Weekly Unlocks Update: Massive $NYM Unlock, $HFT, $TKO and $HyPC
Dive into the world of tokenomics with our latest token unlock update. This week get ready for upcoming unlocks of $TKO, $HyPC, $HFT, and a significant portion of $NYM.
🔒 Interesting Token Unlocks This Week:
- $HFT - 1.6% of the total supply will enter circulation on Feb 7th at 00:00.
- $TKO - 2% of the total supply will enter circulation on Feb 7th at 00:00.
- $HyPC - 1.9% of the total supply will enter circulation on Feb 8th at 00:00.
- $NYM - 8.3% of the total supply will enter circulation on Feb 11th at 00:00
HashFlow - $HFT Token Unlock
Hashflow ($HFT) is a decentralized exchange (DEX) that facilitates trading across multiple blockchains like Ethereum, BNB Chain, and others without the need for bridges. It uses a request for quote model to ensure traders get guaranteed price quotes from market makers. Hashflow offers revenue sharing to HFT stakers, gamified DAO experiences through Hashverse, and employs a vote-escrow model for governance.
On February 7, 2024, Hashflow is set for a token unlock that will release 7,027,834 HFT to Investors, increasing the circulating supply by 0.7% and valued at approximately $2.14 million. Alongside, 5,992,600 HFT tokens allocated for Ecosystem Development and 3,250,065 HFT for the Team will also be unlocked, contributing to a 0.6% and 0.33% rise in circulating supply respectively, with a combined value of over $2.8 million.
TokoCrypto - $TKO Token Unlock
TokoCrypto's $TKO token is an innovative cryptocurrency emerging from Indonesia's first registered digital asset exchange. The TKO token is a multifunctional ERC-20 token that integrates both CeFi (Centralized Finance) and DeFi (Decentralized Finance) features within its platform. The token facilitates a range of platform-specific benefits for its holders, including discounts on trading fees, stakeholder rewards, and governance participation rights.
On February 7, 2024, TokoCrypto's $TKO is scheduled for a significant token unlock from the Foundation Reserves. A total of 10,000,000 tokens will be released, translating to a 2.02% increase in the circulating supply and valued at approximately $3,306,390. This event will add a substantial amount of $TKO to the market, potentially influencing its price and availability for trading
HyperCycle - $HyPC Token Unlock
HyperCycle ($HyPC) is a cryptocurrency that serves as a utility token within the HyperCycle network, a Layer 0++ blockchain architecture designed to facilitate high-speed and cost-effective on-chain execution of microservices. The network is particularly optimized for AI-related applications, providing a platform for decentralized AI and computation for various use cases.
On February 8, 2024, HyperCycle ($HYPC) is set to execute a multi-faceted token unlock that will see an aggregate release of tokens to various key groups within its ecosystem. This coordinated release to Strategic Partners, Team and Advisors, Liquidity Rewards Pool, Ecosystem and Network Adoption Fund, and the Network Incentive Pool will collectively increase the circulating supply by 1.9%.
NYM - $NYM Token Unlock
Nym is a decentralized, open-source platform that significantly enhances privacy for all internet traffic, including messaging, transactions, and digital services. The project, supported by prominent venture capitalists and validators, addresses a critical issue of the internet: the visibility of communication patterns even when encrypted. Nym operates a multi-layered network called a mixnet, which encrypts and relays internet traffic, ensuring privacy at the network layer.
On February 3, 2024, the NYM network will undergo a significant token release event, with 43,750,000 tokens allocated to Backers and 25,000,000 to the Team, amounting to valuations of approximately $8.6 million and $4.9 million respectively. This distribution could have a notable impact on the market as it represents a critical phase in the network's lifecycle.
Honorable Mentions:
- The Dons ($DONS) - Feb 7th unlocking 1% to team wallets.
- Turbo ($TURBO) - Feb 11th unlocking 0.5% to vesting group 2.
- Liquidus ($LIQ) - Feb 12th unlocking 1.8% 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."
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