Major Token Unlocks of Next Week: TAIKO, IMX and MODE
The post Major Token Unlocks of Next Week: TAIKO, IMX and MODE appeared on BitcoinEthereumNews.com.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices. However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are three major unlocks to watch next week. Taiko (TAIKO) Unlock date: September 5 Number of tokens unlocked: 12 million TAIKO Current circulating supply: 63.09 million TAIKO Taiko is a decentralized Layer-2 scaling solution for Ethereum, leveraging ZK-Rollup technology. The protocol operates in a permissionless manner, allowing community members to participate in network operations On September 5, Taiko will unlock a substantial portion of its TAIKO tokens, representing 19% of the current circulating supply. The project will distribute the newly released tokens to participants in the Trailblazer program. Read more: Layer-2 Crypto Projects for 2024: The Top Picks TAIKO Unlock. Source: token.unlocks Immutable (IMX) Unlock date: September 6 Number of tokens unlocked: 32.47 million IMX Current circulating supply: 1.57 billion IMX Immutable is a Layer-2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million during the IMX token sale on the CoinList platform in just one hour. In March 2022, it closed a $60 million investment round and secured an additional $200 million from investors, including ParaFi Capital, Declaration Partners, and Tencent Holdings. On September 6, the circulating supply of IMX will increase by 32.47 million tokens. These newly unlocked coins will be allocated to the development of the project and the broader Immutable ecosystem. Read more: What Is Immutable? IMX Unlock. Source: token.unlocks Mode (MODE) Unlock date: September 6 Number of tokens unlocked: 500 million MODE Current circulating supply: 1.3 billion MODE Mode Network is a modular Layer-2 network focused on DeFi, built on Optimism’s Bedrock upgrade. The network features a unique contract revenue-sharing incentive…
Filed under: News - @ September 1, 2024 9:09 pm