Incentivize voluntary token lockups after launch with a vested token staking pool

By encouraging your users to turn their unlocked tokens into vestingTokens and adding them to the staking pool, you can create a sense of scarcity for your project token and encourage long-term holding.

In this tutorial, we’ll walk you through the steps of using Unvest’s Staking Pools feature to create and manage a staking pool for vested tokens, and how to enable users to create their own vestingTokens.

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Staking Pool

1. Connect your wallet to the Unvest app and select the correct network. Go to the Staking Pools page.
2. Select the vestingToken that you want users to stake in the pool by pasting the vestingToken contract address.
3. Select the reward token that users will earn by staking in the pool. This should be your project token, or a vestingToken.
4. Enter the amount of reward tokens that you want to distribute to stakers.
5. Set the staking duration for the pool. This is the length of time that users will be able to stake in the pool and earn rewards.
6. You will be prompted to submit transactions to the blockchain to create the staking pool and distribute the reward tokens. Make sure you have sufficient balance in your wallet to cover the gas fees for these transactions.
7. Once the transactions have been successfully mined, your staking pool will be created and users will be able to stake their vestingTokens in the pool to earn reward tokens.

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VestingTokens

1. Share a link to the “Lock more” page on your project’s dashboard, where users can turn their unlocked tokens into vestingTokens.
2. This link will look like this:
   app.unvest.io/vesting/[chainID]/[vestingToken-address]/add
   anyone can use this page to convert their balance of unlocked tokens into vestingTokens.
3. Share a link to your staking pool and encourage users to lock their tokens by highlighting the benefits of staking, such as the ability to earn more of your project token and the opportunity to participate in the growth of your project.

By setting up a staking pool that requires users to stake vestingTokens, you can create a mechanism for users to voluntarily lock up their tokens after the launch of your project.

Encouraging users to turn their unlocked tokens into vestingTokens and participate in the staking pool can help to increase the overall value of your project, as well as create a more engaged and committed community of supporters.