Create vesting schedule
We recommend creating vesting schedules per recipient type and schedule parameters as this will ease management of the schedules. For example, let's say you have advisors with the same vesting parameters (start and end date, lock-up, and release frequency) and investors with different parameters. In this case you would want to setup two vesting schedules, one for advisors and the other for your investors.
Tip: You'll want to these details ready on-hand to speed up the process!
- the start and end dates
- cliff/lockup duration (if applicable)
- percentage of tokens released after the cliff (lump sum)
- frequency at which tokens vest after the cliff
- Number of tokens allocated per recipient
Step 1. After successfully minting or importing tokens, click on + Create and select Create schedule in the drop down.
Step 2. Name the schedule. Tip: name your schedule so that it's easy for you to distinguish it amongst other schedules as the name is displayed in your dashboard, vesting schedule page, and cap table.
Step 3. Select if the schedule will be part of an existing vesting contract or if a new contract needs to be created. If you choose to create a new contract you'll need to name the contract in step 3. Whereas selecting to use an existing contract will require you to select the contract name from the drop down in step 3. Once complete hit Continue.
Choose to use an existing contract if every recipient wallet address is new to the contract. The platform will notify you to create a new contract in the event that a wallet address already exists in the contract.
Step 4. Add the recipient(s) receiving tokens by clicking on + Add recipient then add the recipient's name, wallet address, number of tokens granted and the recipient type from the drop down. Select + Add recipient to add more recipients or import a CSV file if you have a large list of recipients.
Step 5. Now configure the parameters of the vesting schedule and add the start date and end date. You can add the start date then click on any of the preconfigured duration chips below which will automatically calculate and populate the end date.
If needed, specify the start time and end time of the schedule. Times are based on your local time zone.
Step 6. Select the cliff duration by clicking on the appropriate chip. If you select Weeks, Months, or Years, two additional fields will be displayed for you to indicate the number of weeks, months, or years and the amount of tokens (if any) that will be released after the cliff.
Step 7. Select the release frequency.
Release frequency definitions:
Continuous - tokens streamed into the recipient's wallet every second.
Daily - tokens released daily at the time set in the time field (if no time is selected then defaults to 12:00 AM local time).
Weekly - tokens released every seven days at the time set in the time field (if no time is selected then defaults to 12:00 AM local time).
Monthly - tokens released every month on the same date and time set in the date and time fields (if no time is selected then defaults to 12:00 AM local time).
Yearly - tokens released annually on the same date and time set in the date and time fields (if no time is selected then defaults to 12:00 AM local time).
Custom - tokens released based on inputted the parameters.
The total number of tokens to be vested for the schedule is automatically calculated and displayed in Step 5.
Step 8. Review your schedule summary and confirm everything looks correct. Make any edits as necessary. Otherwise, click Create schedule.
Step 9. If you'll be using the same parameters for other recipients in the future, then save this schedule by naming the schedule in the top right under Vesting template. Saving your schedules is handy for recipients like employees who you'll create vesting schedules as they on-board to your company.