If a vesting schedule is set, any ERC20 tokens in the package can be withdrawn proportionally over the lifetime of the vesting schedule and NFTs will not be unpackaged until the end of the vesting schedule.
When creating an OTC Package, the creator has the option to set a Vesting Schedule:
If a Vesting Schedule is set, the vesting period will be displayed on the OTC Package.
ERC20 tokens inside these packages will vest proportionally by the second over the vesting period. NFTs (ERC721) cannot be unpackaged until the end of the full vesting schedule. For example, if 5000 YDF tokens are placed in a package that has a vesting period of 1 day, then 0.5787 YDF would unlock every second that can be claimed as frequently as the new owner desired. (5000 tokens divided by 86400 seconds in 1 day = 0.5787 YDF vested per second).
Only the original creator of the OTC Package can unpackage all tokens outside the vesting schedule. Any new owner of the OTC Package can only unpackage tokens at the vesting schedule rate, regardless of whether the package is purchased or simply transferred.
There are several use cases for vesting tokens over time. Here are a few of the more common scenarios that might best serve the crypto space.
- Token Launch Pre-sales Projects looking to do pre-sales prior to their launch could utilize OTC Packages with a Vesting Schedule so that the pre-sale buyers will receive their tokens over a set period of time that can coincide with the project's launch or some time after. This would allow the market rate of the new project to stabilize before the pre-sale tokens become available to the pre-sale buyers to use or sell as they see fit.
- Influencer Payments A common marketing tactic for new projects is to offer an influencer a large amount of tokens of the new project as payment for the influencer to advertise the project. Using OTC Packages with a Vesting Schedule will prevent the influencer from selling all of their tokens at once early on. Instead, the influencer can claim the vested tokens over an agreed upon set period of time.
Selecting the Unpackage button will claim ALL vested tokens to your wallet. There is no limit to how often unpacking can be performed.
The user interface will be updated with more detailed information about unpacking in the coming days, and this section of the documentation will be updated accordingly.