The crypto market will have to absorb another series of unlocks valued at over $1B. LayerZero will lead the cliff unlocks in the week of October 20 to October 26.  The crypto market will have to face $1.01B in weekly unlocks, following the previous week’s inflows of $1.02B in newly released tokens.  Cliff unlocks are also significant, reaching $188.74M in addition to the more predictable linear unlocks. The bulk of unlocks come from regular token production, as well as tokens with predictable vesting schedules. LayerZero leads cliff unlocks LayerZero (ZRO) expects an unlock of $44.73M in new tokens, representing 23.2% of the supply. Ahead of the unlock, ZRO traded near a three-month low at $1.77.  The coming week will add over $1B in new unlocks, with notable cliff unlocks for several top projects. | Source: Tokenomist ZRO entered a period of more active unlocks for strategic partners and core contributors, with more community unlocks starting in November. Core contributors will receive 10.63M tokens, while strategic partners will get 13.42M tokens.  The project has also repurchased 1.67M tokens, valued at $2.9M. ZRO is only 33% unlocked, expecting regular token inflows until 2027. Plasma’s XPL expects another cliff unlock Plasma is the other notable project to unlock $36.88M tokens or 4.6% of its supply. Ahead of the unlock, XPL traded at $0.41, down from its recent local highs of $1.63 at the end of September.  The XPL unlock is expected on October 25, as the project has so far only unlocked 18% of its supply.  Plasma is still distributing its investors’ and public sale tokens. The unlocks for investors and team members will not start until September 2026.  Two more cliff unlocks are expected in the coming week – Multibank Group (MBG), adding 19.1% to its supply. The unlock on October 22 will add 15.48M tokens, valued at around $17.33M, in mixed unlocks for ecosystem growth and marketing.  SOON will unlock another 5.7% of its supply, valued at $14.43M. The token is 34% unlocked and now enters the steepest phase of inflows to the market. SOON will have the most diverse unlock, with airdrops for NFT holders, liquidity, incentives, and general ecosystem growth unlocks. WLD, TRUMP among highest linear unlocks Based on value, BTC, SOL and ETH production put the biggest pressure on the market. However, Worldcoin (WLD) and Official Trump (TRUMP) will be the notable linear unlocks for the coming week.  WLD will add $4.94M worth of tokens, while TRUMP will add $4.18M. Linear unlocks typically do not cause market panic, but they steadily add to a token’s inflation.  Additionally, AVAX will release $2M worth of tokens. IP will have $1.92M unlock for the coming week, and ASTER will add $1.75M worth of tokens to the market.  Other recurring unlocks include EthFi ($1.34M), TIA ($1.21M), DOT ($1.01M).  Meteora leads new project token unlocks Meteora is an outlier in the coming week, based on additional data from Cryptorank. Meteora’s newly released MET token expects its large-scale TGE unlock, which will release 43% of the total supply on the open market.  The unlock will be valued at $454.84M, making up over 86% of the MET market cap. MET is still in price discovery mode, and the TGE unlock may dramatically shift its valuation. MET still has no price discovery mechanism, and the unlock will coincide with the start of trading. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.The crypto market will have to absorb another series of unlocks valued at over $1B. LayerZero will lead the cliff unlocks in the week of October 20 to October 26.  The crypto market will have to face $1.01B in weekly unlocks, following the previous week’s inflows of $1.02B in newly released tokens.  Cliff unlocks are also significant, reaching $188.74M in addition to the more predictable linear unlocks. The bulk of unlocks come from regular token production, as well as tokens with predictable vesting schedules. LayerZero leads cliff unlocks LayerZero (ZRO) expects an unlock of $44.73M in new tokens, representing 23.2% of the supply. Ahead of the unlock, ZRO traded near a three-month low at $1.77.  The coming week will add over $1B in new unlocks, with notable cliff unlocks for several top projects. | Source: Tokenomist ZRO entered a period of more active unlocks for strategic partners and core contributors, with more community unlocks starting in November. Core contributors will receive 10.63M tokens, while strategic partners will get 13.42M tokens.  The project has also repurchased 1.67M tokens, valued at $2.9M. ZRO is only 33% unlocked, expecting regular token inflows until 2027. Plasma’s XPL expects another cliff unlock Plasma is the other notable project to unlock $36.88M tokens or 4.6% of its supply. Ahead of the unlock, XPL traded at $0.41, down from its recent local highs of $1.63 at the end of September.  The XPL unlock is expected on October 25, as the project has so far only unlocked 18% of its supply.  Plasma is still distributing its investors’ and public sale tokens. The unlocks for investors and team members will not start until September 2026.  Two more cliff unlocks are expected in the coming week – Multibank Group (MBG), adding 19.1% to its supply. The unlock on October 22 will add 15.48M tokens, valued at around $17.33M, in mixed unlocks for ecosystem growth and marketing.  SOON will unlock another 5.7% of its supply, valued at $14.43M. The token is 34% unlocked and now enters the steepest phase of inflows to the market. SOON will have the most diverse unlock, with airdrops for NFT holders, liquidity, incentives, and general ecosystem growth unlocks. WLD, TRUMP among highest linear unlocks Based on value, BTC, SOL and ETH production put the biggest pressure on the market. However, Worldcoin (WLD) and Official Trump (TRUMP) will be the notable linear unlocks for the coming week.  WLD will add $4.94M worth of tokens, while TRUMP will add $4.18M. Linear unlocks typically do not cause market panic, but they steadily add to a token’s inflation.  Additionally, AVAX will release $2M worth of tokens. IP will have $1.92M unlock for the coming week, and ASTER will add $1.75M worth of tokens to the market.  Other recurring unlocks include EthFi ($1.34M), TIA ($1.21M), DOT ($1.01M).  Meteora leads new project token unlocks Meteora is an outlier in the coming week, based on additional data from Cryptorank. Meteora’s newly released MET token expects its large-scale TGE unlock, which will release 43% of the total supply on the open market.  The unlock will be valued at $454.84M, making up over 86% of the MET market cap. MET is still in price discovery mode, and the TGE unlock may dramatically shift its valuation. MET still has no price discovery mechanism, and the unlock will coincide with the start of trading. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.

