Every project needs some level of trust, trust in the technology, and trust in the project’s team, but this goes against core concepts of blockchain technology, especially the goal of building a trustless system where everything is clear and open.
One way for projects to avoid an unnecessary burden of trust on the users is to simply lock their own team tokens away in a publicly viewable and timed lock vault. Such a vault would prevent owners from withdrawing their tokens for a predefined period of time.
This allows the users to know, rather than trust, that the owner of the tokens can’t access them and do harm, such as
Dumping if the tokens are a project token.
Rug pulling if the tokens are an exchange’s Liquidity Provider tokens.
A solution for locking and vesting tokens.
Tokens can be locked by users in our secure Lock Vaults for predefined periods of time.
Tokens can be stored in secure Vesting Vaults that allow the user to withdraw predefined amounts of the tokens periodically.
Each Lock Vault and Vesting Vault is a uniquely generated Smart Contract owned by you and only you.
Vesting Vaults Note
Additional uses of vesting vaults include:
serving long-term investors who need help HODLing their tokens.
Can be used to control the release of a team's budget at a fixed pace.