Token Unlocks Analysis - 4th Week of 2024: $PENDLE, $IMX, $SOPH & $AIT

Soph AI  - $SOPH Token Unlock

Soph AI Token ($SOPH) is the utility token for SophiaVerse, a gamified decentralized AI ecosystem that focuses on collaborative AI development. The project aims to foster a beneficial singularity, leveraging gameplay and AI programming. SOPH is an ERC-20 token with a total supply of 1 billion, used within the SophiaVerse for various activities and unlocking game features. The project's development is highlighted by a roadmap, involving AI integration and community engagement. However, the token has experienced significant market fluctuations, which is a crucial consideration for potential investors or users.

On January 25, 2024, Soph AI Token ($SOPH) is set for a significant token unlock event, releasing a total of over 23 million SOPH to various stakeholders, such as Team, Community, Strategic partners, and more. This release will distribute tokens to the team and advisors, strategic partners, and the community, with funds aimed at bolstering liquidity and accelerating ecosystem growth. The combined value of the unlocked tokens is estimated to exceed $1.3 million.

Immutable X - $IMX Token Unlock

Immutable X ($IMX) is a layer-two Ethereum scaling solution specializing in NFTs, using StarkWare's zk-rollup technology. It offers fast trading, no gas fees for NFT transactions, and carbon-neutral operations. The IMX token facilitates fee payment, staking, and governance. Immutable X focuses on the GameFi sector and hosts various NFT-based games, emphasizing security, eco-friendliness, and user experience. Co-founded by James and Robbie Ferguson, it's backed by prominent crypto VC funds and aims to be a leading platform for NFTs and digital collectibles.

On January 27, 2024, Immutable X ($IMX) is gearing up for a notable unlock event that will see a combined total of over 27 million IMX tokens, valued at roughly $51 million, released from the private sale and project development vesting schedules. This will result in a cumulative increase of approximately 1.38% in circulating supply, aimed at advancing the project's initiatives and rewarding early private investors.

Pendle Finance - $PENDLE Token Unlock

Pendle Finance ($PENDLE) is a DeFi protocol on Ethereum, enabling users to tokenize and trade future yields of yield-bearing assets. It separates assets into Principal Tokens (PT) and Yield Tokens (YT), offering fixed-income market strategies. Pendle's AMM algorithm accounts for time decay in asset valuation. The $PENDLE token is used for governance and liquidity incentives, with a focus on expanding beyond Ethereum to improve scalability and reduce costs.

On January 27, 2024, the Pendle Finance ($PENDLE) team is set for a significant vesting event, with 7,107,266 PENDLE tokens worth approximately $15.5 million being unlocked. This will mark a 3.77% increase in the circulating supply.

AiMalls - $AIT Token Unlock

AI Malls ($AIT) is an e-commerce platform that combines blockchain and artificial intelligence, powered by its utility token, AIT. Aimed at transforming the traditional shopping experience, AiMalls offers a tokenized system where AIT is used for purchasing advertising slots, accessing exclusive content, and serving as an alternative payment method. With a total supply of 850,000 AIT tokens, the project has undergone notable price volatility. The platform's roadmap includes AI integration, exchange listings, and continuous development.

On January 28, 2024, AiMalls ($AIT) is set to unlock a total of 24,792 tokens across staking, foundation, and marketing pools. This will account for an aggregate increase of approximately 3.25% in the circulating supply. The staking pool unlock of 17,708 AIT represents the bulk of this with a value of $31,882.45, supporting network security and user participation incentives. The foundation and marketing will each have a more modest unlock of 3,542 AIT, valued at $6,376.57, to further the platform's outreach and foundational strength.

Honorable Mentions:

• Convergence $CONV - Jan 23rd unlocking 1.7% to multiple vesting groups.
• Sable Finance $SABLE - Jan 23rd unlocking 2% to Initial Liquidity and Ecosystem.
• Space ID $ID - Jan 26th unlocking 1.4% to multiple vesting groups

About Vesting and Token Unlocks

Both traditional finance and Web3 emerging projects often issue a share of tokens or stocks to their shareholders. These shareholder groups can for example be the developer team, founders, advisors, and so on.

Tokens issued for shareholder groups and other use cases are often not available immediately after launch - instead, they are locked for a specified amount of time (vesting) and released into circulation according to a predetermined schedule.

Token Unlocks refer to the moments when these vested tokens become accessible or "unlocked."

Learn how to use token unlocks in trading and investing here: Track Token Unlocks & Vesting Schedule of 200+ Cryptocurrencies with CoinBrain!