Space ID set to unlock 18% of token supply this month
Share
this
article
Space
ID,
a
universal
name
service
network
and
one-stop
identity
platform
for
Web3
domains,
is
expected
to
unlock
over
$55
million
worth
of
ID
tokens
on
June
22,
2024,
according
to
data
from
Token
Unlocks.
This
represents
18%
of
its
circulating
supply.
Token
unlocks
are
often
used
to
manage
the
emission
of
tokens
over
time,
ensuring
a
steady
and
controlled
release
of
new
tokens
into
the
market.
This
approach
helps
maintain
the
stability
and
value
of
the
tokens
by
preventing
sudden
surges
or
drops
in
supply.
Space
ID’s
upcoming
unlock
will
distribute
around
78
million
ID
tokens
to
eight
groups,
including
ecosystem
fund,
foundation,
seed
sale,
strategic
sale,
community
airdrop,
marketing,
team,
and
advisors.
Apart
from
Space
ID,
Arbitrum
(ARB),
Starknet
(STRK),
and
Optimism
(OP)
are
projects
with
major
releases
this
month.
Starknet
is
set
to
distribute
64
million
STRK
tokens,
valued
at
almost
$75
million,
to
early
contributors
and
investors.
This
token
release
is
scheduled
for
June
15
and
represents
5.6%
of
its
circulating
supply.
Arbitrum
will
release
over
92
million
ARB
tokens,
worth
around
$104
million,
on
June
16.
These
tokens,
accounting
for
3.2%
of
ARB’s
supply,
will
be
allocated
to
the
team,
advisors,
and
investors.
Optimism
will
unlock
31.34
million,
equivalent
to
around
$77
million,
on
June
30.
This
unlock
represents
2.8%
of
the
token
supply.
Share
this
article
Comments are closed.