In December, vested digital assets valued at about $750 million are expected to be unlocked and put on the market.
The decentralized exchange dYdX will be the project that releases the most locked tokens. In December, the exchange is anticipated to release 150 million tokens that are vested in founders, investors, and staff members. At the current market valuation, the tokens are almost $500 million in value.
The dYdX tokens were first scheduled to go on sale in February. The exchange did, however, declare in January that the lock-up would be prolonged. Rather than the date of initial release, the tokens will now be unlocked on December 1, 2023 at 12:00 am UTC. More tokens will be unlocked by the company between January and June of 2024, following the initial unlock date in December.
📢Token Unlock Update📢
dYdX Trading Inc., dYdX Foundation and certain parties to the Warrants to Purchase Tokens signed an amendment to, among other things, postpone the initial release date applicable to investor $DYDX tokens to Dec 1, 2023
Blog: https://t.co/froqUPL3ay
🧵👇🏻
— dYdX Foundation 🦔 (@dydxfoundation) January 25, 2023
In addition to dYdX, several other projects have very close dates for releasing their hold on token allocations. The Ethereum layer-2 network Optimism is also slated to unlock 24 million Optimism (OP) tokens, valued at approximately $41 million, on November 30, according to token data tracker Token Unlocks.
On December 1, the decentralized finance protocol 1inch Network, along with dYdX and Optimism, will release approximately 98 million 1inch (1INCH) tokens. As of the time of writing, the tokens are valued approximately $33 million.
