Create a vesting contract
Last updated
Last updated
When connected to the App, you will see a section named "Create new vesting contract" as shown on the screenshot below. In the "Contract address" field you need to put the Contract address of the Token that you want to vest.
The tokens to be vested have to be either FA2 or FA1.2 tokens on the Tezos Blockchain.
For example, if you want to vest SMAK Tokens you need to provide the right Token contract address e.g "KT1TwzD6zV3WeJ39ukuqxcfK2fJCnhvrdN1X"
As the contract admin you have the option to keep the ability to revoke a contract at any time.
"ON" means you'll keep this ability to revoke an ongoing vesting contract.
"OFF" means you won't be able to revoke an ongoing vesting contract.
Of course, users will see this on the contract as well as their personal dashboard.
Learn here how to revoke a contract's beneficiary here.
For each vesting contract, you need to add at least one beneficiary's wallet address.
You can add an unlimited number of beneficiaries to a contract by clicking on "Add Beneficiary".
Beneficiaries will be able to claim their tokens on their dashboard.
The lock amount is the total number of tokens that you want to send to a beneficiary for a given time period. For the same vesting contract, the Lock amount can be different between beneficiaries.
You'll see a percentage next to the Lock amount: 25%, 50%, and 100%. These percentages are here for convenience and are proportional to the total number of tokens in your wallet.
For example, if you have 100,000 $SMAK in your wallet and click 25%, he will fetch 25,000 $SMAK for the vesting period.
The unlock period is the time period you want to vest your tokens for.
You can directly select Start and End dates on the Calendar for your vesting contract.
"Unlock Starts" is the day at which the contract will start sending out tokens to the beneficiary's address.
"Unlock Ends" is the day at which the contract will end and tokens are fully released.
The Vesting fee is required to start a vesting contract.
You'll need 15,000 SMAK on your wallet to create a vesting contract.
Don't forget to also have a small amount of XTZ to pay for gas fees and confirm the contract.
While filling out the contract, you will see in the upper right corner, a "Summary" of your vesting contract.
We strongly recommend to double-check all the details of the contract before confirming a transaction.
You can easily change the details in the left tab.
When you've finished filling out the vesting contract, you need to click on 'Initialize' to start the process. Then, you'll need to hit "Confirm Vesting" and approve the vesting fee i.e 15,000 $SMAK using your wallet.
Once you have double-checked your contract, you can hit "Confirm Vesting" and confirm the transaction from your wallet to deploy the contract.
