Token Lockers: Where To Lock Your Tokens and Liquidity Pool
Introduction
Project owners have a great chance to improve user security and promote long-term investment in their cryptocurrency initiatives by using token lockers. These smart contracts hold tokens in storage and release them after a predetermined amount of time has passed or a predetermined condition has been satisfied. Additionally, they can be used to store both liquidity pools and tokens.
Token lockers are an essential tool for new cryptocurrency projects to promote long-term investment and user protection. Project owners can encourage community growth and raise the overall value of their projects by utilizing token lockers, but finding the right ones might require extensive research.
Benefits of Token Lockers
Creating a new cryptocurrency project can be a daunting task and as a project owner, you should look into doing everything you can to gain your investors’ trust. Locking your tokens while doing a presale is the first thing new investors will be looking for before investing in a new token. Alongside your smart contract audit and your KYC, locking your tokens should be the foundation of your marketing strategy.
The great news is that there are platforms out there that can make this process quite straightforward and with a few clicks, you should be ready to go. There are various well-known token locker platforms available in the crypto industry for locking your tokens and liquidity pool. Here are a few of the most popular ones:
Coinscope
If you’re looking for ways to enhance the liquidity and stability of your crypto project, Coinscope has got you covered with its two types of lockers — token locker and liquidity locker. Here’s everything you need to know about these lockers:
Token Locker: Coinscope’s token locker gives project owners the ability to lock up their tokens for a set amount of time, reassuring that the project team is dedicated to the project’s long-term success. The platform is quite intuitive and easy to use, providing all the tools you will need to create your own lockers with or without a vesting schedule.
The configurable Coinscope token locker enables cryptocurrency projects to select the ideal locking interval for their purposes. Depending on the needs of the project, the locking period can be anywhere from a few days to several months. The efficient and safe operation of the token locker guarantees that tokens are safely stored and that the locking procedure is quick.
LP Locker: If you are looking to take it a step further and lock your liquidity pool pairs, Coinscope offers this functionality as well. With a couple of steps, you can add the amount, smart contract address and the lockup period and the LP locker will be created in seconds. Again you have the option to set a vesting schedule for your locker.
Unicrypt
Unicrypt is a decentralized platform that offers a range of services for cryptocurrency projects, including token generation, token vesting, and token launching. The platform can support multiple networks like Ethereum, BSC, and others and is designed to help projects launch and grow in a secure and decentralized manner.
Locking of tokens and liquidity is one of Unicrypt’s main services. Token locking in Unicrypt entails securing a predetermined number of tokens for a predetermined amount of time.
To begin, navigate to the “Browser” tab on the user interface section and select the decentralized exchange (DEX) where you want to find a particular token.
Once you have selected the DEX, head to the “TOKENS” tab and paste either the token’s name or address in the search bar.
After selecting the token, you will be taken to a page that displays all the locks for that particular token, along with information about the locks.
It’s important to note that the percentage of vested tokens may vary depending on the project, as some projects may allocate their other tokens for liquidity, staking rewards, or development.
Always research what other tokens are being used before investing. You can refer to the tokenomics chart on the presale page to visualize how many tokens will be vested when participating in a presale.
If you want to check if the project has locked liquidity, then you should do the following:
- First, go to the “Browser” tab on the user interface section and select the decentralized exchange (DEX) for the token pair you’re interested in.
- Next, navigate to the “TOKENS” tab and enter the name or address of the token. Once you’ve selected the token, you’ll be taken to the token information page, where you can see all the pairs associated with the token, as well as information about any liquidity locks.
- To check the details of a specific liquidity lock, choose one of the pairs and you’ll be taken to a screen where you can see how much of the liquidity is locked and for how long, including any expired locks.
However, if the project has not yet launched, there won’t be any locked liquidity to check. In this case, you can still find information about the amount of liquidity that will be locked at launch by visiting the project’s presale page and selecting the “info” tab.
There, you can find details about how much liquidity will be locked and for how long. Additionally, reviewing the tokenomics can give you a better idea of how many tokens will be allocated to liquidity.
PinkSale
PinkSale is a decentralized launchpad that allows users to launch their own token and create their own initial token sale. PinkSale also offers a token locker functionality in its platform called PinkLock.
The Locking Process
- You need to go to the site and connect your wallet before you can use PinkLock to create a lock.
- The owner address, where the unlocked tokens will be transmitted, should then be entered after your token or LP token address.
- The next step is to select the number of tokens to be locked and give the lock a title, such as “MoonLambo777 Lock.” Remember that you can only enter whole numbers; percentages are not allowed.
- Next, enter the UTC lock time at which point your tokens will be locked.
- You can complete the lock after authorizing the transaction and paying the cost.
You also have the option to set your vesting schedule when creating the locker which gives you the flexibility to structure your tokenomics as you desire.
Unilocker
Unilocker is another tool to take into consideration if you’re a developer looking to secure your investments through token locking and liquidity pool (LP) locking.
Numerous networks are supported by Unilocker, including well-known ones like Ethereum, BSC, and Polygon. Developers can also decide how long to lock their tokens for, with lockup periods ranging from one day to five years. Additionally, Unilocker has a dedicated support team available to help developers with any problems they might run into.
The process
- To use the Unilocker token locker, users must connect their wallet to the platform and select the token they wish to lock.
- They can check the token address and then choose the token amount they want to lock.
- Setting the exact lock period is one of the most important steps.
- They can optionally check the liquidity locker in order to add the most important layer of safety against possible rug pulls.
Team Finance
Team finance is another platform to think about if you’re a developer trying to protect your assets through token locking and LP locking.
A broad variety of blockchains are supported by Team finance, including Ethereum, BSC, Cronos, Fantom and Polygon. With lockup durations ranging from one day to four years, developers can decide how long they wish to lock their tokens.
The Process
- Users connect their wallet to the platform,
- Select the token they want to lock, and
- Specify the amount
- Duration of the lockup
- and conditions of the lock.
Team finance allows you to lock tokens, LPs, and NFTs giving you a lot of options based on your project and network. It’s one of the most well-versed locking platforms in the cryptocurrency industry with over $390M in Token Lock Value (TLV) as of the time of this writing.
Conclusion
For token and liquidity locking, there are numerous platforms and protocols available, each with a unique set of advantages and disadvantages. Before selecting a location to lock your tokens and liquidity pool, it is crucial to conduct careful research and comprehend the risks.
Overall, in the always-changing world of cryptocurrencies, properly weighing your alternatives and making educated judgments will help you make informed decisions and avoid any future problems.
