How to Lock
Guideline on how to create a new lock or a batch of locks
On this page you will find the 2 main ways to lock your tokens (standard or linear) as well as the settings which are in common for both methods.
Whether you decide to unlock all your tokens until they are all released at once at a specific date, or unlock them gradually at every block, the following settings are common to both locking methods and can be found under "New Lock" tab. Ensure at first that you have connected your wallet where the tokens are, selected the network and entered the contract address of your token. The below menu will appear automatically when your token is found.
- Amount of tokens to lock: Self-explanatory
- Premature unlock condition: Documentation will come at a later stage
- Who can withdraw the tokens: Here you can select if it's you (i.e. the connected wallet) who will be able to withdraw the tokens, or if it is someone else.
Select who will have the rights to withdraw the token at the end of the locking period.
- Charge the fee separately: Leaving the default option (i.e. "selected" as per below picture) ensures the amount of tokens you lock will be a "round" number, as the 0.35% fee will be taken separately. When you de-select this option, the fee will be taken from the amount you lock hence it will not be a "round" or "entire" number.
- Enable free locking for your token: You can pay a flat fee of 15'000 USDC/BUSD for a unlimited amount of locks of a specific token, waiving the 0.35% fee forever. You may wish to select this option in any of there circumstances:
- You know you will use this feature extensively for a specific token
- You may ask your community/investors to lock some of their tokens
- The $ value of the 0.35% fee on the total amount of tokens you will lock is expected to be close to, or higher than, the service fee.
In case you decide to lock your token using the 0.35% fee, please do understand that the equivalent $ amount will be variable. Unicrypt will convert the fee to stable coins once or multiple times during the lifetime of a token, while trying its best not to impact the related chart.
If you are uncomfortable with this, we do recommend opting for the BUSD/USDC fee.
A
This will allow you to create multiple locks, each with different conditions and submit all of them at once when sending the order by clicking "Lock".
- When pressing "Lock", the tokens are locked immediately after the transaction fee is confirmed and will be released/withdrawable as per the type of lock selected (see next sections, "Simple" and "Linear" unlock).
- Ensure you have whitelisted our contract to ensure you are not additionally taxed before proceeding with your tokens' locking (see the warning at the top of this page)
- The time of unlock is approximated and the further away the date is, the less accurate the time will be, as it will be set to unlock at a certain block which may not be processed exactly at the expected hour and minute.
- When adjusting the time, if the date is changing or is "jumping around", it probably means that you did not select the date yet. Click "Date" and select a date in the future before adjusting the time.
- You cannot select a start date for the lock of your token: the start date and time is right after your transaction is submitted and processed.
Set up a lock with full unlock of all tokens at a specific date
The tokens are lock until the selected date and time
Note: refer to the "Common settings" section above when required
Click the Calendar icon
The date popup window will show up: Select the unlock date for the full amount of tokens
On the popup window, next to "Date", select "Time" and choose the unlock time
The "hour" is selected by default. Move the hand of the clock accordingly.
If required: select the minutes (by clicking on the minutes of the digital clock) and move then hand of the clock as required.
Click on "Accept" to ensure the date is set
Once you have filled and checked all required fields, you can press "Lock" to confirm your choice (you may need to click "Approve" first). This will trigger the interaction with your wallet (e.g. Metamask) and ask you to pay the network transaction fee.
Once you have sent the transaction, your tokens will be locked. This cannot be reverted.
Set up a lock with linear unlocking at every block between date "A" and "B"
- The token are locked until the start of the linear unlocking ("Start date" in the UI) and will be released gradually per block until the end of the locking period ("End date" in the UI). Note: You can refer to above section related to [Simple Lock] in case you need help on how to interact with the clock
- Once both dates and times are selected, a chart will be generated showing a flat line from the start of the lock until the start of the unlocking, then you will see the line going upward linearly until the end of the lock period.
You can point your cursor on the line to see the total amount of unlocked token for a specific date.
Proceed with the confirmation by pressing the "Lock" button as per explanation in previous section.
Ensure you have done the necessary to whitelist our contract in case there is taxing mechanism on your token (check warning at the top of this page)
Last modified 4mo ago