The Streamflow Token Lock feature allows you to securely lock tokens until a specified date and time on multiple networks including Solana, Aptos, and Sui.
What is a Token Lock?
A Token Lock involves sending tokens to a smart contract, making them inaccessible for trading or withdrawal until the set time period expires. This feature is commonly used for locking liquidity pool (LP) tokens to ensure community trust and prevent sudden fund withdrawals by the project team.
Token Locks require users to send tokens to a smart contract, where the tokens become inaccessible for trading or withdrawal. The tokens are held within the contract until the time period set by the token sender is fulfilled, at which point they are released.
Token Locks are most often used to lock liquidity pool (LP) tokens —from your project's liquidity allocation— for a fixed amount of time. Liquidity Pool (LP) Tokens are a type of receipt token representing ownership of a portion of liquidity within a decentralized exchange’s (DEXs) liquidity pool.
When you list a token on a decentralized exchange (DEX) or deposit an existing token pair, you will receive what is known as 'LP Tokens.’
Benefits of Token Lock:
• Commitment and Transparency: Locking LP tokens demonstrates a commitment to the project and builds community confidence.
• Security: Ensures that liquidity remains within the DEX, preventing developers from cashing out prematurely.
Locking LP tokens prevents depositors of the liquidity from withdrawing their funds. It guarantees the community that liquidity will remain within the DEX to facilitate swaps, and not be cashed out by developers or project founders (like we’ve recently witnessed with the launch of $BALD token on Base Network). The locked LP tokens can only be withdrawn or changed at the end of the locked period(s).
Available at https://app.streamflow.finance/token-lock
⚠️ Important Warning: Token Locks Are Irreversible
When locking your tokens, please note that locked tokens cannot be moved, accessed, or unlocked under any circumstances before the specified unlock date. This process is designed to ensure the integrity of the lock mechanism and maintain trust in the system.
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