Automate Payments – Create Token Vesting on peaq
Set up a custom token vesting schedule
Define a vesting period and a cliff
Vest tokenized shares and other rights
Send vested tokens to recipients or let them claim tokens
Transfer vested tokens to DeFi for liquidity provision or staking
Create token vesting product documentation
You have to Connect Wallet before creating a new payment
peaq token vesting FAQ
What is token vesting on the peaq network?
What is token vesting on the peaq network?
Token vesting on the peaq network is the process of gradually releasing tokens to a recipient over a specified time period. This method is commonly used to incentivize contributors or teams by ensuring they receive their allocated tokens over time, preventing them from accessing the entire amount at once.
How does the Token Tool vesting function work on peaq?
How does the Token Tool vesting function work on peaq?
Token Tool’s vesting function allows users to set up custom token vesting schedules on the peaq network. You can define parameters such as the recipient’s wallet, start time, cliff period, total duration, and the total amount of tokens to be vested. Once created, the smart contract ensures the tokens are distributed according to the set schedule.
What is the difference between a vesting period and a cliff?
What is the difference between a vesting period and a cliff?
The vesting period refers to the time over which tokens are released incrementally. A cliff is the initial waiting period during which no tokens are released. Once the cliff ends, the remaining tokens begin to vest at regular intervals.
Are there any restrictions on the types of tokens I can vest using this function on peaq?
Are there any restrictions on the types of tokens I can vest using this function on peaq?
Yes, within a single vesting schedule, you can only manage the vesting of one particular type of token. If you need to vest multiple types of tokens, you must create separate vesting schedules for each one. Vesting is available for tokens that follow peaq’s native standards.
Can I change the vesting schedule and recipient wallet address once it's deployed?
Can I change the vesting schedule and recipient wallet address once it's deployed?
While it is possible to modify the recipient’s wallet address using Token Tool’s Manage Token Vesting Collection function, you cannot change the vesting schedule after it is deployed. If you need to alter the schedule, you will need to delete the current vesting collection and create a new one with the updated parameters.
Is there a minimum or maximum duration for vesting periods?
Is there a minimum or maximum duration for vesting periods?
There are no specific minimum or maximum durations for vesting periods on the peaq network. You can fully customize the length of time according to your project’s needs, from days to years.
Are there any fees associated with creating a vesting schedule?
Are there any fees associated with creating a vesting schedule?
Yes, the costs include a service fee paid to Token Tool and transaction fees on the peaq network. The service fee for setting up token vesting is USD 30. Ensure you have sufficient funds to cover gas fees for deploying the smart contract.
Can I vest tokens for multiple recipients simultaneously on peaq?
Can I vest tokens for multiple recipients simultaneously on peaq?
Yes, Token Tool supports the creation and management of vesting schedules for multiple recipients within the same vesting collection.
What happens if I want to end the token vesting schedule prematurely?
What happens if I want to end the token vesting schedule prematurely?
Once a vesting schedule is deployed on the peaq network, it cannot be modified or ended prematurely. However, you can delete the current vesting schedule and create a new one with the desired parameters.
How do I verify the progress of a vesting schedule on the peaq network?
How do I verify the progress of a vesting schedule on the peaq network?
To track the progress of your vesting schedule, you can check the Events History section in the Token Tool’s management interface. You can also verify the progress by viewing the transaction history of the vesting contract on peaq’s block explorer, which will display token distributions and vesting milestones for each recipient.
