Overview
The Token Locker Contract can be used to enforce lockup periods for your tokens. This may be useful for initial coin offerings, liquidity pools, fundraising events, or other use cases where you want to prevent parties from accessing tokens until a certain amount of time has passed.
The Token Locker Contract provides:
- Transparent lockup period and token dispersal instructions specified by the contract creator.
- Token inaccessibility to any party before the end of the lockup period.
- Compatibility with all ERC-20 and ERC-1400 tokens.
You can use the Token Locker Contract to lock tokens deployed from any template in our smart contract library, such as Fireblocks contracts or other Bitbond contracts.
Deploying
When deploying the Token Locker Contract, you must define the following parameters:
- Network: The blockchain where you’re deploying the contract.
- Token address: The address of any ERC-20 or ERC-1400 compatible token you want to lock.
- Owner: The address you want for the owner of the contract. The contract owner will be able to define the lockup period and withdraw tokens after the lockup period ends.
Operating via Bitbond
You can operate your deployed Token Locker Contract from Bitbond’s Token Tool platform.
- Go to Bitbond.
- Connect your Fireblocks Vault using WalletConnect. Learn how.
- On Bitbond, enter the address associated with the Token Locker Contract you deployed on Fireblocks.
At this point, you can use Bitbond to lock a certain amount of tokens, define an unlock date, and withdraw tokens once they are unlocked. Learn more by reading Bitbond’s documentation.