Major token unlocks and EOS update. The main events of October

Major token unlocks and EOS update. The main events of October

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Author: Liam Miller
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Major token unlocks and EOS update. The main events of October

October will see several important events for cryptocurrencies, including conferences, important technical updates to projects, and millions of dollars worth of token unlocks


 

Several events will take place in October 2023 that could affect both the value of individual cryptocurrencies and the market as a whole.

 

  • ETHMilan conference in Italy

Milan will host a large-scale two-day conference dedicated to the application of Ethereum and Web3 sphere technologies. The event brings together experts, developers, and investors to discuss the latest trends, cutting-edge research, and innovations in blockchain, decentralized finance, smart contracts, privacy, and more.

The conference will feature keynotes, panel discussions, and networking sessions with speakers from ConsenSys, Binance, Trust Wallet, Polygon, DFINITY, Dapper Labs (blockchain FLOW), Chainlink, and investment fund Paradigm, among others.

 

  • An important vote for Optimism (OP)

Members of Optimism Collective, a decentralized autonomous organization, will vote on the creation of a Security Council.

The plan is to transfer admin keys for the Optimism core network to a public decentralized group of participants (participants) reporting to the DAO. No party will be able to modernize the system or censor transactions. The Council implements approved decisions on network modernization made by the management, but will not make decisions independently. According to the developers' idea, this will make the network more decentralized.

  • Unlocking Aptos Tokens (APT)

Aptos blockchain developers will unlock ("unlock") 4.5 million APT tokens (about $26 million at the October 5 exchange rate) on October 12, representing 1.91% of the total circulating token supply. According to TokenUnlocks, about $18.4 million in tokens will be received by the community, with another $7.6 million in APT going to the Aptos Foundation.

In September, Aptos developers unlocked 4.5 million tokens. After the "unlock," the APT token rose in price by more than 7% in seven days, from $5.00 to $5.36.

 

  • Launch of the new version of EOS virtual environment

On October 16, EOS developers announced the launch of EOS EVM version 0.6.0.

According to their idea, this update not only brings significant technical improvements to the basic EVM infrastructure but also offers a new set of features to empower the decentralized finance (DeFi) ecosystem available to EOS users.

The creators of the project name the most eagerly awaited element of the future release as the ability for users to transfer USDT from the EOS Native network to EOS EVM via a bridge without intermediary services.

 

  • Axie Infinity (AXS) token unlocking

According to TokenUnlocks, a major "unlock" of AXS, the control token of the blockchain-based NFT game Axie Infinity, will take place on October 20. The Axie Infinity team will issue 15.1 million AXS worth about $71.8 million, representing 11.5% of the circulating supply.

The majority of the funds ($28.9 million) will go to the project's team, $16.3 million will be allocated for staking rewards, $16 million for in-game payments, $8 million will go to the ecosystem fund, and $2.6 million will be allocated for payments to the project's advisors.

After the last "unlock" of 3.4 million AXS tokens ($16.3 million) in July, the token's price fell almost 10% within a few days, from $6.54 to $5.94.

 

  • Optimism (OP) tokens unlocked

According to TokenUnlocks, Optimism developers will "unlock" 24.2 million OP tokens ($35.3 million) on October 30. This will amount to 3% of the circulating supply. About $18.6 million will go to core developers, and another $16.7 million is intended for investors.

Since the last unlock on September 30, the OP token has risen in value by 8%, while after the "unlock" in August, the OP rate fell by 12%. In September, the project's developers sold $162 million worth of OP tokens in a private transaction for "treasury management purposes." In September, the developers also distributed the balance of unclaimed funds from the first airdrop and announced a new $26 million distribution.

 

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