I took a deep dive into the token unlock schedule for #Bedrock , and my biggest takeaway can be summed up in two words: stay alert.
According to public data, on June 20, there will be a massive cliff unlock for the founding team, releasing about 40.625 million $BR tokens all at once. A cliff unlock and linear release are completely different concepts; a large influx of tokens into circulation in a short time is bound to put pressure on the market.
What's even more concerning is the historical context. On March 20, approximately 121 million BR tokens were unlocked, which accounted for nearly 68% of the circulating supply at that time, leading to noticeable price volatility. The current team holds 20%, strategic investors 20%, and seed round investors 12.5%, making a total of over half, indicating a high concentration of tokens.
Now, let's take a look at the much-discussed veBR locking rewards. External promotions often mention an annualized return of 15%-20%, but the official documents reveal a range closer to 5%-12%. Even if we consider the top-end returns, the quarterly payoffs are quite limited.
Here's the issue: retail investors lock up their tokens for a few months to earn a few percentage points, but the selling pressure from unlocks could easily wipe out those gains in a short time.
Governance rights and yield boosts sound enticing, but when faced with the real release of circulating tokens, the market ultimately focuses on supply and demand dynamics.
At least until the token structure and unlock arrangements become more transparent, I won't be easily tempted to participate in long-term locking for just a few points of return.
#Bedrock #BR @Bedrock $BR
According to public data, on June 20, there will be a massive cliff unlock for the founding team, releasing about 40.625 million $BR tokens all at once. A cliff unlock and linear release are completely different concepts; a large influx of tokens into circulation in a short time is bound to put pressure on the market.
What's even more concerning is the historical context. On March 20, approximately 121 million BR tokens were unlocked, which accounted for nearly 68% of the circulating supply at that time, leading to noticeable price volatility. The current team holds 20%, strategic investors 20%, and seed round investors 12.5%, making a total of over half, indicating a high concentration of tokens.
Now, let's take a look at the much-discussed veBR locking rewards. External promotions often mention an annualized return of 15%-20%, but the official documents reveal a range closer to 5%-12%. Even if we consider the top-end returns, the quarterly payoffs are quite limited.
Here's the issue: retail investors lock up their tokens for a few months to earn a few percentage points, but the selling pressure from unlocks could easily wipe out those gains in a short time.
Governance rights and yield boosts sound enticing, but when faced with the real release of circulating tokens, the market ultimately focuses on supply and demand dynamics.
At least until the token structure and unlock arrangements become more transparent, I won't be easily tempted to participate in long-term locking for just a few points of return.
#Bedrock #BR @Bedrock $BR