Top Token Unlocks of the Week: $PPT, $OFN, $SOPH, $TENET and More!
This article explains the most significant vesting token unlocks on the week of November 18th to 25th. Stay ahead of the curve and learn about unlocks before they occur!
🔒 TOP Token Unlocks This Week:
- $OFN - 2.04% of the total supply will enter circulation on Nov 19, 2024.
- $PPT - 2.16% of the total supply will enter circulation on Nov 19, 2024.
- $DYDX - 1.80% of the total supply will enter circulation on Nov 21, 2024.
- $SOPH - 2.39% of the total supply will enter circulation on Nov 25, 2024.
- $TENET - 2.50% of the total supply will enter circulation on Nov 25, 2024.
Openfabric - $OFN Token Unlock
Openfabric is an AI-focused blockchain project that aims to create a decentralized ecosystem for AI development and deployment. The platform is designed to connect AI developers, businesses, and users, allowing for the creation, sharing, and monetization of AI models and services. OpenFabric utilizes its native token, $OFN, which serves multiple purposes within the ecosystem. These include facilitating transactions, incentivizing network participants, and governance of the platform.
On Nov 19, 2024, Openfabric is set for the following unlocks:
- 2,500,000 $OFN tokens valued at $302,164.18 will be released to the "Team and Advisors" allocation group, increasing the circulating supply by 2.04%
Pop Social - $PPT Token Unlock
Pop Social Token ($PPT) is the native cryptocurrency of the Pop Social platform, a blockchain-based social media ecosystem that integrates Web3 technology. Designed to reward user engagement and content creation, $PPT functions as both a utility and governance token within the platform. Users and creators on Pop Social can earn $PPT through various activities such as posting, sharing, and interacting with content. The token can be used to access premium features, tip creators, and purchase NFTs within the ecosystem.
On Nov 19, 2024, is set for the following unlocks:
- 2,500,000 $PPT tokens valued at $84,567.98 will be released to the "Foundation Reserve" allocation group, increasing the circulating supply by 1.25%
- 416,667 $PPT tokens valued at $14,094.66 will be released to the "Strategic Round" allocation group, increasing the circulating supply by 0.21%
- 166,667 $PPT tokens valued at $5,637.87 will be released to the "Advisors" allocation group, increasing the circulating supply by 0.08%
- 230,833 $PPT tokens valued at $7,808.44 will be released to the "Treasury" allocation group, increasing the circulating supply by 0.12%
- 1,000,000 $PPT tokens valued at $33,827.19 will be released to the "Developer Team" allocation group, increasing the circulating supply by 0.5%
dYdX - $DYDX Token Unlock
dYdX ($DYDX) is a decentralized exchange that offers advanced trading features such as perpetual contracts, spot trading, and margin trading. Initially built on Ethereum's Layer 2 solution StarkEx to enhance scalability and reduce gas fees, dYdX transitioned to its own blockchain using the Cosmos SDK with its v4 upgrade, achieving full decentralization and higher transaction throughput. The platform is designed for both individual and institutional traders, providing leveraged trading opportunities and maintaining a non-custodial model, which ensures that users retain control of their funds.
On Nov 21, 2024 dYdX is set for the following unlocks:
- 9,233,333 $DYDX tokens valued at $11,351,710 will be released to the "Investors" allocation group, increasing the circulating supply by 1%
- 5,100,000 $DYDX tokens valued at $6,270,078 will be released to the "Employees and Consultants" allocation group, increasing the circulating supply by 0.55%
- 2,333,333 $DYDX tokens valued at $2,868,663 will be released to the "Future Employees and Consultants" allocation group, increasing the circulating supply by 0.25%
Sophiaverse - $SOPH Token Unlock
The SophiaVerse project ($SOPH) aims to create a decentralized platform that leverages AI to enhance various applications and services within the crypto space. By utilizing smart contracts and decentralized technologies, SophiaVerse seeks to provide innovative solutions for data management, automation, and intelligent decision-making processes. The $SOPH token serves as the native currency, facilitating transactions, incentivizing participation, and enabling access to AI-powered services on the platform.
On Nov 25, 2024, SOPH AI Token is set for the following unlocks:
- 5,000,040 $SOPH tokens valued at $86,883.00 will be released to the "Team and Advisors" allocation group, increasing the circulating supply by 0.45%
- 5,520,877 $SOPH tokens valued at $95,933.31 will be released to the "Strategic Partners" allocation group, increasing the circulating supply by 0.5%
- 3,472,250 $SOPH tokens valued at $60,335.41 will be released to the "Community Incentive Pool" allocation group, increasing the circulating supply by 0.3%
- 3,472,250 $SOPH tokens valued at $60,335.41 will be released to the "Liquidity Rewards Pool" allocation group, increasing the circulating supply by 0.3%
- 6,666,720 $SOPH tokens valued at $115,844.00 will be released to the "Ecosystem and Network Adoption Fund" allocation group, increasing the circulating supply by 0.6%
Tenet - $TENET Token Unlock
Tenet ($TENET) is a Layer 1 blockchain platform designed to enhance the utility and liquidity of Liquid Staking Derivatives (LSDs). Built using the Cosmos SDK, Tenet introduces a unique consensus mechanism known as Diversified Proof of Stake (DiPoS). This approach allows validators to stake a diverse array of assets, including LSDs from various blockchains such as Ethereum (ETH), Binance Coin (BNB), Cosmos (ATOM), and Cardano (ADA). By leveraging these assets, Tenet bolsters its network security and offers users additional yield opportunities.
On Nov 25, 2024, TENET is set for the following unlocks:
- 3,694,704 $TENET tokens valued at $186,506.34 will be released to the "Public Sale" allocation group, increasing the circulating supply by 0.4%
- 1,989,456 $TENET tokens valued at $100,426.49 will be released to the "KOLs" allocation group, increasing the circulating supply by 0.22%
- 2,880,000 $TENET tokens valued at $145,380.59 will be released to the "Reserve" allocation group, increasing the circulating supply by 0.32%
- 4,800,000 $TENET tokens valued at $242,300.98 will be released to the "Grants and Ecosystem Development" allocation group, increasing the circulating supply by 0.5%
- 3,840,000 $TENET tokens valued at $193,840.79 will be released to the "Marketing, Acquisition, Partnerships" allocation group, increasing the circulating supply by 0.43%
Honorable Mentions
- On November 20th, Solidus AITech ($AITECH) will release 0.77% and on Nov 23rd will release 5.36% of its total supply to “Private”, “Seed”, and additional vesting groups.
- On November 20th, Braintrust ($BTRST) will release 0.5% of its total supply to the “Early Contributors” vesting group.
- On November 23rd AIMalls ($AIT) will release 0.9% of its total supply to the “Foundation” and “Marketing” 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!
