How to lock a Fungible token
Last updated
Last updated
1. From either Explore or My Vault page, click one of the Lock buttons
2. In the Create New Lock window, choose “Tokens”
3. On the next step either enter the contract of the token you want to lock or choose a token from the dropdown list, then click “Continue”
4. Now that you have chosen the asset, Enter the Amount you’d wish to lock.
5. After entering the amount, choose how long you’d like to keep your tokens locked from the dropdown list of "Unit of time". You can select from as short as minutes up to billions of years.
6. “Would you like to vest your tokens?” - If you want to keep all your tokens fully locked until the lock expires, leave this option unchecked. If you select this option, you will be able to partially claim your tokens at any point and as many times as you like based on elapsed time of your lock.
The amount of claimable tokens increases linearly with each passing block. For instance, if you lock 1000 X tokens for 10 months, then choose to claim tokens after exactly 3 months after locking, you will be able to claim 300 X tokens (30%) of your entire locked amount.
If you want to pay the service fee in native token (ETH in ETH chain for instance) instead of USDT, you can enable this option.
You can get a Vault Key as an NFT if you enable this option. It allows you to transfer the ownership of your vault to another wallet. If you don't enable it, you will not get a Vault Key.
9. Once you’ve selected all the options and happy to proceed, click the “Continue” to initialize the lock process
10. A series of transactions, from approval to vault creation will appear one after another. Once you confirm them all, the lock process will finish and your newly locked asset will appear in the “My Vault” section of the application.
