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Unlocking Token Locks

This section of the documentation explains the process of unlocking token locks on Koincity, emphasizing how users can identify their own token locks by connecting their wallets. This feature is crucial for maintaining control and transparency over one's investments and token holdings.

Understanding Personal Token Locks​

  1. Personal Token Locks: These are token locks that an individual user has set up for their own tokens. These locks could be for securing personal investments or for tokens held as part of a project they're involved in.
  2. Automatic Liquidity Locks: These are token locks that Koincity created automatically for a liquidity pair. These locks have to be configured upon launchpad creation by a project owner.
  3. Purpose of Locks: The primary purpose of these locks is to prevent the premature selling or moving of tokens, ensuring stability in the token’s value and adherence to the project's roadmap.

Steps to Identify and Unlock Your Token Locks​

  1. Connect Your Wallet:
    • Access your Koincity account.
    • Navigate to the section for connecting wallets, typically found in the top-right corner of your browser.
    • Connect your wallet by following the prompts. This usually involves selecting your wallet type and authorizing Koincity to access your wallet information.
  2. Identify Your Token Locks:
    • Once your wallet is connected, navigate to token locks and go to the ‘Inventories’ section.
    • Here, you'll find a list of your token locks. These are identified based on the tokens associated with your connected wallet.
  3. Review Lock Details:
    • Click on a specific token lock to view its details, including the amount of tokens locked, the description, and the unlock date.
  4. Unlocking Process:
    • If a token lock has reached its expiry date, an ‘Unlock’ option will be available.
    • Click on ‘Unlock’ and confirm the action with your connected Koinos wallet.
    • Once confirmed, the tokens will be released from the lock and available in your wallet.

Considerations for Unlocking​

  1. Market Sensitivity: Be aware of the market implications when unlocking large amounts of tokens, especially if they are part of a larger project or investment.
  2. Strategic Unlocking: Plan the unlock strategically, particularly for project-related tokens, to align with project milestones or market conditions.
  3. Transparency with Stakeholders: If the tokens are related to a project with external stakeholders, maintain transparency about the unlocking process to uphold investor confidence.
  4. Technical Support: In case of any issues during the unlocking process, seek assistance from Koincity’s support team.

Conclusion​

Unlocking token locks on Koincity is a user-friendly process, especially with the wallet connect feature that allows users to easily identify their personal token locks. This process is integral for users managing their token investments and ensuring their strategic release into the market. By following these guidelines, users can effectively manage their token locks on Koincity, balancing personal investment strategies with market and project considerations.