used for voting, managing projects within the Optimism Collective community, and developing the ecosystem. The coins released during the unlocking will be distributed among investors and key participants in the project.

2. Echelon Prime (PRIME)

• Unlock date: April 30
• Number of tokens unlocked: 1,660,000 PRIME
• Current circulating supply: 37,523,322 PRIME

Echelon Prime is an open, decentralized, community-driven ecosystem for P2E gaming. The native PRIME token is used to reward developers and users, as well as vote for project development and staking. The coins unlocked this week are for Parallel Studios reserves and investors.

3. Sui (SUI)

• Unlock date: March 31
• Number of tokens unlocked: 4,000,000 SUI
• Current circulating supply: 1,295,901,469 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 the company 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 occur on March 31st. “Unfrozen” tokens will go to the community reserve.

4. Manta Network (MANTA)

• Unlock date: April 30
• Number of tokens unlocked: 1,870,000 MANTA
• Current circulating offer: 250 036 078 MANTA

Manta Network is a modular blockchain for zero-knowledge (ZK) applications. It includes two networks:

• Manta Pacific is a modular L2 ecosystem for EVM-native ZK applications and dApps that want to provide the lowest cost and best experience for users
• Manta Atlantic is the fastest L1 blockchain on Polkadot that provides programmable ZK privacy IDs and on-chain credentials via zkSBTs

The MANTA tokens unlocked at the end of this week are intended for project advisors.

5. dYdX (DYDX)

• Unlock date: May 1
• Number of tokens unlocked: 33,330,000 DYDX
• Current circulating offer: 311 081 918 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, 27.7% of the total DYDX supply will go to early investors, 26.1% will go to the treasury, 15.3% will be distributed among the team, 7.0% is reserved for future dYdX employees and consultants. The remaining tokens are intended for liquidity pools and user rewards.

Currently, about half 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.

6. Acala (ACA)

• Unlock date: May 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 May 1 will be divided between strategic partners and the project team.

7.Galxe (GAL)

• Unlock date: May 5
• Number of tokens unlocked: 5,180,000 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 on important decisions within the Project Galaxy DAO. Coins unfrozen during the unlocking will be at the disposal of the project team, the Galxe Foundation and the community.