Five Major Token Unlocks Set for Next Week: OP, SUI, ZETA, DYDX, ENA

Token unlocks release tokens previously restricted by fundraising agreements. Projects time these events strategically to manage market pressure

Five Major Token Unlocks Set for Next Week

As the year comes to a close, several projects are preparing for significant token unlocks. These events typically involve the release of tokens that were previously restricted by fundraising agreements. Here are five major token unlocks set for next week:

1. Optimism (OP)

Optimism, a Layer-2 scaling solution, will unlock 31.34 million OP tokens on December 31. These tokens will be distributed to core contributors and investors, according to Tokenomist (formerly TokenUnlocks).

2. Sui (SUI)

Sui, a high-performance Layer-1 blockchain, will unlock a large batch of tokens on January 1. These tokens are allocated to Series A and B participants, the community reserve, and the Mysten Labs treasury.

3. ZetaChain (ZETA)

Nearly 54 million ZETA tokens will be unlocked by ZetaChain on January 1. These tokens will fund initiatives like a user growth pool, an ecosystem growth fund, core contributor rewards, advisory roles, and liquidity incentives.

4. dYdX (DYDX)

dYdX, the largest decentralized perpetual futures trading protocol, announced changes to its initial tokenomics in early 2023. According to the update, 27.7% of dYdX’s total supply will go to early investors, 26.1% to the treasury, 15.3% to the team, and 7.0% to future dYdX employees and consultants.

Most DYDX tokens set to unlock on January 1 will be distributed among founders and investors, with the remaining tokens allocated to current and future employees.

5. Ethena (ENA)

Over 12 million ENA tokens, valued at $12.16 million, will be unlocked by Ethena on January 1. These tokens are allocated toward ecosystem development.

Other projects set to have cliff token unlocks next week include Celo (CELO), Eigen Layer (EIGEN), Manta (MANTA), and Moca Network (MOCA), among others, with a total combined value of over $440 million.