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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 five major token unlocks to watch next week. Optimism (OP) Unlock date: July 15 Number of tokens unlocked: 10 million OP Current circulating supply: 1.12 billion OP Optimism is a Layer-2 scaling solution designed to improve the speed and lower the costs of transactions on the Ethereum mainnet. The OP token plays a crucial role in governance, allowing holders to vote on proposals and decisions that shape the network’s development and management. On July 15, Optimism will increase its circulating supply by 10 million OP tokens. According to TokenUnlocks, the project will use these tokens for retroactive public goods funding program. This initiative is designed to reward projects that have positively impacted the ecosystem. By providing retroactive grants, it incentivizes developers to contribute to public goods, knowing their efforts might be rewarded later. Read more: Optimism vs. Arbitrum: Ethereum Layer-2 Rollups Compared OP Unlock. Source: token.unlocks Starknet (STRK) Unlock date: July 15 Number of tokens unlocked: 64 million STARK Current circulating supply: 1.3 billion STARK Starknet is developing a ZK-Rollup Layer-2 solution to scale decentralized applications on Ethereum. Following a successful investment round, the team introduced the STRK token, essential for decentralizing the network. “The STRK Token was born so that STARK-based scaling can happen in a more decentralized way. The token design helps Starknet to be run and managed by the community, and Provisions is a powerful means to achieve this,” said Diego Oliva, CEO of Starknet Foundation. On July 15, the project will unlock 64 million STRK tokens, distributed to investors and early contributors. Read more: A…

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Filed under: News - @ July 14, 2024 3:20 pm