Lock is a protocol for timelocking ETH and ERC-20 tokens. Choose the token to lock and the duration it will be stored in the contract. Then just confirm the transaction. Once the timelock is complete, you (or a designated beneficiary) will be able to claim the tokens.
There are four primary use cases for Lock:
- Hold (HODL) - Protect yourself from yourself. The Hold use case of Lock enables users to store their assets and make sure that they cannot be sold for a certain duration of time.
- Vest - Lock up team or investor tokens Whether you are a founder or an employee, vest makes storing tokens easy.
- Yield Farming and Staking Programs - Incentivize your token holders to lock tokens on the platform and reward them with customized airdrops
- Earn - Make money while storing money. Earn interest and fees through locking tokens from other protocols like Compound or Uniswap.
- Distribute - Programmatic payouts enable future payouts to occur to the same account or a different one at any date and frequency.