Team Vesting Guide

The Team Vesting System is a vesting protocol that requires project owners to lock their team tokens for a specified period of time. This prevents unlocked team tokens from being available, preventing a potential rug pull.

This feature helps build trust with investors, promoting long-term growth and price stability, and protects against scam projects withdrawing and selling unlocked tokens at or shortly after listing (commonly known as a rug pull).

For a step-by-step video guide, watch our tutorial video below

Follow the steps below to use the Team Vesting feature with GemLock:

Steps to Lock Team Tokens

1. Connect your wallet.

2. Visit https://gemlaunch.io/create-lock.

3. Enter your token or LP token address.

4. Input the token owner's address. The unlocked tokens will be sent to this address.

1. Enter the lock title (e.g., "MoonLambo777 Team Vesting").

2. Input the total amount of team tokens to be vested. You can only input numbers here, not percentages.

1. Check the box labeled "Use Vesting".

1. Important Parameters

   • TGE Date (UTC): This should be the listing date.

   • TGE Percent: The percentage of the first batch of team tokens to be released. This must be a percentage, not a specific number of tokens.

   • Cycle (Minutes): The number of minutes between each batch of vested tokens.

   • Cycle Release (Percent): The percentage of tokens to be released in each cycle after the initial release. This must be a percentage, not a specific number of tokens.

Example:

Your project has 100,000 tokens for vesting in total.

• 20% will be released at the TGE, with the remaining 80% distributed over the next 80 minutes (four cycles of 20 minutes each).

Let’s assume your presale on Gemlaunch ended on May 22nd. At the TGE (2024-05-22T18:39), your team can claim 20% of the total tokens (100,000 x 20% = 20,000 tokens). Every 20 minutes thereafter (on 18:59, 19:19, and 19:39), the next 20% of tokens (100,000 x 20% = 20,000 tokens) will be unlocked.

Parameters to Enter:

• Amount: 100,000

• TGE Date (UTC): 2024-05-22T18:39

• TGE Percent (%): 20

• Cycle (Minutes): 20

• Cycle Release Percent (%): 20

• Your project has 100,000 tokens for vesting in total.

• 20% will be released at the TGE, with 80% distributed over the next 80 minutes (four cycles of 20 minutes each)

1. Click Approve

1. MetaMask will ask you to confirm the transaction and display the associated fee. If you agree, click "Confirm" to complete the approval process.

2. Click "Lock"

1. MetaMask will again ask you to confirm the transaction and display the fee. If you agree, click "Confirm" to finalize the locking process.

Note:

• Team Vesting does not support rebase tokens.

• You must exclude GemLock’s lockup address 0x407993575c91ce7643a4d4cCACc9A98c36eE1BBE from fees, rewards, and max transaction limits to initiate token locking.

How to Claim

When each vesting cycle ends, project owners can visit the GemLock page and unlock the vested tokens by clicking the "Unlock" button.

To renounce ownership of the lock, click "Renounce Lock Ownership". Renouncing ownership transfers it to a dead wallet, preventing any further interaction with the locked tokens. This is irreversible, so only do this if you fully understand the consequences. Gemlaunch is not liable for any losses incurred by renouncing ownership.

If project owners can not withdraw their vested tokens when a cycle expires, they can do so at any time afterward. If they wait until the next cycle expires, they will be able to withdraw both the previous cycle’s tokens and the newly vested tokens.