In the ever-evolving landscape of the cryptocurrency market, the token unlock events have become a pivotal moment for both projects and investors alike. In this blog post, we delve into two distinct token unlock events scheduled for December 2023 – one by STEPN for its GMT tokens and the other by Liquidity Network for its LQYT tokens.
Whether you’re a seasoned crypto enthusiast or just starting to navigate the blockchain waters, this blog post aims to provide valuable insights into the fascinating world of token economics.
GMT Token Unlock
STEPN is a Web3 lifestyle app with GameFi features on the Solana blockchain. It’s a mix of a play-to-earn game and a fitness app, creating a new category called “move-to-earn.” In this app, users purchase NFT sneakers to earn in-game currency while walking, running, or jogging.
The goal of STEPN is to change the fitness app market by motivating millions of users to adopt a healthier lifestyle. It tackles issues like proving that users actually exercised (proof of movement) and having a working GPS system. Additionally, STEPN financially rewards users and plans to introduce social rewards, contributing to carbon neutrality.
As of now, GMT is priced at $0.2688. It has a market cap of $371,622,270 with a circulatory supply of 1,382,428,690 GMT. STEPN has a dual-token system featuring a utility token named GST and a governance token known as GMT. GST is the app’s currency earned through movement and has an infinite supply. To discourage inflation, it employs various burn mechanisms, including minting or repairing sneakers, upgrading gem levels, and enhancing sneaker levels.
On December 01, 2023, GMT is unlocking 3.22m GMT tokens worth $867.75k. This token unlock event will release tokens for the following stakeholders.
- Private Sale: 1.05 million GMT tokens ($281.55k)
- Advisors: 212.90k GMT tokens ($57.35k)
- Move and Earn: 821.17k GMT tokens ($221.21k)
- Team: 561.29k GMT tokens ($151.21k)
- Ecosystem/Treasury: 580.65k GMT tokens ($156.42k)
There are 4.00b(66.74) GMT tokens that are totally locked, while 1.97b GMT tokens(32.79%) are unlocked for now. However, a great number of 28.13m(0.47%) GMT tokens are untracked.
On the previous token unlock event, which happened to be on 01 Nov 2023, GMT unlocked 3.30m GMT tokens worth $889.30k. It is important to point out the price difference from the previous launch event till this date. On the previous token unlock event, GMT was valued at $0.1815, but currently, GMT is securing its value at $0.02694. So, the percentage drop in price from $0.1815 to $0.02694 is approximately 85.16%. This raises various questions regarding the future price of GMT tokens after this unlock event.
LQTY Token Unlocks
Liquidity Network functions as a Layer 2 solution, essentially a secondary protocol built upon the secure side-chain NOCUST. A side chain is an independent blockchain connected to another blockchain, operating autonomously. The primary goal of Liquidity Network is to enhance decentralized blockchains through secure off-chain transactions, providing users with swift, gas-free token swaps and transfers. Additionally, the platform supports developers in constructing scalable Dapps and facilitating micropayments.
The utility token of Liquidity Network is LQD, adhering to the ERC-20 token standard. LQD serves as payment for services within the Liquidity Network ecosystem. Furthermore, the token is designed for interaction among stakeholders in the Liquidity Network ecosystem.
At the time of writing, LQYT is valued at $1.39. It has a market cap of $131,140,856 with a circulatory supply of 94,401,561 LQTY, i.e., 94.40% of the total supply(100 Million).
On December 05, 2023, Liquity’s LQYT is unlocking 657.35k LQYT tokens worth $913.72 into the crypto market. This unlock event will cover 0.70% of the circulatory supply. This token unlock event will grant 657.35 tokens to the team and advisors.
The previous token unlock event also unlocked 657.35k LQYT tokens worth $913.72. It was also allocated to the Team and Advisors. However, given the previous unlock event, LQYT dropped its value from $1.79 to $1.39. So, the percentage drop in price from $1.79 to $1.39 is approximately 22.35%.
Conclusion: What Lies Ahead
In wrapping up, let’s peek into the future for both GMT and LQYT tokens.
For GMT Tokens: A Bumpy Ride
GMT took a hit in value, but STEPN’s evolving features could turn the tide. The dual-token system and smart burn moves hint at a potential comeback.
For LQYT Tokens: Staying Strong
LQYT faced a dip, but Liquidity Network’s resilience shines. Secure transactions and a diverse ecosystem hint at a robust future.
In the crypto game, predicting the future is tricky. As GMT and LQYT tokens step into the crypto scene, their path—whether rebounding, holding, or something new—is a story we’ll keep a close eye on. The next chapters are yet to unfold, and the crypto journey is always full of surprises. Stay tuned for what’s next for GMT and LQYT tokens!
