Over $790M worth token unlocks scheduled for May Over $790M worth token unlocks scheduled for May
Optimism will release the largest amount on May 31 with over $329 million worth of tokens. Avalanche and BitDao follow as second and third.
2 min read
Updated: May. 17, 2023 at 2:34 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
There are 21 token unlocks scheduled during May, which will release over $794 million worth of tokens into circulation in total, according to Token Unlocks data.
Optimism (OP) will host the largest unlock worth $329 million, according to the Token Unlocks numbers. Avalanche (AVAX) and BitDAO (BIT) follow with the second and third largest unlocks with $162 million and $92 million, respectively.
The top three
On the last day of the month, OP will release 154,618,822.65 tokens, which comprise 3.6% of the total OP supply. The amount equates to $330,884,280 at the time of writing, which accounts for around 41% of the total value scheduled to unlock.
Three days before the OP unlock, on May 28, AVAX will unlock 1.325% of its total supply, which equates to 9,541,800 tokens. With the current AVAX trading price, the project seems like it will add $163,164,780 worth of tokens into circulation.
The third largest unlock of the month will be held by BIT on May 15. The project will release nearly 2% of its total supply. A total of 187,499,999.36 tokens will be unlocked, which equates to $92,828,062 at the time of writing.
Other unlocks
The first unlock of the month will come from 1inch Network (1INCH) on May 1, and the project will release nearly $10,000 worth of tokens into circulation. NYM (NYM) and JOE (JOE) will unlock on the same day, May 3. NYM will release over 73 million tokens, equating to over $16 million, while JOE will unlock over 108 million daily, worth almost $50 million.
May 5 will see two unlocks from Liquity (LQTY) and Galxe (GAL) worth over $1.1 million and $13.2 million, respectively. On May 7, Tornado Cash (TORN) will unlock 1.75% of its total supply — equating to 175,000 tokens that are currently worth over $1 million.
GMX (GMX) and dYdX (DYDX) scheduled their unlocks on May 9. GMX’s unlock period will release over $28,000 worth of tokens daily, while DYDX will unlock over 6 million tokens currently valued at over $16 million.
Euler (EUL), MoonBeam (GLMR), Aptos (APT), and Sweat Economy (SWEAT) will hold their unlocks on May 10, 11, 12, and 13, respectively. EUL will unlock over $300,000, while GLMR will release over $70,000 worth of tokens daily until it adds up to over $4 million. APT and SWEAT will release over $46 million and $1 million worth of tokens, respectively.
On May 17 and 18, ApeCoin (APE) and Oasis Network (ROSE) are expected to unlock over $60 million and $12 million worth of tokens, respectively. Immutable X (IMX) will release over 18 million tokens on May 20, which equates to over $17 million at the time of writing.
Acala (ACA) will release another $405,783 worth of tokens on May 25, while Ronin (RON) and Yield Guild Games (YGG) are set to unlock over $14 million and $3 million worth of tokens on May 27, respectively.
Mentioned in this article
Optimism 
Avalanche 
BitDAO 
1inch 
JOE 
Liquity 
Galxe 
Tornado Cash 
GMX 
dYdX (Native) 
Euler 
Moonbeam 
Aptos 
Sweat Economy 
ApeCoin 
Oasis Network 
Immutable 
Acala Token 
Ronin 
Yield Guild Games Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
Editor Editor 
Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance.
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In this article
Optimism is a layer-2 scaling network for the Ethereum blockchain.
Avalanche
$34.9022
Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services.
BitDAO
$1.16223
BitDAO is a decentralized autonomous organization that wants to level the playing field for every person in the world by building a decentralized token economy.
1inch
$0.41565
1inch is a decentralized exchange (DEX) aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes.
JOE
$0.51564
JOE is a governance token that also rewards its holders with a share of exchange revenues.
Liquity
$1.01263
Liquity is a decentralized borrowing protocol built on Ethereum that utilizes LQTY, a USD-pegged stablecoin.
Galxe
$3.70519
Galxe (previously Project Galaxy) is a leading Web3 credential data network and was launched on April 28, 2022, on Binance Launchpool.
Tornado Cash
$2.30626
Tornado Cash is a decentralized, non-custodial privacy solution built on Ethereum.
GMX
$28.7048
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.
dYdX (Native)
$2.29076
DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol.
Euler
$4.70775
Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third party.
Moonbeam
$0.30927
Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot.
Aptos
$9.46852
Aptos is an FTX-backed layer-1 blockchain which was developed by ex-Meta employees.
Sweat Economy
$0.00913
Sweatcoin is a highly popular mobile fitness app that was first launched in 2016.
ApeCoin
$1.23027
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
Oasis Network
$0.09864
The Oasis Network is a privacy-enabled blockchain platform for open finance and a responsible data economy.
Immutable
$2.05412
Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum.
Acala Token
$0.11097
Acala is an all-in-one decentralized finance network offering a blockchain platform.
Yield Guild Games
$0.86096
Yield Guild Games (YGGs) is a decentralized autonomous organization (DAO) that invests in virtual world non-fungible tokens (NFTs).
