WEEKLY VESTING Jul 29 to Aug 05: $GAL Tokens Flooding the Market, $GMT, $1INCH and $BMEX
On the verge of July expect a potential price drop of $GAL as a large sum will be hitting the market. Projects like $GMT, $1INCH, and $BMEX will also unlock a notable amount.
🔒 Interesting Token Unlocks This Week:
GreenMetaverseToken - $GMT Token Unlock
Green Metaverse Token ($GMT) is a cryptocurrency associated with the STEPN mobile app, which combines elements of fitness, gaming, and blockchain technology. The token is used within the STEPN ecosystem for various functions, including purchasing virtual sneakers as non-fungible tokens (NFTs), participating in governance, and earning rewards for physical activity tracked through the app. GMT operates on the Solana blockchain.
On Jul 30, 2024, GreenMetaverseToken is set for the following unlocks:
- 22,500,000 $GMT tokens valued at $3,852,017 will be released to the "Marketing" allocation group, increasing the circulating supply by 0.75%
- 23,400,000 $GMT tokens valued at $4,126,097 will be released to the "Growth Backers 2" allocation group, increasing the circulating supply by 0.75%
- 18,500,000 $GMT tokens valued at $2,850,014 will be released to the "Foundation Reserve" allocation group, increasing the circulating supply by 0.65%
- 14,753,846 $GMT tokens valued at $2,158,263 will be released to the "Advisors" allocation group, increasing the circulating supply by 0.56%
1INCH Token - $1INCH Token Unlock
1Inch ($1INCH) Network 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 Aug 01, 2024, 1INCH Token is set for the following unlocks:
- 5,083,374 $1INCH tokens valued at $1,909,601 will be released to the "Backers 2" allocation group, increasing the circulating supply by 0.34%
- 958,341 $1INCH tokens valued at $360,006.70 will be released to the "Small Backers" allocation group, increasing the circulating supply by 0.06%
- 7,708,395 $1INCH tokens valued at $2,895,706 will be released to the "Backers 1" allocation group, increasing the circulating supply by 0.51%
- 9,375,075 $1INCH tokens valued at $3,521,805 will be released to the "Core Contributors" allocation group, increasing the circulating supply by 0.63%
- 9,374,850 $1INCH tokens valued at $3,521,720 will be released to the "Community Incentives" allocation group, increasing the circulating supply by 0.62%
BitMEX Token - $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 Aug 01, 2024, BitMEX Token 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%
Galxe - $GAL Token Unlock
Galxe ($GAL) is a cryptocurrency token associated with the Galxe platform, a Web3 credential data network. The platform allows users to build, manage, and leverage digital credentials across various blockchain ecosystems. GAL tokens are used for governance, staking, and accessing certain features within the Galxe ecosystem. The project aims to facilitate the creation and verification of on-chain and off-chain credentials for decentralized applications and services.
On Aug 05, 2024, Project Galaxy is set for the following unlocks:
- 2,000,000 $GAL tokens valued at $6,060,980 will be released to the "Marketing" allocation group, increasing the circulating supply by 1.84%
- 1,771,667 $GAL tokens valued at $5,369,019 will be released to the "Growth Backer Round 1" allocation group, increasing the circulating supply by 1.63%
- 913,733 $GAL tokens valued at $2,769,060 will be released to the "Advisors & Partners" allocation group, increasing the circulating supply by 0.84%
- 1,487,200 $GAL tokens valued at $4,506,945 will be released to the "Growth Backer Round 2" allocation group, increasing the circulating supply by 1.37%
- 1,025,000 $GAL tokens valued at $3,106,252 will be released to the "Foundation" allocation group, increasing the circulating supply by 0.94%
Honorable Mentions
- Beta ($BETA) will be releasing 1.3% on Jul 30 to "Team" and "Strategic Partners and Advisors" vesting groups.
- Covalent Query ($CQT) will be releasing 0.9% on Aug 01 to "Ecosystem", "Team" and "Staking" vesting groups.
- Seedify NFT Space ($SNFTS) will be releasing 0.9% on Aug 03 to the "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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