LayerZero leads cliff unlocks as market preps to absorb $1B in new tokens this week

2025/10/20 21:19

The crypto market will have to absorb another series of unlocks valued at over $1B. LayerZero will lead the cliff unlocks in the week of October 20 to October 26. 

The crypto market will have to face $1.01B in weekly unlocks, following the previous week’s inflows of $1.02B in newly released tokens. 

Cliff unlocks are also significant, reaching $188.74M in addition to the more predictable linear unlocks. The bulk of unlocks come from regular token production, as well as tokens with predictable vesting schedules.

LayerZero leads cliff unlocks

LayerZero (ZRO) expects an unlock of $44.73M in new tokens, representing 23.2% of the supply. Ahead of the unlock, ZRO traded near a three-month low at $1.77. 

ZRO leads cliff unlocks in the coming weekThe coming week will add over $1B in new unlocks, with notable cliff unlocks for several top projects. | Source: Tokenomist

ZRO entered a period of more active unlocks for strategic partners and core contributors, with more community unlocks starting in November. Core contributors will receive 10.63M tokens, while strategic partners will get 13.42M tokens. 

The project has also repurchased 1.67M tokens, valued at $2.9M. ZRO is only 33% unlocked, expecting regular token inflows until 2027.

Plasma’s XPL expects another cliff unlock

Plasma is the other notable project to unlock $36.88M tokens or 4.6% of its supply. Ahead of the unlock, XPL traded at $0.41, down from its recent local highs of $1.63 at the end of September. 

The XPL unlock is expected on October 25, as the project has so far only unlocked 18% of its supply. 

Plasma is still distributing its investors’ and public sale tokens. The unlocks for investors and team members will not start until September 2026. 

Two more cliff unlocks are expected in the coming week – Multibank Group (MBG), adding 19.1% to its supply. The unlock on October 22 will add 15.48M tokens, valued at around $17.33M, in mixed unlocks for ecosystem growth and marketing. 

SOON will unlock another 5.7% of its supply, valued at $14.43M. The token is 34% unlocked and now enters the steepest phase of inflows to the market. SOON will have the most diverse unlock, with airdrops for NFT holders, liquidity, incentives, and general ecosystem growth unlocks.

WLD, TRUMP among highest linear unlocks

Based on value, BTC, SOL and ETH production put the biggest pressure on the market. However, Worldcoin (WLD) and Official Trump (TRUMP) will be the notable linear unlocks for the coming week. 

WLD will add $4.94M worth of tokens, while TRUMP will add $4.18M. Linear unlocks typically do not cause market panic, but they steadily add to a token’s inflation. 

