Token Locks: How Would It Benefit The Ravendex Ecosystem?
For most Cryptocurrency projects one of the ways to ensure growth and longevity of the project is by Locking/Vesting The Tokens Utilising a Smart Contract.
What Is Token Vesting?
Vesting in layman terms means locking up a certain amount of tokens that are held aside for some period of time for the team, partners, advisors, and others who are contributing to the development of the project using Smart contracts which usually lock a certain amount of the tokens until contract conditions are met.
What are the Benefits of Vesting?
One of the main benefits is that it ensures that the Tokens Allotted to the team or Treasury Reserve remains locked and will only be unlocked on the date stipulated in the Smart Contract.
This protects early investors from large price fluctuations.
Token lockup provides time for a product to be developed and launched, especially if there is no prototype yet.
The LOCKS in the Ravendex Ecosystem
At Ravendex, we take transparency into account as it’s crucial for a project like ours knowing fully well that tokens lock-up is essential to offer the most reassuring and secure trading environment possible around Our project regardless of the fact that we are choosing to remain Undoxxed.
To do this, we have set up a tokens LOCK strategy that covers all the main wallets holding a substantial amount of the project tokens, let’s get into the details.
🔒 Team Tokens
Rave tokens allotted to the project team will be fully locked via time contract for a period of 18 months Days months concerning 100% of the total amount, then a percentage will be released every month after the initial period at 10% per month.
🔒 Staking & Nest Creation Rewards Tokens
12% of the total supply of $RAVE is set out to reward stakers who would Stake their Rave Tokens & Rave NFTs to earn passive income in Rave.
The are locked in a two-year linear release vesting contract. Here is the Lock Proof.
🔒 Rave Vault
The project Vault will be fully locked in a time smart contract for a maximum of 2 years.
Thereafter, only the community will be allowed to reach a consensus on whether to access the Vault or re-lock it.
The lock Smart Contracts are being Developed as we speak and once completed, we will proceed with locking the $RAVE tokens as stated below and updating this post with the lock proofs.
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