This week’s token unlocking preview: IMX million-dollar large-amount unlocking, 6 project unlockings worthy of attention

Organization | Odaily Planet Daily

Edit | Loopy

The token unlocks of 6 projects this week are worthy of attention, and some of the large-scale unlocks are worthy of attention, such as LOOKS, HFT, and IMX.

There are many token unlocking projects this week, involving new and old projects in different tracks such as Layer 1, Layer 2, NFT, and DeFi. It is recommended that investors should hold their own positions to capture market returns in a timely manner or prevent and control risks.

Specific unlocking details are as follows:

Large amount unlock

LooksRare

Project official website:

Official Twitter:

Quantity unlocked this time: 12.5 million

Amount unlocked this time: (approximately) US$673,000

LooksRare is an NFT trading platform. At the beginning of the release, it relied on airdrops to attract the attention of a large number of investors. Among the tokens unlocked this week, LOOKS is the token with the largest unlocked share, accounting for 2.29% of the current circulation.

At present, the circulation of LOOKS has reached 91%, and the unlocking is nearing completion. Only 9% of the tokens have not yet been unlocked. At the end of this year, all LOOKS tokens will be released.

The unlocking curve of LOOKS is more interesting. A large amount will be unlocked every quarter, while small amounts will be unlocked linearly during the rest of the time.

After this unlocking, there is only the last large amount unlocking left. About 2% of the token share, compared to the last token unlock, is not enough to call it a huge amount, but it is still worthy of investors’ attention.

Hashflow

Project official website:

Official Twitter:

Number of coins unlocked this time: 3.23 million

Amount unlocked this time: (approximately) US$1.07 million

Hashflow is a decentralized exchange designed to enable zero-slippage and MEV-protected trading. Hashflow is currently available on multiple chains such as Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum and Optimism; by introducing professional market makers to manage liquidity, it provides better transaction prices and smaller slippage.

75% of HFT’s tokens are still locked, and its unlocking is currently proceeding in an orderly manner, with an unlocking of similar size occurring every month.

The 3.23 million tokens unlocked this time account for approximately 0.3% of the total amount, but if viewed in terms of circulation, it is 1.84% of the circulating amount.

And judging from the release model, although this unlocking scale is relatively large, it still gives the market sufficient historical data for reference. The release curve shows that it will not be until November this year that HFT will usher in a large amount of unlocking that is far beyond the norm.

ImmutableX

Project official website:

Official Twitter:

Number of unlocked coins this time: 18.08 million

Amount unlocked this time: (approximately) 9.88 million US dollars

Immutable X claims to be Ethereum’s first ZK-rollup layer 2 protocol for trading and transferring NFTs, with instant transaction confirmations, zero gas fees, and huge scalability as it can accommodate 9,000 transactions per second. Immutable X does all this without compromising user ownership. The protocol was built by the Starkware team using StarEx technology.

The unlocking of IMX this time is quite considerable. Judging from the amount alone, it has reached a certain scale. The unlocked amount is worth nearly 10 million US dollars, accounting for nearly 2% of the circulating market value. But this unlocking situation also happens often.

Judging from the release model, this unlock is not too special. Unlocks of similar size or magnitude are happening every month. And there will be no larger-scale unlocks in the future that are different in magnitude from such regular unlocks. Investors have ample historical data for reference.

Regular Unlock

In addition to the above-mentioned projects, the old DeFi lending/stable currency project Liquity, the Web3 identity project Galxe, and the Polkadot ecology Layer 1 Moonbeam all have small unlocks of less than 1% of the circulation.