Token unlock next week: OP unlocks tokens worth $90 million

According to Odaily Star Daily, next week, 8 projects will have token unlocking events. Three projects will unlock more than 2% of the circulating supply, namely YGG, PRIME, and OP. There are no large-scale unlocking projects this week.

Specific unlocking details are as follows:

YGG

Amount unlocked this time: 16.69 million tokens

Amount unlocked this time: approximately $15.84 million

Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) for investing in NFTs based on virtual worlds and blockchain games.

The circulating supply of YGG tokens accounts for 59% of the total supply. This release mainly targets community distribution with 7.01 million YGG tokens released (valued at around $5.69 million), other recipients include founders, investors, and project treasury. Although the amount released is not large, there may be some selling pressure due to the relatively small total market value.

Prime

Amount unlocked this time: 1.67 million tokens

Amount unlocked this time: approximately $15.67 million

Echelon Prime is a chain game platform that has launched two games - card game Parallel TCG and simulation game Parallel Colony so far.PRIME is the utility token of Echelon and its gaming ecosystem used to purchase various products, services, and gaming experiences.

This round of token unlocks mainly targets two categories - reserves funds for Parallel Studios distributing tokens worth $24.94 million and investors distributing tokens worth $20.51 million.

Optimism

Amount unlocked this time: 26.41 million tokens

Amount unlocked this time: approximately $90 .6million 

Optimism is a Layer-2 scaling solution that achieves Ethereum's scalability goals by adopting an Optimistic Rollup scheme while maintaining Ethereum's security by processing transactions on a large scale without developers needing to make changes efficiently using all tools on Ethereum network.OP currently accounts for 22% of the total circulation volume.This round focuses on core contributors and investors with former receiving127 .5million OP(tokens valued at$43 .61million)and latter receiving1141OP(tokens valued at$39 .02million). The unlock amount accounts for only2 .4%of circulation volume.Considering OP's high market value trading volume,the expected impact level isn't high