Token Locking is essentially a form of pre-staking that allows users to lay claim to a Launchpad project in the meantime before our staking feature is fully operational.
Similar to staking, locking is handled by a smart contract, where users can lock up some of their NXTT tokens to show engagement for a certain project and - in our case - to participate in Launchpad projects.
While locking itself does not yield profits, it will allow users to seamlessly transition to profit-producing staking in the near future.
Users can set up locking from the Launchpad page and can only have it set for a fixed lockup period. Users cannot access locked up tokens until the end of the lockup period.
Once the lockup period is over, the user can retrieve their tokens via a smart contract action. Tokens will remain locked until the user retrieves them.
Lockup period is exactly 168 hours (7 days). Maximum amount of lockup is 10 000 000 NXTT. Additional lockups restart the lockup period.