Team Vesting Tutorial
Team vesting system is introduced to prevent rugpulls by locking the token holding of developers for a period of time. During the Lock-up period, developers cannot withdraw the team tokens to dump it
Team vesting system is introduced to prevent rugpulls by locking the token holding of developers for a period of time. During the Lock-up period, developers cannot withdraw the team tokens to dump it at the market.Setting up a team vesting system will earn the trust of your investors and boost token sales. How to set up a Team Vesting System?
Step 1. Connect your wallet Step 2. Go to https://sale.finance/pinklock/create Step 3. Fill out the contract address of your token Step 4. Fill out the developer’s wallet address Step 5. Name the title of the lock Step 6. Set the amount of tokens being vested. Remember to write in the exact amount, not in percentage. Step 7. Check the “use vesting?” box.
Definition of terms:
TGE Date: Date of the listing. TGE (percent): The first batch unlocked percentage of the team token. Cycle (days): The length of each unlock period of the team's token. Cycle Release (percent): The unlocked percentage of each cycle after the first token unlock.
Say a total of 10,000 team tokens are going to be vested. 20% will be unlocked upon listing, the rest 80% will be unlocked successively in 2 cycles. (30 days per cycle)
Assume that your presale ends and the listing begins on June 6th. On that date, your team can withdraw 10,000 x 20% = 2,000 base tokens as the first batch. There will be two more batches of team token unlock taken place in 30 days and 60 days. For each of the two latter batches, your team can claim 10,000 x 40% = 4,000 tokens.
If the above is what you plan to do with your project, you should input the following information while setting up team vesting:
Amount: 10,000 TGE Date (UTC time): 2022-6-6 TGE Percent: 20 Cycle (days): 30 Cycle Release Percent: 40
- 1.Click “Approve”
- 2.Confirm the transaction in MetaMask
- 3.Double-check all infos and click “Lock”
- 4.Confirm the transaction in MetaMask again
How to claim?
After the end of each vesting cycle, the project team can go to the Angel Lock page to unlock the vested tokens.
You have two options:
(1) Click “Unlock” to claim your vest tokens. (2) Click “Renounce Ownership” to forfeit the ownership of the tokens.