WEEKLY VESTING 29. Apr to 6. May: $88M $MEME Airdrop, $1INCH, $BMEX and $GAL
Get ready for another week of unlocks! In the early days of May, you can expect a massive $MEME public airdrop coupled with a 4.1% $GAL flood, $1INCH, and $BMEX regular unlocks.
🔒 Interesting Token Unlocks This Week:
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 May 1st the 1Inch Network is set for the following unlocks:
- 5,083,374 $1INCH tokens valued at $2,117,369 will be released to the "Backers 2" allocation group, increasing the circulating supply by 0.34%.
- 958,341 $1INCH tokens valued at $399,176.22 will be released to the "Small Backers" allocation group, increasing the circulating supply by 0.06%.
- 7,708,395 $1INCH tokens valued at $3,210,765 will be released to the "Backers 1" allocation group, increasing the circulating supply by 0.51%.
- 9,375,075 $1INCH tokens valued at $3,904,985 will be released to the "Core Contributors" allocation group, increasing the circulating supply by 0.63%.
- 9,374,850 $1INCH tokens valued at $3,904,891 will be released to the "Community Incentives" allocation group, increasing the circulating supply by 0.62%.
- 4,531,178 $1INCH tokens valued at $1,887,364 will be released to the "Network Growth Fund" allocation group, increasing the circulating supply by 0.3%.
BitMEX - $BMEX Token Unlock
The $BMEX token is the utility token of the BitMEX trading platform, designed to enhance the user experience by offering benefits such as trading fee discounts, priority product access, and staking rewards. It's an integral part of the BitMEX ecosystem, aimed at adding value to its users' trading activities and participation in the platform's community and offerings.
On May 1st the BitMEX is set for the following unlocks:
- 3,750,030 $BMEX tokens valued at $1,808,633 will be released to the "Employee Incentives" allocation group, increasing the circulating supply by 0.83%.
- 3,125,025 $BMEX tokens valued at $1,507,194 will be released to the "Long-term Reserve" allocation group, increasing the circulating supply by 0.69%.
Meme - $MEME Token Unlock
The Meme token ($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 May 3rd Meme is set for the following unlock:
- 3.5 billion $MEME tokens valued at $88,234,756 will be released to the "Airdrop" allocation group, increasing the circulating supply by 5%.
Project Galxe - $GAL Token Unlock
Project Galxe ($GAL), is a Web3 infrastructure platform that utilizes blockchain, artificial intelligence, and digital identity technologies to enhance decentralized applications. Its native token, $GAL, is used for transaction fees, governance, and accessing services within the Galxe ecosystem. The platform emphasizes digital identities, enabling users to manage on-chain credentials and maintain pseudonymous profiles across various dApps. Galxe's market performance includes a notable trading volume and market capitalization, reflecting active community engagement and utility.
On May 5th Project Galxe is set for the following unlocks:
- 2,000,000 $GAL tokens valued at $7,073,322 will be released to the "Marketing" allocation group, increasing the circulating supply by 1%.
- 1,771,667 $GAL tokens valued at $6,265,784 will be released to the "Growth Backer Round 1" allocation group, increasing the circulating supply by 0.89%.
- 913,733 $GAL tokens valued at $3,231,565 will be released to the "Advisors & Partners" allocation group, increasing the circulating supply by 0.46%.
- 1,487,200 $GAL tokens valued at $5,259,722 will be released to the "Growth Backer Round 2" allocation group, increasing the circulating supply by 0.74%.
- 1,025,000 $GAL tokens valued at $3,625,077 will be released to the "Foundation" allocation group, increasing the circulating supply by 0.51%.
- 586,667 $GAL tokens valued at $2,074,841 will be released to the "Community Treasury" allocation group, increasing the circulating supply by 0.29%.
- 416,667 $GAL tokens valued at $1,473,609 will be released to the "Team" allocation group, increasing the circulating supply by 0.21%.
Honorable Mentions:
- Beta ($BETA) unlocking 1.3% on 30.4. to "Team" and "Strategic partners and Advisors"
- Covalent Query ($CQT) unlocking 3% on 01.05. to multiple vesting groups
- Seedify ($SNFTS) unlocking 1.4% on 04.05. 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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