This week, the Avalanche (AVAX) Layer 1 blockchain mainnet upgrade and the launch of the modular blockchain Soph (SOPH) mainnet, as well as various token unlocks, are scheduled.
Avalanche will upgrade its mainnet on the 17th (local time). This is the largest upgrade since the mainnet launch in 2020. The main contents are to reduce transaction costs within the chain and provide grants to developers building on the blockchain. Last week, they raised $250 million in a private token sale with more than 40 companies participating, including Skybridge and SCB Limited.
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Soph will launch its mainnet on the 18th. Soph, which was invested in by Binance Ventures, the venture capital arm of the global cryptocurrency exchange Binance, last October, unveiled its tokenomics roadmap using its native token 'SOPH' in April.
There are also token unlock schedules. Lockup refers to prohibiting the trading and transfer of tokens for a certain period. When the lockup is released, the increased token supply in the market may temporarily lower the price.
On the 17th, ApeCoin (APE) will unlock 15.6 million APE, which is 2.16% of the circulating supply. On the same day, Eshalion Prime (PRIME) will unlock 750,000 of its own tokens, which is 1.46% of the circulating supply. On the 18th, Etena (ENA) and Eigen Layer (EIGEN) will unlock 12.86 million and 1.29 million of their respective tokens, which are 0.44% and 0.61% of their current circulating supplies.
- Jae-heon Choi, Reporter
- chsn12@decenter.kr
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