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Token Unlock Schedules and Vesting Cliffs: A Practical Guide
A clear, data-driven guide to token unlock schedules and vesting cliffs.
Cliffs versus linear vesting
A cliff releases nothing for a set period, then a large tranche at once; Arbitrum's team and investors had a one-year cliff ending March 16, 2024, which unlocked about 1.1 billion ARB. Linear vesting then releases equal amounts per block, day or month.
Measuring the shock
Express each unlock as a percentage of current circulating supply, not total supply. ARB's 2024 cliff was about 87 percent of the then circulating supply, while a monthly unlock of 92.65 million ARB afterward was roughly 3 percent.
Who receives tokens matters
Investor unlocks tend to bring more selling than ecosystem grants that are distributed slowly. Market makers and OTC desks often pre-hedge with perps, so price can fall before the unlock date.
Sell-pressure formula
Expected sell pressure = unlocked tokens × price × assumed sell share. For 50 million tokens at $1.50 with 40 percent sold, that is $30 million, which you can compare with average daily volume.
Tools for tracking
Token Unlocks, CryptoRank and project documentation list schedules. On-chain, watch vesting contracts and transfers to exchanges in the days after release.
By the numbers
For Token Unlock Schedules and Vesting Cliffs, the reference figures are topic of Token Unlock Schedules and Vesting Cliffs, level of Intermediate, updated of 2026. The comparison table below lines up event, tokens, % of circ. at time — ARB cliff (Mar 2024): ~1.1B / ~87%; ARB monthly linear: 92.65M / ~3%; TIA cliff (Oct 2024): ~175M / ~80%.
Modeling Token Unlock Schedules and Vesting Cliffs with the Token Unlock Sell Pressure Calculator
The Token Unlock Sell Pressure Calculator takes three inputs — Tokens unlocking (M), Price ($), Expected sell share (%). Sell pressure = unlocked tokens × price × sell share. With its default inputs (Tokens unlocking (M) = 50; Price ($) = 1.5; Expected sell share (%) = 40) it returns 30,000,000 $; swap in the figures from Token Unlock Schedules and Vesting Cliffs above to reproduce the scenario yourself.
Modeling Token Unlock Schedules and Vesting Cliffs with the Supply Emission Inflation Calculator
The Supply Emission Inflation Calculator takes three inputs — Supply (M), Daily emission (K), Days. Inflation = daily emission × days ÷ supply. With its default inputs (Supply (M) = 1000; Daily emission (K) = 500; Days = 365) it returns 18.25 %; swap in the figures from Token Unlock Schedules and Vesting Cliffs above to reproduce the scenario yourself.
Data Table
| Event | Tokens | % of circ. at time |
|---|---|---|
| ARB cliff (Mar 2024) | ~1.1B | ~87% |
| ARB monthly linear | 92.65M | ~3% |
| TIA cliff (Oct 2024) | ~175M | ~80% |
Frequently Asked Questions
Do unlocks always lower price?
Not always; markets often price them in early.
What is a cliff?
A period with no vesting followed by a large release.
How do I compare unlock size?
Divide by circulating supply and by daily volume.
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For educational and informational purposes only. Not financial, investment, tax or legal advice. Figures are approximate and historical; crypto assets are volatile and you may lose capital. Do your own research.