Token Locks

Frequently asked questions about TrustSwap's Token Locks

What are Token Locks?

Token Locks allow DeFi projects to set up customized token lock parameters.

By locking up the tokens of team members and treasuries with SmartLocks, projects can instil trust in their communities and show that they are in for the long term. Time-locked tokens cannot be released until the lock expires so investors can be confident that the teams will not dump all their tokens on the market (aka β€˜Exit scam’).

Why are Token Locks important?

Projects can lock a percentage of their pre-mined token supply or team tokens into our time-locked decentralized smart contract vault.

Tokens can not be accessed by the projects until the end of the locked period(s). This way the community and investors can be reassured that tokens will not be dumped by the team during the contract period.

How can I create my Token Locks?

Navigate to https://team.finance/lockups and follow this simple procedure in the wizard:

  1. Under "Create New Lock", select the appropriate chain

  2. In step 2 select: β€œProject Tokens” and follow the steps

Make sure you are connected with a compatible wallet such as Metamask to complete the required steps. The token lock parameters are set via smart contracts technology and are accessible for everyone to evaluate by clicking "View" next to the token of your preference in the https://team.finance/ dashboard.

Which chains are supported by Token Locks?

Currently, tokens built on Ethereum, Avalanche, Binance Smart Chain, Algorand, Heco Chain, Velas, Fantom, and Conflux chains can be locked with Team.Finance.

Who can see the parameters set for projects using Token Locks?

The token parameters are set via smart contracts technology and are accessible for everyone to view by clicking "View" next to the token of your preference at https://team.finance/.

Are there any additional advantages for TrustSwap token holders?

Yes, there is a 50% reduced fee if TrustSwap tokens are used in Token Locks.

What are the fees to lock tokens and liquidity?

Each token lock costs $75 paid in the base token of the given blockchain (ETH, BNB, etc.). Prices are based on real time oracle feeds from ChainLink and are subject to change.

Where can I find the smart contract details and audit reports?

The contract details can be found here and audit reports are here.

Can I extend a lock while it is still locked?

Locks must complete before you can extend the timeline.

My lock is over, why don't I see tokens in my wallet?

You need to manually withdraw your tokens from Team Finance back into your wallet. This can be done at https://team.finance/lockups

Can I lock reflection tokens and/or rebase tokens?

Reflection (taxed) and Rebase tokens can be locked however users can only withdraw up to the amount of tokens initially locked. If you deposited 3,000 tokens and the amount grows to 4,000, you can still only unlock 3,000 tokens. The rest remains locked forever.

Can I migrate my Token Locks from Team.Finance v2 to v3?

No. You will need to wait until the tokens in v2 unlock. They can then be withdrawn and re-locked into v3.

Projects launched via the TrustSwap Launchpad embed Token Locks, Liquidity Locks and Vesting-as-a-Service in order to guarantee high quality.

Additional trust and confidence can be obtained by combining these services with MINT. MINT is the service that allows anyone to easily mint within minutes and without coding experience required, an audited and customizable token on Ethereum, Polygon and/or Binance Smart Chain. With MINT, projects can significantly decrease development and audit costs, and remove code-based risks such as secret minting features, backdoors, code vulnerabilities, attack vectors and bad actor developers.

Projects can efficiently mint their own audited token and add common features such as minting, burning, staking and more. The projects save significant costs for 3rd party audits and code development, while they also generate trust from the community knowing that the scam and attack risk is exponentially declining. The integration of these 4 services offers a secure and safe environment to your investors, community, holders, stakers and team members by preventing team token dumps, rug pulls and rogue and risky minting. Claim schedules can be connected to concrete achievements and dates, in a trustless and transparent environment.

Last updated