Token Unlocks Overview

Messari's Token Unlocks allows users to easily explore, compare, and analyze token unlock data. Key features include initial allocations and vesting schedules, historical unlocks overlayed with a price chart, separate categories for Cliff Unlocks versus Daily Emissions, Messari AI-generated insights, and allocation analysis on top protocols and sectors.

Messari provides Token Unlocks data on more than 150 tokens. The team regularly adds new tokens to its list of coverage. This page includes a step-by-step guide on getting the most from Messari's Token Unlocks, along with hot tips for success and FAQs collected from Messari users. Be sure to check out the full Video Library for detailed walkthrough videos.

For asset-specific token unlock deep dives, please visit the Token Unlocks section of the asset's Project Page.

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Token Unlocks is currently available for Messari Pro and Enterprise subscribers. Please visit our Pricing page to compare plans or Contact Us if you have any questions.

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Token Unlocks Video

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Access Token Unlocks

Use the top menu to find the Intel tab and select Token Unlocks from the dropdown.

There are two available Views: Unlocks Tracker and Allocation Analysis. Clicking on Token Unlocks from the top menu directs users to the Unlocks Tracker by default.

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Unlocks Tracker

Upcoming Notable Cliffs

The Upcoming Notable Cliffs table provides detailed information about upcoming token cliff unlocks.

Filter the table by a Watchlist or by the Top 100 tokens by Marketcap supported by Messari Token Unlocks using the Filter options at the top.

The table provides important event details, such as the unlock date, number of tokens to be released and their USD equivalent, and % of Current Circulating Supply, for quick review.

Click on a Cliff Unlock event to learn more, such as the % of tokens unlocked before the event has occurred, 7D Pre- and Post-Unlock Prices for the prior unlock, and notable insights generated by Messari AI.

TIP: Click on the token's ticker and price in the event's right-hand corner to access its complete Token Unlocks page (e.g., for CELO).

7D Post-Unlock Performance

The 7D Post-Unlock Performance table provides important information about recent unlock events and the token's performance 7 days post-unlock.

Click on a token's ticker to access its complete Token Unlocks page.

Hover over the token's associated unlock date to see the following metrics:

• The # of tokens to be unlocked, the USD value of the unlock, and the percentage change on the current circ. supply that the unlock will have.
• The unlocks' Allocation breakdown. Categories can include: Community, Ecosystem, Treasury, Marketing, Foundation, Community Airdrop, Developer Incentives, Team, Advisors, Company, Ecosystem Growth, Community Development, Seed Sale, and more.

Cliff Unlocks & Daily Emissions Table

The Cliff Unlocks & Daily Emissions table provides cliff unlock and daily emissions on all of the tokens covered by Messari Token Unlocks. New tokens are added regularly.

Filter the table by Asset, Marketcap, or % Unlocks Completed using the search bar and dropdown filters at the top of the table.

Cliff Unlocks

The Cliff Unlocks tab provides an overview of each covered project's token unlocks progress, next cliff unlock date (if applicable), and more.

It is sorted by Next Cliff Unlock date and provides 7D timespan data by default.

• Click on a column header to sort by that metric or to see additional sorting options:

  

• Adjust the timespan using the Span dropdown (24H, 7D, 30D, 90D, 180D, 1Y).

Metrics include:

• Token Name and Ticker (click on the token's name to access its full Token Unlocks page)
• % Unlocks Completed: The percentage of the tokens allocated to vesting schedules that have been unlocked up to the present date.
• Next Cliff Unlock: The time (in days) until the nearest cliff unlock for the token. The primary value is the USD value of the unlock, and the secondary value is the percentage change on the current circ. supply that the unlock will have. (hover over this metric for an Allocation breakdown).
• Current Price
• Price Change (7D)
• Prior Unlock Amount (Cumulative 7D): Total amount of tokens unlocked over the past timespan
• Next Unlock Amount (Cumulative 7D): Total amount of tokens scheduled to unlock in the specified timespan
• Total Unlocked Amount: Cumulative amount of tokens unlocked since initial release
• Current Circulating Marketcap

Daily Emissions

The Daily Emissions tab covers daily emissions and information on the current and upcoming linear unlock rate.

It is sorted by Next Linear Rate Change date and provides 7D timespan data by default.

• Click on a column header to sort by that metric or to see additional sorting options:

  

• Adjust the timespan using the Span dropdown (24H, 7D, 30D, 90D, 180D, 1Y).

Metrics include:

• Token Name and Ticker (click on the token's name to access its full Token Unlocks page)
• % Unlocks Completed: The percentage of the tokens allocated to vesting schedules that have been unlocked up to the present date.
• Daily Unlocks: The current daily unlocks occurring for the token.
• Next Linear Rate Change: This column shows the time (in days) until the daily linear unlock rate of a token changes. The value to the left of the arrow is the USD equivalent of the current daily unlock rate for the token, and the value to the right is the USD equivalent of the new rate it will change to. The percentage is the change between the two. Hovering will show the rate changes broken up by allocation category.
• Current Price
• Price Change (7D)
• Current Circulating Marketcap

Allocation Analysis

Messari Token Unlock's Allocation Analysis provides standardized allocation across ten top Layer-1 networks and five sectors to better identify trends in allocation strategies and their association with token performance.

