One week of token unlocking: DYDX unlocked tokens worth US$110 million, accounting for 11.3% of the circulating supply

Next week, 11 projects will usher in token unlocking events. DYDX will unlock tokens worth US$110 million, accounting for 11.3% of the circulating supply. In addition, HFT, SUI, and GAL will unlock tokens exceeding 3% of the circulating supply.

The specific unlocking details are as follows:

dYdX

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Number of unlocked tokens this time: 33.34 million

Amount unlocked this time: approximately US$110 million

dYdX is a decentralized derivatives exchange for perpetual contracts and margin trading. It provides order book-style blockchain digital asset trading services and provides leverage and contract trading functions. dYdX adopts an order model of off-chain matching + on-chain settlement. The operating experience is closer to traditional CEX, and operations such as price limit trading and stop loss can be implemented.

This unlocking is mainly for investors, and will unlock 18.49 million DYDX, worth 63.96 million US dollars. In addition, it will also include 10.18 million DYDX for project parties, worth 35.22 million US dollars. The remaining unlocked tokens will be used for future project employee employment.

The specific release curve is as follows:

Hashflow

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Project official website:

Number of unlocked coins this time: 13.77 million

Amount unlocked this time: approximately US$6.13 million

Hashflow is a decentralized exchange designed to enable zero-slippage and MEV-protected trading. Hashflow is currently available on Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism. HFT is the native token of the Hashflow protocol and Hashverse, Hashflow’s gamified governance platform.

This unlock is a regular linear unlock. HFT currently accounts for 51% of the total unlocked amount, and regular linear unlocking will continue until 26 years. This unlock is mainly for early investors, ecological development funds, and core teams, with values of US$2.37 million, US$2.55 million, and US$1.1 million respectively.

The specific release curve is as follows:

Sui

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Number of unlocked coins this time: 40.29 million

Amount unlocked this time: approximately US$75.74 million

Sui is one of the earliest projects in the Meta public chain, developed by the Mysten Labs team. Sui aims to create an environmentally friendly, low-cost, high-throughput, low-latency permissionless blockchain. Compared with traditional blockchains, Sui’s most critical innovation lies in Sui’s data model and transaction processing channel.

All unlocked tokens will be distributed to the community this time, including 34.62 million one-time unlocked tokens and 5.67 million pledged rewards, with a total value of US$75.74 million. The subsequent major unlock will take place on May 31st.

The specific release curve is as follows:

Galician

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Project official website:

Number of unlocked tokens this time: 3 million

Amount unlocked this time: approximately US$14.42 million

Galxe is a Web3 credential data network. Galxe is built on an open and collaborative infrastructure to help Web3 developers and projects leverage digital credential data and NFTs to build better products and communities.

GAL has been unlocked accounting for 54% of the total. This unlock will be mainly used for marketing, with a total of 2 million (valued at US$10 million) used for marketing purposes. The rest are tokens worth US$2.93 million allocated by the community and the team’s Valued at $2.08 million in tokens.

The specific release curve is as follows: