Vesting
Auch bekannt als: Token Vesting, Vesting Schedule, Token Unlock
A scheduled release of tokens over time, preventing large holders from selling all at once and protecting price stability.
Vesting is a token distribution mechanism where tokens are released gradually over time rather than all at once. This protects projects and investors from sudden sell pressure by ensuring team members, early investors, and partners receive their allocations incrementally.
Why Vesting Exists: - Prevents immediate dumping after token launch - Aligns long-term incentives with project success - Reduces market manipulation - Demonstrates team commitment
Typical Vesting Components:
Cliff Period: - Initial period with no tokens released - Usually 3-12 months - After cliff, linear vesting begins - Example: 6-month cliff, then 24-month linear
Linear Vesting: - Tokens released evenly over time - Monthly or block-by-block unlocks - Most common vesting type
Vesting Schedules by Stakeholder:
| Group | Typical Schedule | Rationale |
|---|---|---|
| Team | 1-2 year cliff, 3-4 year vesting | Long-term commitment |
| Advisors | 6-12 month cliff, 2-year vesting | Continued guidance |
| Seed Investors | 6-12 month cliff, 2-year vesting | Early risk, longer wait |
| Public Sale | 0-6 months, shorter vesting | Retail liquidity |
Token Unlock Events: - Large vesting unlocks can cause price volatility - "Unlock calendars" track upcoming releases - Smart investors monitor unlock schedules - Tools like TokenUnlocks.app track these
Impact on Investment: - Check vesting schedule before investing - Large upcoming unlocks may suppress price - Fully vested tokens reduce overhang risk - Longer team vesting signals confidence
Smart Contract Vesting: Modern tokens often have vesting coded into smart contracts, making unlocks transparent and automatic.