Create a Lock
Last updated
Last updated
Follow the steps below to create OnGate Lock.
Connect your wallet.
2. Navigate to Create Lock
3. Enter your token or LP token address.
4. Choose activating "Use another owner?" or not. In this instance, we do not use this feature yet.
5. Enter the title of this lock, "Not a Lock" for instance.
6. Enter the amount of token for locking. Please keep in mind, you can only input numbers here, not percentages.
7. Lock until (UTC time): Enter the lock time, your tokens will be locked until this moment.
An example:
8. Choose "Approve Token"
9. Your wallet will now request that you confirm the transaction. It will also display the fee that you must pay for that transaction. If you agree, click the "Confirm" button to complete the "Approve" procedure.
10. Select "Lock"
11. Your wallet will now request that you confirm the transaction. It will also display the fee that you must pay for that transaction. If you agree, click the "Confirm" button to complete the "Lock" procedure.
Connect your wallet.
2. Navigate to Create Lock.
3. Enter your token or LP token address.
4. Choose activating "Use another owner?" or not. Enter new owner's wallet address. This is where the unlock tokens will be sent. This action will also transfer lock ownership to the new owner.
5. Enter the title of this lock, "Not Another Lock" for instance.
6. Enter the amount of vesting tokens
7. Put a check in the check box titled "Use vesting"
8. Here are some critical parameters:
TGE Date: The time of listing.
TGE (percent): The percentage of the first batch of team tokens to be released. Please note that this is expressed in percentage, not number of tokens.
Cycle (days): How long, in days, between each batch of vested tokens is released.
Cycle Release (percent): How many tokens will be released each cycle following the First Token Release batch. Please note this is expressed in percentage, not in number of tokens.
Example: Your project has a vesting schedule for your team as below:
Your team has 50000 tokens to be vested in total, 10% will be vested at TGE and 90% unlocks every day afterwards for a total of 4 cycles (equal to 4 days).
Let’s imagine that your presale on ONGATE ended on the 28th of October. At TGE (2022-10-28 | 10:00 UTC+00:00 for example), your team can claim 50000 x 10% = 5000 tokens for the first token release batch. Then every day afterwards, from the 29th of October to the 1st of November, your team can claim the next 4 batches, 50000 x 15% = 7500 tokens each batch.
In this case you would enter the following information:
Amount: 50000
TGE Date (UTC time): 2022-10-28 | 10:00 UTC+00:00
TGE Percent: 10
Cycle (days): 1
Cycle Release Percent (percent): 15
9. Select "Approve"
10. Your wallet will now ask you to confirm the transaction. It will also display you the fee that you are required to pay. If you agree, click on the “Confirm” button to finish the "Approve" process.
11. Select "Lock"
12. Your wallet will now ask you to confirm the transaction. It will also display the fee that you are required to pay. Shall you agree, click on the “Confirm” button to finish the "Lock" process.
Note: Rebase tokens are not supported.
