Estructura de mercado

Token-unlock framing

An unlock creates transfer capacity, not proof of an immediate sale.

Reference note · Sources below

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En este artículo

Overview

An unlock creates transfer capacity, not proof of an immediate sale.

Headlines collapse schedule, release, deposit and execution into one event.

Separate each stage and compare with active liquidity.

Estructura de mercado

A firm borrows inventory under options, floors or recall rights.

Estructura de mercado

A calendar event is not the same as an observed sale.

Historia cripto

Compound's distribution helped popularise an incentive model that made activity and sustainable demand harder to separate.

Billeteras y seguridad

A cleanup transaction can recover account funding, but its destination is still part of the signed request.