WEEKLY UNLOCKS Feb 19-25: Massive 18.4% $ALPINE Unlock, $IMX, $CONV and More

Daniel Urbánek
Daniel Urbánek
February 19 at 05:00
News, Education, Token Unlocks

In this week's summary, you will find the most prominent token unlocks of Feb 19-25. Prepare for a unique 18.4% $ALPINE unlock accompanied by $IMX, $CONV and $0KN.

🔒 Interesting Token Unlocks This Week:

  • $0KN - 3% of the total supply will enter circulation on Feb 20th at 00:00.
  • $ALPINE - 18.4% of the total supply will enter circulation on Feb 21st at 00:00.
  • $CONV - 1.2% of the total supply will enter circulation on Feb 23rd at 00:00.
  • $IMX - 1.4% of the total supply will enter circulation on Feb 24th at 00:00.

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.

The Zero Knowledge Network ($0KN) will release 300,000,000 tokens from the Node/Server Rewards Lock on February 20, 2024. This will result in a 3% increase in the circulating supply, with the value of the released tokens totaling approximately $353,122.35. This unlock is a part of the network's incentive program for node or server operators, contributing to the overall network health and performance.

Alpine Fan Token - $ALPINE Token Unlock

The BWT Alpine F1® Team Supporter Token ($ALPINE) is a BEP-20 utility token crafted to transform the engagement experience for supporters of the BWT Alpine F1® Team. This token grants holders the ability to engage in decision-making through team-related votes, collect digital memorabilia, acquire NFTs, and access gamified elements that offer rewards and exclusive experiences for fans.

On February 21, 2024, $ALPINE is scheduled for a significant vesting event that will increase the circulating supply by an aggregate of 18.4%. This event will see 1,599,998 tokens (valued at approximately $4.97 million) released to the Team, accounting for a 4% rise in circulating supply. The User Fund will receive the largest allocation with 2,800,000 tokens, valued at around $8.7 million, increasing supply by 7%. Developers are allocated 1,760,000 tokens, contributing a 4.4% boost to the supply and carrying a value of about $5.47 million. Lastly, the Loyalty Subscription unlocks 1,200,000 tokens, amounting to a 3% increase and valued at roughly $3.73 million.

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 February 23, 2024, the $CONV token will undergo a vesting event impacting three different groups within its network. The Community and Liquidity pools will each see an addition of 5,555,556 tokens, equating to a 0.06% increase in circulating supply for each pool, with a value of approximately $5,008. More substantially, the Ecosystem pool will receive 111,111,111 tokens, resulting in a 1.11% increase in supply, valued at around $100,158. This event will collectively expand the circulating supply by 1.23%.

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.

Immutable X will undergo two unlock events on February 24, 2024. Tokens from the Private Sale, amounting to 14,822,129 (a 0.74% increase in circulating supply), will be released, along with 12,787,500 tokens allocated for Project Development, constituting a 0.64% supply rise. The combined release will add up to a 1.38% increase in circulating supply, with the Private Sale and Project Development allocations valued at approximately $45.48 million and $39.23 million, respectively.

Honorable Mentions:

  • Openfabric ($OFN) - Feb 21st unlocking 1,2% to multiple vesting groups.
  •  MEVFree ($MEV)- Feb 25th unlocking 7.7% to multiple "Vesting group 6".
  • Sakai Vault ($SAKAI) - Feb 24th unlocking 0.8% 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!

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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