As usual, the VR Soldier team carefully works out tokenomics so as not to cause a lot of selling pressure at various stages of the unlocks and thereby not bring down the price of the currency. However, some factors – for example, a lack of liquidity or profit-taking by early investors immediately after the token is unlocked – can seriously affect the asset’s quotes.
We have selected 5 important unlocks to watch next week:
1. dYdX (DYDX)
Date: February 20
Number of tokens unlocked: 575,340 DYDX
Current circulating supply: 300,426,828 DYDX
In early 2023, the largest decentralized derivatives trading protocol, dYdX, announced changes to the project’s original tokenomics. 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 reserve, 28% will be used to reward traders and liquidity providers, and the remainder will go to future employees. Currently, about a third of the total supply of DYDX is in circulation. The remaining coins will be unlocked in small increments over the next two years.
2. Avalanche (AVAX)
Date: February 22
Number of tokens unlocked: 9.54 million AVAX
Current circulating offer: 367 521 374 AVAX
Avalanche is an open-source platform for running decentralized applications, as well as deploying public and private blockchains in a single scalable ecosystem. AVAX 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 February, 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.
3. Space ID (ID)
Date: February 22
Number of unlocked tokens: 18,490,000 ID
Current circulating offer: 430 506 132 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 February 22, the project will unlock more than 18 million ID tokens, which will be distributed between the Space ID Foundation and airdrop participants.
4. Coin 98 (C98)
Date: February 23
Number of tokens unlocked: 18,880,000 C98
Current circulating supply: 693,740,000 C98
Coin98 is a multifunctional DeFi platform designed to connect traditional finance with decentralized services on multiple blockchains. For these purposes, Coin98 uses a whole arsenal of tools – Coin98 Wallet, Coin98 Exchange and the Space Gate cross-chain bridge.
The C98 platform utility currency that is used to pay fees, govern and provide unique rights to holders. The coins unlocked on February 23 will be distributed among the community, the Coin98 team and advisors, as well as the project treasury.
5. ImmutableX (IMX)
Date: February 23
Number of tokens unlocked: 34,190,000 IMX
Current circulating supply: 1,370,000,000 IMX
Immutable X is a layer two ( L2 ) solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million in just an hour as part of the IMX token sale on the CoinList platform, then closed an investment round of $60 million, and in March 2022 received another $200 million from ParaFi Capital, Declaration Partners, Tencent Holdings and others companies. More than half of IMX’s supply is still locked up. The tokens unfrozen on February 23 will be received by developers and participants in the private round of financing.
