Lock Team Token
Team Vesting System (also known as Anti-Rug System) is a protocol that requires project owners to lock their team's Tokens for some time so that no unlocked Tokens can cause a rug pull.
This feature helps projects establish a higher level of trust with their investors, thus potentially leading to growth and price appreciation in the long term. It also prevents scam projects from trying to withdraw and sell all their unlocked Tokens on or shortly after the listing period (so-called rug pull).
Follow the steps below to use the Team Vesting feature.
- 1.Connect your wallet.
3. In “step 2: Defi Launchpad information”, please check the box “Use Anti-Rug System (Team Vesting System)”. Here are some important parameters:
Total Tokens for Team: The total number of tokens you will allocate to your team. Please note, that you can only enter numbers here, not percentages. Issuance of the first
Token after listing (date): The first batch of Group Tokens will be released after this period from TGE. Please note, that this is measured in days, not months or years.
First Token Issuance (percentage): Percentage of the first batch of Tokens issued. Please note that this is expressed as a percentage, not the number of tokens.
Check interval per cycle (days): How long, in days, between each batch of issued tokens being issued.
Group Token Issuance Per Cycle (percent): Number of Tokens to be issued per cycle after the first Token Issuance. Please note that this is expressed as a percentage, not by the number of Tokens Project owners need to manually claim their team tokens from their Launchpad dashboard on ApeSale, when each test cycle ends.
For example, your project has the following test schedule for your team: Your pool has a total of 1,000 Tokens, 40% will be locked for 6 months from TGE and 20% unlocked every month after that for a total of 3 cycles.
Imagine that your Presale on ApeSale ended on April 5th. Six months later, on October 5th, your team can claim 1,000 x 40% = 400 Tokens for the first Token issuance. Then every month, on the 5 of November, December, and January (the last release 9 months after your Presale ends), your team can claim follow-up batches, 1,000 x 20% = 200 tokens per batch. In this case, you would enter the following information: Total Tokens of the test team: 1,000 First Token issue after listing (date): 180 First Token Issuance (percent): 40 Nesting time per cycle (day): 30 Tokens issued per cycle (percent): 20
How to claim?
Once each test cycle is over, project owners can visit their Launchpad dashboard and withdraw the issued Tokens by clicking the “withdraw vesting tokens” button. If for any reason, project owners are unable to withdraw their issued Tokens at the end of the cycle, they may do so at any time thereafter. If they have to wait until the next cycle expires, the total amount that can be withdrawn at that time will be the balance of the previous cycle amount plus the number of tokens of the recently expired cycle.