Locker info

What is a Locker?

Loker is a platform on which any user of the TON blockchain can lock their tokens, i.e. remove the possibility of transferring or selling them.

Why do I need to block tokens?

The tokenomics of most cryptocurrency projects involves an even increase in the number of tokens in circulation. For example, a project may establish that every month for a year, exactly 1% of the total token issue will be allocated to marketing. In such a case, the project may lock 12% of the tokens in the JVault Locker with a 12-month even vesting period to ensure investors that they will be utilised according to tokenomics.

In addition, many token investors often have a plan to not sell their holdings for some extended period. In such cases, Loker would be suitable to safeguard the investor from impulsive sales due to rate fluctuations or other reasons.

How it works

Any user can lock any TEP-89 eligible tokens in JVault Locker. To do this, just configure the necessary lock information (time and size of the first token unlock, number and duration of vesting cycles, future owner of the tokens) and send the tokens to a specific smart contract. After the transaction is sent, the future owner of the locked tokens will receive a Soulbound-NFT, where the onchain stores all the information about the lock. To unlock the tokens in the future, a transaction has to be sent to the Soulbound-NFT address.

Advantages of JVault Loker

• Low fees Locking any token including gas payment will cost the user only 0.63 TON.

• Reliable smart contracts and decentralisation Loker, like the rest of JVault's services, is built on open-source smart contracts whose code has been repeatedly verified by independent developers.

• Clear visibility of locs By using Soulbound-NFT as proof of ownership of locked tokens, it is possible to view information about tokens frozen in Loker on Getgems or in any wallet app.