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Digital Assets Worth $750M, Including dYdX Tokens, Set to Unlock in December

Algoine News
Summary:
In December, digital assets worth about $750 million are set to be unlocked, with decentralized exchange dYdX leading by releasing 150 million tokens. Other projects, including Ethereum layer-2 network Optimism and decentralized finance protocol 1inch, will also unlock tokens. Additionally, blockchain project Aptos will unlock almost 25 million tokens in the same month.
This December, digital assets worth approximately $750 million will be unlocked and made available in the market. Decentralized exchange (DEX) dYdX is set to release the highest quantity, unlocking 150 million tokens, allocated to investors, founders, and employees. These tokens, at current market value, are estimated to be just shy of $500 million. Although the initial release of dYdX's issued tokens was slated for February, the decision was made in January to delay the release. Consequently, the date has been moved to December 1, 2023, at 12:00 (UTC). Following that, dYdX plans to unlock more tokens from January 2024 through to June 2024. In addition to dYdX, other projects also plan to lift their restrictions on token allocations soon. Optimism, an Ethereum layer-2 network, is set to unlock 24 million Optimism (OP) tokens, totaling around $41 million, on November 30. Furthermore, decentralized finance (DeFi) protocol 1inch intends to unlock nearly 98 million 1inch (1INCH) tokens on December 1, which holds a value hovering around $33 million as of now. Moreover, Aptos, a proof-of-stake (PoS) blockchain venture is also on the list for releasing a significant number of tokens in December. Information from Token Unlocks highlights that Aptos plans to unlock approximately 25 million Aptos (APT) tokens, with an estimated value of $180 million, on December 12.

Published At

11/27/2023 11:20:35 AM

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