Space ID, a universal name service network and one-stop identity platform for Web3 domains, is expected to unlock over $55 million worth of ID tokens on June 22, 2024, according to data from Token Unlocks. This represents 18% of its circulating supply.
Token unlocks are often used to manage the emission of tokens over time, ensuring a steady and controlled release of new tokens into the market. This approach helps maintain the stability and value of the tokens by preventing sudden surges or drops in supply.
Space ID’s upcoming unlock will distribute around 78 million ID tokens to eight groups, including ecosystem fund, foundation, seed sale, strategic sale, community airdrop, marketing, team, and advisors.
Apart from Space ID, Arbitrum (ARB), Starknet (STRK), and Optimism (OP) are projects with major releases this month.
Starknet is set to distribute 64 million STRK tokens, valued at almost $75 million, to early contributors and investors. This token release is scheduled for June 15 and represents 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, equivalent to around $77 million, on June 30. This unlock represents 2.8% of the token supply.
