WEEKLY UNLOCKS 18th to 24th December 2023: $ECT, $0KN, $CONV and $BREED

December 18, 2023
News, Token Unlocks

In this weekly report, you will find the biggest upcoming unlocks likely to move the market. This week's stars are $ECT (+1.67%), $0KN (+3%), and $CONV (+1.67%).

Interesting Token Unlocks This Week:

  • $ECT - 1.67% of the supply will enter circulation on December 20th at 00:00
  • $BREED - 1.17% of the supply will enter circulation on December 20th 00:00
  • $0KN - 3% of the supply will enter circulation on December 22nd at 00:00
  • $CONV - 1.67% of the supply will enter circulation on December 24th at 00:00

EChain Token - $ECT Token Unlock

EChain Token, or $ECT, is the native utility token of the EChain network. It is primarily used within the EChain ecosystem to pay for transaction fees and services related to on-chain activities such as smart contract execution. The token is central to the functionality of the EChain network, enabling users to engage with the platform's various blockchain-based services.

An upcoming token unlock is scheduled for December 20, 2023, where 5,000,000 tokens from the 'Reserve 2023-2024' allocation will be unlocked, constituting 1.67% of the supply, valued at approximately $1,197.62.

Zero Knowledge Network - $0KN Token Unlock

The Zero Knowledge Network, with its token $0KN, is a decentralized privacy network infrastructure. It aims to preserve user anonymity even against adversaries monitoring the entire network. $0KN leverages a next-generation, mixnet-based metadata-private anonymous broadcast network called Trellis. This network is designed to protect user anonymity, assuming that a fraction of all network servers might be malicious.

A significant unlock event for $0KN is slated for December 22, 2023, releasing 300,000,000 tokens allocated for 'Node/Server Rewards Lock,' valued at around $513,615.96.

Convergence - $CONV Token Unlock

Convergence Finance, which uses the $CONV token, is a platform aiming to democratize access to quality projects and Initial DEX Offerings (IDOs). It creates a robust DeFi ecosystem in a secure and compliant environment. The platform utilizes $CONV tokens for cross-chain compatibility, maximizing liquidity across different chains. This allows users to interact with private-sale token projects and transact beyond the standard ERC20.

On December 24, 2023, multiple unlocks are scheduled: 27,777,778 tokens each for the 'Community' and 'Liquidity' pools, and 111,111,111 tokens for the 'Ecosystem' pool. These unlocks represent 0.28% and 1.11% of the total supply, respectively, with a combined value of approximately $109,206.99.

Breeder DAO - $BREED Token Unlock

Breeder DAO operates as an asset production factory for gaming assets in the Metaverse. The project focuses on generating high-quality, curated assets at scale for major guilds in the Metaverse, thus enhancing their play-to-earn economies. Breed DAO develops all its asset generation tools in-house, using a combination of game mastery, data-driven analytics, and modeling. 

Upcoming unlocks on December 20, 2023, include 3,333,333 tokens for the 'Advisory' group, 4,166,667 tokens each for the 'Private' and 'Seed' groups, totaling 0.33%, 0.42%, and 0.42% of the supply. These unlocks are valued at approximately $122,612.67 and $153,265.84 for the 'Private' and 'Seed' groups, respectively.

Other Honorable Mentions

  • $HELLO - 0.8% of total supply unlocking on Dec 19th
  • $UBXS - 1.1% of total supply unlocking on Dec 21st
  • $SABLE - 0.4% of total supply unlocking on Dec 24th

About Vesting and Token Unlocks

Both in traditional finance and in Web3 emerging projects often issue a share of tokens or stocks to its 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!

Disclaimer: The content of this piece reflects the writer's opinion. This article is not intended to provide financial advice and is meant solely for entertainment and educational purposes. Investing in cryptocurrency involves significant risk. Capital is at risk, and returns are not guaranteed. Always conduct your own research.

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