Create NEAR Lockup (Vesting)

NEAR Vault supports two types of lockups: linear release and cancellable with a cliff feature.

Linear Release Lockup

A linear release lockup allows for a gradual release of tokens from a start date to an end date. This type of lockup cannot be cancelled once created.

Cancellable Lockup with Cliff

A cancellable lockup offers a cliff feature, allowing the NEAR Foundation to cancel the lockup at any time and transfer back the unvested amount. If a cliff date is set, the receiver can only start withdrawing tokens after the cliff date has passed.

Prerequisites

• The minimum amount of NEAR for a lockup is 4 NEAR.

• The recipient account ID must be added to the address book.

Create a Lockup

1. Go to: https://nearvault.org/lockup/create

2. Fill in the following fields:

   • Sender Wallet: Select the wallet to fund the lockup.

   • Receiver Account: Select the account to receive the lockup.

   • Token: NEAR (pre-selected, cannot be changed).

   • Amount: Enter the amount of NEAR to be locked up.

   • Allow Cancellation: Toggle on/off to allow or disallow cancellation of the lockup by the NEAR Foundation.

   • Start Date: Select the start date of the lockup.

   • End Date: Select the end date of the lockup.

   • Cliff Date (optional): Select the date when the receiver can start withdrawing tokens. Only available if cancellation is allowed.

   • Allow Staking: Toggle on/off to allow or disallow staking of the locked-up tokens by the owner (even before the cliff date).

3. Review the lockup details and explanation provided.

4. Click on "Create Lockup" to create the lockup contract.

Note: Non-cancellable lockups are not compatible with cliff dates.