The unlocking progress of XPL has recently attracted a lot of attention. Today, let's discuss the upcoming key milestones.

**Recent Regular Releases**

Currently, the market experiences a fixed round of new tokens entering each month. Generally, around the 25th of each month, approximately 88.89 million XPL are unlocked (the last one was on January 25). These mainly come from linear releases in the ecosystem and growth sectors—totaling 4 billion tokens. After the initial rapid release during launch, the remaining 32% will gradually flow into the market over three years. Everyone is mentally prepared for this pace, and the market is digesting it relatively smoothly.

**July 28th is the Turning Point**

The real pressure point is in the second half of this year. What will happen on that day?

First, the unlocking of US investors. During the public sale last July, this portion of tokens was frozen for an entire year. On July 28, they will all be released.

Second, the major unfreezing of team and investor allocations. The 25% team quota plus 25% investor quota, totaling 5 billion tokens, will be released after a one-year cliff(Cliff), entering a two-year monthly linear release mode.

In other words, starting from August, the monthly unlock volume will jump from over 80 million to more than 300 million tokens, sharply increasing pressure.

**Official Response Measures**

The official team is not sitting idly. They plan to introduce a validator staking(Staking) mechanism in Q1/Q2 of 2026. Although this will theoretically cause a 5% inflation, this mechanism can lock circulating tokens in staking, helping to absorb some selling pressure.

Overall, the first half of the year will be relatively minor, but the real test begins after July.