Allocations are broken down into the following categories:

• Public Sale: Includes all sales that are open to public participation.
• Foundations & More: Tokens that are allocated to foundations, DAOs, and community-governed grant proposals.
• Insiders: Includes all team, company, advisors, and VC purchased tokens.
• Community Allocations: Ecosystem funds, incentives, or airdrops that will eventually go to the community.

Hover over each chart to see the percentage of tokens allocated to each category.

Top Networks

The Analysis provides a breakdown of supply distributions across ten leading networks:

• Ethereum
• Solana
• Binance Smart Chain (BNB)
• TRON
• Sui
• NEAR
• Aptos
• Algorand
• Injective Protocol
• Sei

Sectors

Discover a breakdown of how different sectors, on average, structure their token allocations. Sectors data is based on real-time data from the 150+ projects covered in Messari Token Unlocks. Allocations are calculated based on market-weighted percentages and cover Smart Contract Platforms, Exchanges, Lending, Interoperability, and Real World Assets.

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Token Unlocks by Asset

Selecting an asset in the Token Unlocks table will take you to the Token Unlocks section of the asset's Project Page (e.g., Pendle).

The Token Unlocks page allows users to explore and analyze token unlock data, including initial allocations, vesting schedules, and upcoming unlock events.

Visit the Project Page: Token Unlocks guide to learn more.

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Token Unlocks: Data Collection Process

Messari collects Token Unlocks data from primary sources such as whitepapers, blogs, websites, and other protocol documents.

These are listed on the project's Token Unlocks page (e.g., Sui Token Unlocks) in the Vesting Description table. You can find this table under the Vesting Schedule, and sources are provided in the the Source column.

The data is then checked for quality assurance using two methods:

1. Comparison to other third-party sources (e.g., DefiLlama, token.unlocks, CryptoRank, Dune, etc.). Differences in data between Messari and other sources may be due to assumptions made on vesting schedules when there is ambiguity or a lack of information. These are stated in the Vesting Description table under the “Assumptions” column.
2. Messari’s Protocol Services analysts have relationships with many teams and will look to confirm the accuracy directly with the Protocol when applicable.

Note: Currently, we do not actively monitor/track vesting schedules that are smart contract-based. In some instances, we may verify that the data listed in the primary source has historically followed the smart contract activity, but this is not continuously monitored.

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Token Unlocks Hot Tips & Best Practices

• Use Messari's Key Developments Alerts to schedule real-time notifications for token unlock information. As found in the Messari Classification System, there is a Category for Token Supply and a Subcategory for Supply Unlock.
• Hover over column values to view more detailed information, such as the allocation categories.
• Cross-check data by referring to the "Assumptions" column in the Vesting Description table to understand potential differences in data from other sources.

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Token Unlocks FAQs

What is the difference between a Cliff Unlock and a Daily Emission?

Cliff Unlocks release tokens in a lump sum on a specified date, while Daily Emissions (Linear) Unlocks release tokens gradually over time. The Linear Rate Change event highlights the changing of the linear rate at which the tokens are released.

How does Messari gather Token Unlocks data?

Messari collects Token Unlocks data from primary sources such as whitepapers, blogs, websites, and other protocol documents. These are listed on the Vesting Description table under the “Source” column.

Does Messari monitor smart contract-based vesting schedules?

Analysts might verify that the data listed in the primary source has historically followed the smart contract activity, but this is not continuously monitored.

How can I learn more about Token Unlock events across Messari's platform?

Learn more about Token Unlock events across Messari's suite of features and tools:

• Token Unlocks: Explore the Unlocks Tracker for a quick reference to upcoming notable cliff unlocks, 7D post-unlock price performance for recent cliff unlocks, and a tabulated view of relevant metrics on all cliff unlocks and daily linear rate change events. The Allocation Analysis view offers insights on how leading networks structured their supply distributions and how different sectors, on average, structure their token allocations.
• Asset-specific Token Unlocks: An asset's Token Unlocks page allows users to explore and analyze specific metrics including initial allocations, vesting schedules, historical unlocks overlayed with a price chart, and upcoming unlock events. Visit an asset's Project Page, then look for Token Unlocks in the left-side menu (e.g., Sui's Token Unlocks).
• Key Developments: Enterprise users can filter the Notable Events table to see Token Unlock events for a certain asset or watchlist using the Token Supply Category and/or Supply Unlock Subcategory. They can also schedule real-time notifications for these events. Additional token-related Categories and Subcategories are available, and users can learn about these and other categories in the Messari Classification System.
• News: Discover token unlock-related news on Messari's live Newsfeed using the Token Supply Category and/or Supply Unlock Subcategory. This includes a bullet point summary generated by Messari AI, as well as a link to the full article. The curated summary allows you to save time by quickly reviewing an article's contents.
• Ask Copilot: Messari Copilot integrates Messari Token Unlock data, as well as numerous other Messari datasets, to provide rich, useful answers to your crypto-specific questions. Learn more about Messari's premiere AI assistant, or try it out for yourself!

Can I retrieve Token Unlock schedules through an API endpoint?

Yes! Please refer to Messari's Token Unlocks API documentation for additional information. Schedule a conversation with a member of our Enterprise team to learn more.