According to TokenUnlocks data, as we enter May, $3 billion worth of Token are about to be unlocked across 7 different projects.
The two biggest unlocks will be from DeFi oracle network Pyth and crypto Derivative platform Aevo (formerly Ribbon Finance).
Most projects provide total Token supply by day, week, month or year. For example, Bitcoin currently has 19.7 million of its 21 million total circulating supply. Most projects clearly state the timeline for the Token Economy in a Whitepaper -like Whitepaper.
The most notable unlock event was the much-hyped DeFi oracle network Pyth. The project launched its first unlock just 6 months after launch. At 9:00 p.m. on May 20 (Vietnam time), 2.13 billion PYTH Token will flow into the market. Using current prices, this unlock is worth about $1.24 billion.
Just over half of those Token will go towards ecosystem development and a quarter reward publishers. The remaining Token will help develop the protocol and be auctioned through private sales.
This unlock event is a cliff unlock type, which TokenUnlocks defines as a large amount of Token being unlocked at one time rather than a drip supply over several days. Pyth will unlock 2.13 billion Token in May 2024, and the next unlock of the same number of Token begins a year later.
Meanwhile, Aevo will implement both cliff and linear unlocking. Linear unlocks are released daily in specified amounts.
Source: TokenUnlocks
On May 15, 827.6 million AEVO Token ($1.26 billion) will enter the market. After that, 6.13 million AEVO Token ($9.32 million) will be launched every day for the next 9 days.
In this case, the majority of Token will go to the DAO Treasury, followed by the team and “initial private sale investors”. After that, there is no more scheduled Token Lockup unlocking.
Thus, just the above two projects have a total of more than $2.5 billion going into the cryptocurrency market.
Although the remaining projects will not have billions of dollars unlocked, they are still notable events with millions of market participants.
For example, Ethereum competitor Avalanche will release 9.54 million AVAX ($329.19 million) on May 22. These Token will go to the team, Foundation, strategic partners, as well as 1.13 million AVAX ($38.81 million) Airdrop.
Memecoin will also issue 5.31 billion Meme token ($147.95 million) on May 3, followed by 49.47 Meme token ($1.38 million) each day for the next 184 days. The majority of cliff unlocks will be released as Airdrop while linear unlocks will mainly flow to the ecosystem and investors.
Memecoin is strictly a speculative asset with no utility, roadmap or promise – it's really just a meme. Created by community company Memeland, the project's 2 million passionate fans can Stake or farm Token through Stakeland or Meme Farming respectively.
Ethereum Layer 2 Arbitrum will unlock 92.65 million ARB ($103.76 million) on May 16, all of which will belong to the team, future team, advisors and investors. Meanwhile, Aptos will unlock 11.31 APT ($102.1 million) on May 12 for the Foundation, community, core contributors, and investors.
Finally, the Bored Ape -themed ApeCoin will issue 15.6 million APE ($19.97 million) on May 17, mainly going to the treasury and Yuga Labs according to TokenUnlocks .
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Minh Anh
According to Decrypt
