Viewing Token Locks
This section of the documentation is dedicated to explaining how users can view token locks on Koincity. Token locks are a crucial feature for enhancing trust and security in token projects, particularly in preventing the risks associated with 'rug pulls'. Understanding how to view these token locks will provide users with insights into the security measures taken by different projects on the platform.
Understanding Token Locks
- Purpose of Token Locks: Token locks are used to secure a portion of the total token supply or liquidity tokens, ensuring that they cannot be moved or sold for a specified period. This practice increases investor confidence by demonstrating the project’s commitment to stability and long-term success.
- Types of Locks: Generally, there are two types of locks – token supply locks and liquidity pool locks. Token supply locks secure a portion of the tokens issued by the project, while liquidity pool locks secure tokens within a liquidity pool, preventing the sudden removal of liquidity from exchanges.
How to View Token Locks on Koincity
- Accessing the Feature: Visit Koincity and navigate to the section dedicated to token locks.
- Browsing Projects: Once in the token lock section, you will see a list of token and liquidity locks. Each listing provides details about the token/pair address and the unlock time.
- Viewing Details: Click on a project to view detailed information about its token locks. This can include:
- The total amount of tokens locked.
- The description of the lock.
- The duration of the lock.
Importance of Token Locks
- Security: Token locks are a sign of a project's dedication to security and stability.
- Investor Confidence: Knowing that a project has locked tokens can increase investor confidence, as it shows a commitment to the project's long-term viability.
- Transparency: The visibility of token lock details adds a layer of transparency to the project, allowing users to make more informed decisions.
Conclusion
Viewing token locks on Koincity is a straightforward process that provides valuable insights into the security and stability measures of various token projects. This feature is instrumental for users and investors in assessing the risk and credibility of projects on the Koinos blockchain. By understanding how to access and interpret token lock information, users can make better-informed decisions regarding their participation in different projects on Koincity.