特朗普令牌解锁是一群人（通常是项目团队成员，早期投资者或顾问）将其分配给的令牌

令牌解锁的是，一群人（通常是项目团队成员，早期投资者或顾问）免费或以较低的价格分配给他们的代币

A group of people—usually project team members, early investors or advisors—receive their allocated tokens for credit or at a lower price after a predetermined amount of time and are allowed to sell them. Token unlocks are a way for project founders to guarantee to investors that they won’t do a rug pull—a common scam in which a memecoin project’s team members dump their holdings at once, tanking the token’s price and leaving investors holding the bag.

一群人（通常是项目团队成员，早期投资者或顾问）将其分配给信贷的代币或以较低的价格出售，并在预定的时间后以较低的价格出售，并被允许出售。令牌解锁是项目创始人向投资者保证不会进行地毯的一种方式，这是一个常见的骗局，其中Memecoin Project的团队成员立即将其持有，使代币的价格下跌并让投资者持有袋子。

But while investors had been fearing that the new tranches of tokens would be sold immediately, the crypto analysis firm Chainalysis said that no activity of that nature had been detected yet.

但是，尽管投资者一直担心新的代币将立即出售，但加密分析公司链分析表示，尚未发现这种性质的活动。

“As of 1 p.m. ET on Monday, Chainalysis hasn't detected any on-chain actions from the creators of $Trump coins,” the firm told Fortune.

该公司告诉《财富》，“截至周一，截至周一，链条分析尚未发现$特朗普硬币的创建者的任何链子行动。”

That finding suggests that the token team’s perceived commitment to the project has sparked increased confidence in the token’s longevity, leading investors to return en masse over the weekend, Dylan Bane, an analyst at research firm Messari, told Fortune.

这一发现表明，代币团队对该项目的承诺引发了人们对代币寿命的增强信心，这使投资者在周末返回大批货币。

“Because the price hasn't gone down and a large-scale sale has not occurred, the markets might be pricing in the possibility that the Trump team just chooses to hold on to these tokens,” Bane said.

贝恩说：“由于价格尚未下跌，而且没有进行大规模销售，因此市场可能是因为特朗普团队选择坚持这些代币的可能性。”

However, this does not mean that the team behind the token won’t ever sell, Bane added. While there were 200 million tokens released for the launch in January, there are staggered unlocks scheduled every few months until 2028, when the total supply of tokens will reach 1 billion.

但是，这并不意味着代币背后的团队永远不会出售。虽然一月份发布了2亿个令牌，但预定每隔几个月就有交错的解锁，直到2028年，届时代币的总供应将达到10亿。

“There's a lot more to be unlocked,” Bane said. “So, if the price goes down, that's not in the team's interest since most of their tokens are not unlocked yet.”

贝恩说：“还有很多要解锁的。” “因此，如果价格下跌，那不符合团队的利益，因为他们的大多数令牌尚未解锁。”

Investors’ anxiety with Trump’s memecoin may be justified. The coin’s entry into the market was tumultuous, skyrocketing from $1.21 to $75.35 within its first two days, reaching a total market cap of $14 billion. But the coin’s price began to plummet soon after, and it has lost 90% of its value since Jan. 19. The token’s price now sits at $8.28.

投资者对特朗普的纪念物的焦虑可能是有道理的。硬币的进入市场是动荡的，在头两天内从1.21美元上涨至75.35美元，达到了140亿美元的总市值。但是硬币的价格不久之后就开始下降，自1月19日以来，它的价值损失了90％。代币的价格现在为8.28美元。

In the aftermath of the launch, investors lost more than $2 billion, according to an analysis by Chainalysis for The New York Times. Meanwhile, Trump-affiliated entities have produced $350 million in revenue from trading fees and selling the token itself, according to an analysis conducted by the Financial Times.

纽约时报的链分析分析显示，在发布后，投资者损失了超过20亿美元。同时，根据《金融时报》进行的一项分析，与特朗普相关的实体从交易费用获得了3.5亿美元的收入，并出售了代币本身。

According to the memecoin’s website, two Trump-affiliated entities—CIC Digital and Fight Fight Fight—will own 80% of the 1 billion total $Trump tokens once they are all unlocked in 2028. That would mean, at its current price, Trump’s team stands to walk away from the project with a profit in the billions of dollars.

根据Memecoin的网站，两个特朗普附属实体（CIC Digital and fight战斗）将在2028年全部解锁10亿美元的$特朗普代币中拥有80％。

It's unclear how much of the token Trump and his family own directly, if at all.

目前尚不清楚特朗普和他的家人有多少直接的，如果有的话。