$82M in Tokens Set to Unlock: This Week's Highlights

$82 Million in Token Unlocks This Week: Key Details

This week, from September 2 to 8, 2024, several significant token unlocks are scheduled, totalling over $82.46 million. These unlocks involve various prominent blockchain projects, each contributing to the evolving landscape of decentralized finance and blockchain technology.

Immutable (IMX)

Immutable claims to be the pioneering layer-two scaling solution for NFTs on Ethereum. It addresses Ethereum's challenges, such as limited scalability, poor user experience, liquidity issues, and slow developer processes, by offering a more efficient blockchain.

This week Immutable will witness a major token unlock. $IMX token unlocks will happen on 6 September 2024 unlocking 2.06% of its circulating supply which is 32.47 Million IMX. The total worth of the unlock will be $46.11 million which is the highest among this week's token unlocks and allocated to the community and foundation reserve.

Taiko (TAIKO)

Taiko (TAIKO) is an open-source, permissionless ZK-Rollup that scales Ethereum while maintaining its native feel. It operates without any centralized control, allowing the community to manage all aspects, from running nodes to proposing and proving transactions. Using Taiko is just like using Ethereum but with enhanced scalability.

This week Taiko token unlocks will take place. The $TAIKO tokens will be unlocked on 5 September 2024, unlocking 19.02% of its circulating supply, which is 12.00 Million TAIKO. The total worth of the unlock will be $20.28 Million, which is the 2nd highest among this week's token unlocks and will be allocated to the community.

Mode (MODE)

Mode is a modular DeFi Layer 2 solution, constructed with the OP Stack and integrated into the Optimism Superchain. Their mainnet went live in January 2024.

$MODE token unlocks will happen on 6 September 2024 unlocking 38.46% of its circulating supply which is 1.95 Million MODE. The total worth of the unlock will be $6.39 million and allocated to the community.

Ethena (ENA)

Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native monetary solution independent of traditional banking infrastructure.

$ENA token unlocks will be on 08 September 2024 unlocking 0.82% of its circulating supply which is 14.89 Million ENA. The total worth of the unlock will be $3.57 Million and allocated to the community.

Galxe (GAL)

Galxe (GAL) is one of the world's leading Web3 credential data networks and this week it will witness a major token unlock event.

$GAL token unlocks will be on 02 September 2024 unlocking 0.82% of its circulating supply which is 1.03 Million GAL. The total worth of the unlock will be $2.31 Million and allocated to the Foundation Reserve.

Hashflow  (HFT)

Hashflow is a DEX aggregator providing extensive liquidity across top blockchains. It ensures traders get the best prices, access to $8 billion in liquidity, and the capability to trade any token both interchain and cross-chain.

$HFT token unlocks will be on 07 September 2024 unlocking 3.06% of its circulating supply which is 13.62 Million HFT. The total worth of the unlock will be $1.95 Million and allocated to the Founder/Team, Community and private investors.

dydx (DYDX)

The dYdX Chain is a proof-of-stake blockchain network developed with the Cosmos SDK and utilizing CometBFT for its consensus mechanism.

$DYDX token unlocks will be on 03 September 2024 unlocking 0.68% of its circulating supply which is 1.03 Million GAL. The total worth of the unlock will be $1.46 Million and allocated to the community.

Conclusion

The upcoming token unlocks highlight the dynamic nature of the blockchain ecosystem, with substantial amounts being released across multiple projects. These events not only reflect the growth and development within the space but also provide opportunities for community engagement and further decentralization.

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