SpaceID is set to launch an 18% token offering this month.
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Space ID, a universal name service network and one-stop ID platform for Web3 domains, will unlock more than $55 million worth of ID tokens on June 22, 2024, according to data from OpenToken. This represents 18% of the circulating supply.
Token launches are used to regulate the release of tokens over time, ensuring a constant and controlled flow of new tokens to the market. This approach helps protect the stability and value of the tokens by preventing sudden increases or drops in supply.
SpaceID's soon-to-be-launched ecosystem will distribute nearly 78 million IDs to eight groups, including funds, foundations, seed sales, strategic sales, community airdrops, marketing, teams and advisors.
In addition to SpaceID, Arbitrum (ARB), Starknet (STRK) and Optimism (OP) are also projects with major releases this month.
Starknet is going to distribute 64 million STRK tokens worth around $75 million to early contributors and investors. This token release is scheduled for June 15 and represents a 5.6% distribution of the offering.
Arbitrum will release more than 92 million ARB tokens, worth around $104 million, on June 16. These tokens, covering 3.2% of ARB's supply, will be allocated to the team, advisors and investors.
Optimism opens on June 30 with 31.34 million, around $77 million. This opening represents 2.8% of the token supply.
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