Overview
The Recurring Vesting & Payment Contract allows you to create recurring payment streams or token vesting scenarios for any on-chain asset. When using this contract, you must choose which of these two types of payment contracts you want to deploy. You cannot use both methods in a single contract.
- Payment streams: This type of contract allows you to automate payments of a particular token to one or more recipients. Payment streams can be helpful for automating payroll, interest payments, and other similar use cases.
- Token vesting: This type of contract allows you to vest a certain amount of tokens over a specified period of time. You can also create a vesting cliff that allows tokens to be allocated but not retrieved until the cliff period has passed.
The Recurring Vesting & Payment Contract provides:
- Contract-creator specified payment currency, amount, and timeframe.
- Payment recipients that can either claim the accumulated balance at any time or after the vesting cliff has passed.
- Multiple payment streams to different recipients.
- Compatibility with all ERC-20 and ERC-1400 tokens.
You can use the Recurring Vesting & Payment 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 Recurring Vesting & Payment Contract, you must define the following parameters:
- Network: The blockchain where you’re deploying the contract.
- Name: The name of the contract.
- Symbol: The symbol for the contract.
- Token: The address of the token that will be paid or will be vested.
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Token owner: The address you want to be the contract owner. The contract owner is the only address that can manage the contract.
- This parameter is not used to enter the owner of the token in the previous parameter unless you want that address to also be the owner of this contract.
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Payment type: The type of contract you want to deploy.
- Enter 0 to create a payment stream contract.
- Enter 1 to create a vesting contract.
Operating via Bitbond
You can operate your deployed Recurring Vesting & Payment Contract from Bitbond’s Token Tool platform.
- Go to Bitbond.
- Connect your Fireblocks Vault using WalletConnect. Learn how.
- On Bitbond, select whether your contract is for payment streams or token vesting and enter the address associated with the Token Sale Contract you deployed on Fireblocks.
At this point, you can use Bitbond to create and manage your payment stream or token vesting. Learn more by reading Bitbond’s documentation on payment streams and token vesting.