Zai Adjusts Token Unlock: 198 Million XAI Reduced to 117 Million XAI

IconCryptoNewsTerminal Staff08 Jul, 2024

cryptonews.jpg

Zai Adjusts Token Unlock: 198 Million XAI Reduced to 117 Million XAI

The Arbitrum-based Layer 3 network for games, Zai (XAI), recently announced an adjustment to its upcoming token unlock scheduled for July 9, 6:30 PM (KST). According to an official Medium post, XAI contributors have agreed to re-lock their July unlocked tokens over six months. This action will reduce the July unlocked team tokens from 85 million XAI to 17.7 million XAI, bringing the total unlocked tokens to 117.9 million XAI. This represents approximately 36% of the current circulation of about 300 million XAI. Initially, around 198.4 million XAI (71.59% of the circulating supply) was expected to be unlocked on July 9, 6:30 PM. However, the adjustment reduces the unlocked amount by 80.5 million XAI, potentially impacting the market dynamics around the token. Zai aims to provide a robust platform for game developers, offering tools and services to enhance gaming experiences. The network has recently gained attention due to its focus on interoperability and scalability. This token unlock adjustment could influence the project's trajectory and investor sentiment.

Related News