Create a Locker
Last updated
Last updated
In this section, we will provide you with information on how to navigate and use the Locker tool to lock tokens or LP.
Being a platform that uses web3 technology through different networks, before being able to interact with the tools of the platform you must connect a wallet.
Click on the following link to see how: How to connect my Wallet to Powadap?
Follow these steps to create a locker for your token.
In the side menu click on Locker > Create Lock.
Once on the locker creation screen, you will need to fill in the following fields.
In the "Token address" field, you can enter the address of the token contract or liquidity pool contract you want to lock. Upon entering an address, it will display information related to that asset.
If you activate the "Set another owner?" option, you can define another wallet that will have access to unlock the tokens in the future. It is important to note that in this case, the locker creator will not have access; instead, the ownership of the locker will be transferred to the other defined wallet.
Then you must define a title for the Locker, as well as the total amount of tokens to be locked. You can use the "MAX" button if you want to lock all the tokens you have in your balance.
If you want to create a conventional locker where you lock the tokens and then withdraw the entire amount after a specific date, you should leave the "Set vesting?" option unchecked and then set a date for unlocking the tokens.
On the other hand, if you want to establish a vesting schedule for the progressive release of tokens, you should check the "Set vesting?" option. Here, you need to define certain parameters:
The "TGE Date" field refers to the initial token release date, which determines the start of subsequent token release cycles.
The "TGE Percent" field represents the percentage of tokens released only on the first date.
The "Cycle" field (specified in minutes) sets the duration of each subsequent cycle for releasing tokens.
The "Cycle Release Percent" field indicates the percentage of tokens released after each subsequent cycle following the TGE.
In the example in the image, it is defined that the first release date will be on November 18, 2023, at 8:00 AM (local time). Once that date is reached, 50% of the locked tokens (TGE percentage) can be claimed. Subsequently, every 10 days (864,000 minutes), 10% of the tokens will be released until the total is reached.
Before proceeding, if your token has any type of fee or rewards, you must exclude the Locker contract to avoid any errors. Rebase tokens are not supported in this Locker system.
Exclude Fees, Dividends, Max TX
Once you have defined and verified all the parameters, you can click the "Lock" button. You will be prompted to approve the use of the tokens, and then you will need to approve the locking transaction.
After you have locked the tokens, a notification will appear stating that the locker was created. Depending on the type of asset you have locked (Token or LP token), you should go to the sidebar menu and select Locker > Token Lockers or Locker > Liquidity Lockers.
There, you should choose the "My lock" tabs on the right, and you will see a list of the lockers you have generated.
