Top Token Unlocks of the Week Oct 29. - Nov 4.: $ZETA, $BETA, $MEME and More!
On the verge of October and November you can expect some delicious unlocks from projects like $MEME, ZetaChain, or BetaFinance. Fast acting will be the key in this!
🔒 Top Token Unlocks This Week:
ZetaChain - $ZETA Token Unlock
The $ZETA token is the native cryptocurrency of the ZetaChain network. It serves multiple purposes within the ecosystem, including facilitating cross-chain transactions, paying for gas fees, participating in network governance, and staking for network security. By holding and using $ZETA, users can engage with various aspects of the ZetaChain ecosystem and potentially benefit from its growth and adoption in the broader blockchain landscape.
On Oct 29, 2024, is set for the following unlocks:
- 15,750,000 $ZETA tokens valued at $10,720,925 will be released to the "Core Contributors" allocation group, increasing the circulating supply by 2.63%
- 11,200,000 $ZETA tokens valued at $7,623,769 will be released to the "Purchasers and Advisors" allocation group, increasing the circulating supply by 1.87%
- 6,000,000 $ZETA tokens valued at $4,084,162 will be released to the "Ecosystem Growth Fund" allocation group, increasing the circulating supply by 1%
BetaFinance - $BETA Token Unlock
Beta Finance is a DeFi protocol focused on providing users with a platform for permissionless money markets, allowing for the lending, borrowing, and short-selling of cryptocurrencies. Its native token, $BETA, is used within the platform to incentivize liquidity provision, governance participation, and staking rewards. Beta Finance aims to address volatility and inefficiencies in DeFi by offering a streamlined experience for users to hedge against crypto assets and manage risks effectively. By enabling short positions, Beta Finance provides a key financial tool for market participants to balance exposure in volatile markets.
On Oct 30, 2024, Beta Token is set for the following unlocks:
- 10,000,000 $BETA tokens valued at $640,025.90 will be released to the "Team" allocation group, increasing the circulating supply by 1%
- 2,500,000 $BETA tokens valued at $160,006.47 will be released to the "Strategic Partners and Advisors" allocation group, increasing the circulating supply by 0.25%
1Inch - $1INCH Token Unlock
1Inch Network ($1INCH) is a decentralized finance (DeFi) project that focuses on providing users with the most efficient trading routes across multiple platforms. Their key offering is the 1Inch Aggregation Protocol, which scours the DeFi market for the best cryptocurrency prices and pools them on one platform. The $1INCH token operates as both a governance and utility token within the 1Inch Network.
On Nov 01, 2024, 1INCH Token is set for the following unlocks:
- 5,081,910 $1INCH tokens valued at $1,347,650 will be released to the "Backers 2" allocation group, increasing the circulating supply by 0.4%
- 958,065 $1INCH tokens valued at $254,065.13 will be released to the "Small Backers" allocation group, increasing the circulating supply by 0.08%
- 7,706,175 $1INCH tokens valued at $2,043,567 will be released to the "Backers 1" allocation group, increasing the circulating supply by 0.6%
- 9,372,375 $1INCH tokens valued at $2,485,420 will be released to the "Core Contributors" allocation group, increasing the circulating supply by 0.73%
- 9,374,850 $1INCH tokens valued at $2,486,076 will be released to the "Community Incentives" allocation group, increasing the circulating supply by 0.73%
Memecoin - $MEME Token Unlock
The Meme token ($MEME) is a token built strictly for entertainment purposes without any additional utility and is therefore utterly useless. In the Meme Whitepaper, its authors explicitly write what $MEME is not and what it is NOT intended to be, such as medium of exchange, shareholding representation, capital market product, voting rights representations, and so on. What a refreshing take!
On Nov 03, 2024, Memecoin is set for the following unlocks:
- 1B $MEME tokens valued at $12,874,469 will be released to the "Advisory" allocation group, increasing the circulating supply by 1.5%
- 3.5B $MEME tokens valued at $42,914,897 will be released to the "Airdrop" allocation group, increasing the circulating supply by 5%
Honorable Mentions
- On November 1st, BitMex ($BMEX) will release 0.7% of its total supply to the “Long-term Reserve” Vesting Group.
- On November 1st, Covalent Query ($CQT) will release 0.9% of its total supply to “Team”, “Ecosystem” and “Staking” vesting groups.
- On November 2nd, Seedify NFT Space ($SNFTS) will release 1.0% of its total supply to “Vesting Group 3”.
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."
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