Lock — a protocol for safe storing and distributing Ethereum tokens, using smart contracts. With the help of the project, you can just select the token that you want to block and the period of its storage in the contract and confirm the transaction.
Contents:
- Brief information about the blockchain project Lock
- Earnings on the Ethereum platform
- Additional information about dapp
Brief information about the blockchain project Lock
Lock never controls user tokens. The platform has an emergency unlock, which is a security feature that can be activated in the event of a token renewal, an upcoming chain swap or other critical situation when users need to return their tokens.
There are several options for using tokens in term blocking contracts. This includes:
- Savings accounts. The lock can be used as a savings account or certificate of deposit. It can also help to save a specific purpose, such as a future purchase or gift. In such cases, users can simply freeze their funds and set them to be released on the date of purchase.
- Self storage. Locking assets in a smart contract makes users the custodians of their own digital assets. Each user can set parameters for how he wants his assets to be saved and the smart contract will handle everything else.
- Evidence. Once the tokens are locked, users receive proof that the assets are received at a later date.
Vesting is a negotiated future payment. The Lock feature gives users the ability to lock tokens until they are ready to be requested.
Some of the use cases:
| Employee shares or tokens | Block company tokens until the employee has worked for the company for 4 years. |
| Investor retention | The venture capital firm undertakes to hold the company's tokens for 3 years when they invest in the company. |
| Sending multiple transactions | Send tokens to 100 supporters in two years after purchasing the token in a single transaction. |
Lock allows you to send future payments to any specified account automatically.
Earnings on the Ethereum platform
Earnings complement any other use of the platform. Some tokens will allow time-limited funds to receive commission or interest.
Lock works with tokens to earn interest through loans and token fees. Tokens that can be blocked include:
- Compound. Earn interest by providing borrowers with an underlying asset.
- Bancor Relay. Earn commissions with market-based solutions while providing liquidity.
- Uniswap Pool. Earn commissions with market-based solutions by providing liquidity.
- Chai. Earn interest through DAI savings rate.
- IDAI. Earn interest on DAI savings and interest on liquidity in Fulcrum loan pools.
As it grows, the Lock platform aims to become a one-stop platform for blocking, storing and distributing Ethereum-based tokens.
Additional information about dapp
The site lacks White Paper and RoadMap. You can study information about the project through a special document, provided by the developers. You can find the smart contract audit here. The community has here. Из социальных сетей сообщество ведет twitter from social networks. You can send any questions by e-mail.