According to Token Unlocks data, Space ID, a platform for Web3 domains and identity services, is poised to release over $55 million worth of ID tokens on June 22, 2024, constituting 18% of its circulating supply.
Token unlocks are commonly employed to regulate token issuance over time, ensuring a gradual and controlled introduction of new tokens to the market. This strategy aims to maintain token stability and value by avoiding sudden spikes or drops in token supply.
Space ID's upcoming unlock will distribute approximately 78 million ID tokens across eight groups, including ecosystem funds, foundation, seed sale, strategic sale, community airdrop, marketing, team, and advisors.
In addition to Space ID, other projects like Arbitrum (ARB), Starknet (STRK), and Optimism (OP) have significant releases scheduled for this month.
Starknet plans to distribute 64 million STRK tokens, valued at nearly $75 million, to early contributors and investors on June 15, representing 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 tokens, equivalent to approximately $77 million, on June 30. This represents 2.8% of the token supply.
June 2024, Cryptoniteuae