Space ID to Unlock 18% of Token Supply on June 22, 2024

Space ID, a universal name service network and identity platform for Web3 domains, is set to unlock over $55 million worth of ID tokens on June 22, 2024, according to data from Token Unlocks. This release constitutes 18% of its circulating supply.

Token unlocks manage the emission of tokens over time, ensuring a controlled release into the market. This method helps maintain token stability and value by avoiding sudden changes in supply.

The upcoming unlock from Space ID will distribute approximately 78 million ID tokens among eight groups: ecosystem fund, foundation, seed sale, strategic sale, community airdrop, marketing, team, and advisors.

In addition to Space ID, other projects with significant releases this month include Arbitrum (ARB), Starknet (STRK), and Optimism (OP).

Starknet plans to distribute 64 million STRK tokens, valued at nearly $75 million, to early contributors and investors on June 15. This release 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 go to the team, advisors, and investors.

Optimism will unlock 31.34 million OP tokens, valued at around $77 million, on June 30. This release represents 2.8% of the token supply.

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