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Team Token Locks

Introduction

Team token locks are mechanisms that enable crypto projects to secure tokens allocated to the team in a decentralized, time-locked smart contract vault. This ensures that tokens reserved for the team or founders remain inaccessible for withdrawal or modification until the predetermined lock period expires. Such measures enhance trust, as they reduce the potential risk of fraudulent activity for the community and investors.

Third-party token-locking services play a pivotal role in modern token offerings by providing an additional layer of accountability. These services prevent projects from reneging on their commitments or engaging in malicious practices, such as prematurely liquidating their tokens, which could drastically devalue the token and harm stakeholders.

By utilizing platforms like Team Finance for team token locks, crypto projects can transparently demonstrate their token vesting schedule, signal long-term commitment to the project, and bolster credibility, thereby minimizing scam risks and fostering investor confidence.

Getting Started

In this tutorial, you will learn how to lock liquidity using Team Finance. Let's get started!

1. Navigate to Team Finance Team token locks and click on "Create team token lock".

2. Connect your wallet to Team Finance by clicking on "Select Wallet" and click "Continue".

3. Select Kaia under the blockchain networks and click on "Continue".

4. Enter the Token address of your KAIA token in the input field, verify and click "Continue".

In our case we are using KTT token made on Kaia chain.

5. Add the details of the team token lock, including the Lock amount and Lock duration. Click "Continue" to proceed.

In this case, we have locked 1000KTT tokens until January 1, 2026.

6. Click on "Give Permission" and go to your wallet to sign the transaction.

7. You will receive a confirmation message once you have signed. Click "Continue" to proceed.

8. Now, verify the details of your team token lock and click "Confirm transaction" to finalize the lock. Go to your wallet and sign the transaction to complete the process.

9. Once confirmed, you will be re-directed to a page where it shows the status of the transaction. Please refrain from navigating away from the page until the transaction is confirmed.

10. Congratulations! You have successfully created a team token lock using Team Finance. You can view the details of your lock and track its progress on the dashboard.