Liquid staking protocol Lido (LDO), the Avalanche Blockchain native token (AVAX), and the token behind the Yield Guild Games DAO (YGG) are all scheduled to implement token unlocks this week, increasing the supply of the tokens available in the market.
Token unlocks are staggered releases of coins previously frozen to prevent early investors or project team members from liquidating their holdings in large numbers.
Lido DAO (LDO) Unlock
The governance token for the liquid staking platform Lido (LDO) is scheduled to unlock 8.5 million LDO tokens on Aug. 26, valued at $14.2 million, and equating to roughly 0.97% of the supply.
All 8.5 million tokens will be distributed to investors, who are already holding more than 300 million tokens coins, according to Token Unlocks.
Lido’s LDO token has declined 8.5% during the last week, and has been relatively stable in the last 24 hours, according to CoinDesk data.
Avalanche Token (AVAX) Unlock
AVAX's unlock will be split between the strategic partners, who get 2.25 million, or $24.21 million worth, the Foundation, which gets 1.67 million tokens, the team, which is allocated 4.5 million tokens, or $48.42 million, and airdrop participants which get 1.13 million tokens.0
AVAX is down 13% during the last week, according to CoinDesk market data, and is down 1.8% on-day.
Yield Guild Games (YGG) Token Unlock
YGG is scheduled to release 12.2 million YGG ($2.87 million) on Sunday, total 6.6% of the cryptocurrency's circulating supply. Currently, about 30% of the token’s supply has been unlocked.
