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Space ID is set to unlock 18% of the token supply this month
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According to Space ID, a universal naming service network and one-stop identity platform for Web3 domains, it is expected to unlock more than $55 million worth of ID tokens on June 22, 2024. data from token unlocks. This represents 18% of its circulating supply.
Token unlocks are often used to manage the issuance of tokens over time, ensuring a constant and controlled release of new tokens to the market. This approach helps maintain the stability and value of tokens by preventing sudden increases or decreases in supply.
The upcoming unlock of Space ID will distribute approximately 78 million ID tokens to eight groups, including ecosystem fund, foundation, seed sale, strategic sale, community launch, marketing, team and consultants.
In addition to Space ID, Arbitrum (ARB), Starknet (STRK), and Optimism (OP) are projects with major releases this month.
Starknet will distribute 64 million STRK tokens, worth nearly $75 million, to early contributors and investors. The release of this token is scheduled for June 15th and represents 5.6% of its circulating supply.
Arbitrum will release over 92 million ARB tokens, worth approximately $104 million, on June 16. These tokens, which represent 3.2% of ARB’s supply, will be allocated to the team, advisors and investors.
Optimism will unlock 31.34 million, equivalent to approximately $77 million, on June 30. This unlock represents 2.8% of the token supply.
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