Create Lock Using Vesting
How to Lock Your Token or Liquidity Pool Using Vesting on DefiLaunchApp
Step 1: Connect Your Wallet
Start by connecting your digital wallet to the DefiLaunchApp. This is necessary to authenticate your actions and secure the vesting process.
Step 2: Navigate to Token Locker
From the DefiLaunchApp homepage, select "Token Locker" and then "Create Lock", or directly access the locking feature at https://launchpad.defilaunch.app/lock.
Step 3: Enter Token Address
Input the address of your token or liquidity pool (LP) token that you wish to subject to vesting. Double-check the address for accuracy.
Step 4: Ownership Transfer
If desired, use the "use another owner" function to specify an address where the unlocked tokens will be sent upon vesting completion.
Step 5: Define Lock Title
Provide a clear title for your lock, such as "VESTING DEFILAUNCHTOKEN", to easily identify the lock in future references.
Step 6: Specify Vesting Amount
Enter the total amount of tokens you want to place under the vesting schedule.
Step 7: Enable Vesting
Ensure to place a check in the "use vesting" checkbox to activate the vesting feature.
Step 8: Vesting Parameters
TGE Date (Local Time): Set the listing time as the Token Generation Event (TGE) date.
TGE (Percent): Specify the percentage of tokens to be released initially at TGE. This is expressed in percentage terms.
Cycle (Hours): Determine the duration in hours between each subsequent token release cycle.
Cycle Release (Percent): Define the percentage of tokens to be released in each cycle after the TGE. The final cycle will release any remaining tokens.
Step 9: Approve the Transaction
Click "Approve" to initiate the transaction. Your wallet will prompt you to confirm this action and display the associated fee. Confirm the transaction if you agree with the terms and the fee.
Step 10: Finalize Locking with Vesting
After approval, click "Lock" to secure your tokens under the vesting schedule. Your wallet will again ask for confirmation and display the transaction fee. Confirm the transaction to complete the locking process.
Important Note:
Remember to exclude the DefiLaunchApp contract address (0xe2a923c6f4e10bcfd72873a80ea4baa13c95b18b) from any fees, rewards, and maximum transaction limits for a smooth vesting process. Note that rebase tokens are not supported for this feature.
By following these steps, you can successfully lock your tokens or liquidity pool with a structured vesting schedule on DefiLaunchApp, providing clarity and security for your project's stakeholders.
Last updated