DRIVENlock
Liquidity and dev wallet locks to give your investors peace of mind, with support for vesting your dev wallets
DRIVENlock
DRIVENlock dApp
DRIVENlock is the latest product in our ever growing suite of development tools. With DRIVENlock, Developers can gain the trust of their holders by locking the liquidity or the development/marketing wallet of your Binance Smart Chain token.
The locker continues our mission of providing security solutions to the crypto space to facilitate more adoption. The locker is currently available for any Binance Smart Chain projects looking to lock their liquidity or dev wallets.
Because liquidity is the sole value backing any token, it is often important for projects to lock this liquidity to show investors they don't have access to it. This reduces the risks of an event like a rug pull, as the liquidity is locked away and the team cannot access it. While there are other ways a project can scam investors, this is a method that helps to create transparency in a project and provide some peace of mind to investors.
Vesting is a tactic often used by startups alongside options in a company. A team member may be awarded a certain number of options at a specific valuation, but they do not own those options until a specific amount of time has passed. Often, these are done on what is called a "vesting schedule," where a percentage would be released at certain calendar dates. An example would be receiving 1,000 options in a company upon your start date, and then at 2 years you own 50% of the total (500 options), at 3 years you own an additional 25% (250 options), and at the conclusion of the 4th year, you will own the remaining 25%.
Vesting in the cryptocurrency space has a different use case than the startup space. In cryptocurrency, having team wallets on vesting schedules can signify to investors that the team intends for this project to be around for a long period of time, as it is usually in the best interest of the team member to fully vest. This also limits the amount of selling that can be done by the team from these specific wallets.
EasyRenew is a quick lock option where you simply start a new lock once one has been completed. Instead of going through a multi-step process, if you intend to initiate a lock with the same number of tokens from a completed lock, you can do this in only a couple of clicks, saving you time, gas fees, and any unnecessary extra steps.
Last modified 1yr ago