Additionally, AVAX will release $2M worth of tokens. IP will have $1.92M unlock for the coming week, and ASTER will add $1.75M worth of tokens to the market. 

Other recurring unlocks include EthFi ($1.34M), TIA ($1.21M), DOT ($1.01M). 

Meteora leads new project token unlocks

Meteora is an outlier in the coming week, based on additional data from Cryptorank. Meteora’s newly released MET token expects its large-scale TGE unlock, which will release 43% of the total supply on the open market. 

The unlock will be valued at $454.84M, making up over 86% of the MET market cap. MET is still in price discovery mode, and the TGE unlock may dramatically shift its valuation. MET still has no price discovery mechanism, and the unlock will coincide with the start of trading.

Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
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Preliminary analysis of the Balancer V2 attack, which resulted in a loss of $120 million.

Preliminary analysis of the Balancer V2 attack, which resulted in a loss of $120 million.

On November 3, the Balancer V2 protocol and its fork projects were attacked on multiple chains, resulting in a serious loss of more than $120 million. BlockSec issued an early warning at the first opportunity [1] and gave a preliminary analysis conclusion [2]. This was a highly complex attack. Our preliminary analysis showed that the root cause was that the attacker manipulated the invariant, thereby distorting the calculation of the price of BPT (Balancer Pool Token) -- that is, the LP token of Balancer Pool -- so that it could profit in a stable pool through a batchSwap operation. Background Information 1. Scaling and Rounding To standardize the decimal places of different tokens, the Balancer contract will: upscale: Upscales the balance and amount to a uniform internal precision before performing the calculation; downscale: Reduces the result to its original precision and performs directional rounding (e.g., inputs are usually rounded up to ensure the pool is not under-filled; output paths are often truncated downwards). Conclusion: Within the same transaction, the asymmetrical rounding direction used in different stages can lead to a systematic slight deviation when executed repeatedly in very small steps. 2. Prices of D and BPT The Balancer V2 protocol’s Composable Stable Pool[3] and the fork protocol were affected by this attack. Stable Pool is used for assets that are expected to maintain a close 1:1 exchange ratio (or be exchanged at a known exchange rate), allowing large exchanges without causing significant price shocks, thereby greatly improving the efficiency of capital utilization between similar or related assets. The pool uses the Stable Math (a Curve-based StableSwap model), where the invariant D represents the pool's "virtual total value". The approximate price of BPT (Pool's LP Token) is: The formula above shows that if D is made smaller on paper (even if no funds are actually withdrawn), the price of BPT will be cheaper. BTP represents the pool share and is used to calculate how many pool reserves can be obtained when withdrawing liquidity. Therefore, if an attacker can obtain more BPT, they can profit when withdrawing liquidity. Attack Analysis Taking an attack transaction on Arbitrum as an example, the batchSwap operation can be divided into three stages: Phase 1: The attacker redeems BPT for the underlying asset to precisely adjust the balance of one of the tokens (cbETH) to a critical point (amount = 9) for rounding. This step sets the stage for the precision loss in the next phase. Phase Two: The attacker uses a carefully crafted quantity (= 8) to swap between another underlying asset (wstETH) and cbETH. Due to rounding down when scaling the token quantity, the calculated Δx is slightly smaller (from 8.918 to 8), causing Δy to be underestimated and the invariant D (derived from Curve's StableSwap model) to be smaller. Since BPT price = D / totalSupply, the BPT price is artificially suppressed. Phase 3: The attackers reverse-swap the underlying assets back to BPT, restoring the balance within the pool while profiting from the depressed price of BPT—acquiring more BPT tokens. Finally, the attacker used another profitable transaction to withdraw liquidity, thereby using the extra BPT to acquire other underlying assets (cbETH and wstETH) in the Pool and thus profit. Attacking the transaction: https://app.blocksec.com/explorer/tx/arbitrum/0x7da32ebc615d0f29a24cacf9d18254bea3a2c730084c690ee40238b1d8b55773 Profitable trades: https://app.blocksec.com/explorer/tx/arbitrum/0x4e5be713d986bcf4afb2ba7362525622acf9c95310bd77cd5911e7ef12d871a9 Reference: [1]https://x.com/Phalcon_xyz/status/1985262010347696312 [2]https://x.com/Phalcon_xyz/status/1985302779263643915 [3]https://docs-v2.balancer.fi/concepts/pools/composable-stable.html
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PANews2025/11/04 14:00