A large value on an unlock calendar can make you wonder whether it will all be sold that day. An unlock removes conditions restricting token transfers; it does not itself mean a sale. Examine who can receive how much, and when they can use it.
Terms to distinguish
- Lockup: Restrictions on token transfers or similar actions until a specified period or condition.
- Vesting: A schedule under which rights become established or tokens become receivable as time passes or conditions are met.
- Cliff: The first release point after an initial waiting period.
- Linear vesting: Release at a steady rate over a period. Actual claim intervals depend on the contract.
- Unlock: The removal of transfer restrictions. Projects may use different reporting scopes.
Read quantities alongside percentages
A release of 10 million tokens is 10% of a circulating supply of 100 million, but only 0.1% of a 10 billion supply. Since the value of an unlock changes with market prices, look at token quantities and the percentage of circulating supply together.
Check whether recipients are the team, early investors, ecosystem grants or user rewards. The time tokens become available, the time they are actually claimed into a wallet and the time they enter circulating-supply statistics can differ.
How to read an unlock calendar
- Check the allocation table and latest schedule in the project's official documents.
- Check whether release is all at once or in stages, and which time zone applies.
- Compare with current circulating supply and check when the information was updated.
- Where possible, compare the vesting contract with actual transfers involving recipient addresses.
A public contract does not necessarily reveal separate wallets or every agreement made in documents. Do not infer selling volume or price direction from an unlock alone; separate confirmed schedules from estimates. The percentages here are hypothetical examples explaining how to read a schedule.
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