I would say NO without hesitation for the following reasons:

  • First, according to Unlock Protocol's documentation, the protocol distributes new tokens based on a logarithmic curve determined by the protocol's usage. Figure 1 illustrates that only 874 $UDT tokens were generated after two years, indicating that there has been minimal activity within Unlock Protocol.

  • Furthermore, the total supply of tokens is currently 1,000,874, with 99.999% of them held by the Unlock team. This is because 1,000,000 tokens were pre-mined and stored in Unlock's multisig wallet, with the goal of using 800,000 of them to promote the adoption of the protocol, leaving at least 200,000 for the company.

  • Finally, examining the price chart in Figure 2, which has a daily trading volume of 20k USD, it is clear that the project has not shown any significant recovery despite the recent rise of BTC from 16k USD to 27k USD. It appears to be a typical pump and dump project. Show Less

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