Vesting time lock for custom token on Stellar

linuxchip

All,
I am new to stellar and i need some help from experience people here. I searched this forum before asking but i didnt understand fully

My question is, is it possible to send some tokens to a wallet and restrict that wallet to transact on those tokesn till some period like 6 months ? My need is, user can see their tokens in their wallet, but they can't transfer or trade

Thanks

citystates

auth_revocable - you revoke the authorization right after sending the asset. The user can still keep it in their account but can only transfer it back to the issuing account iirc.

linuxchip

After time period, do we need to make that flag reset to make him trade ?

citystates

You simply authorize the account again, then he can freely send/trade the asset as any other asset.

linuxchip

I read regarding this in Stellar documentation

AUTHORIZATION REVOCABLE flag allows you to freeze assets you issued in case of theft or other special circumstances. This can be useful for national currencies, but is not always applicable to other kinds of assets.

For most cases, you should avoid setting AUTHORIZATION REVOCABLE on your asset. In the past, some issuers have used the AUTHORIZATION REVOCABLE flag in order to impose lock-up periods. However, this is a problematic mechanism because it does not provide the user any guarantees with regard to when or if the assets will be unlocked.

More importantly though, it requires a lot of effort to undo once it has been set. This is because if AUTHORIZATION REVOCABLE or AUTHORIZATION REQUIRED is disabled on an asset, it has no effect on existing user accounts. In order to be able to send your asset to existing accounts after these flags have been turned off, you will still need to run the Allow Trust operation for each existing user account.

Is this correct way or any best way than this ?

Thanks in advance

linuxchip

Also is it possible to unlock in this way

Out of total tokens, 25% will be unlocked after 6 months and in remaining 75%, every 25% will be unlocked for every 3 months

Thanks

linuxchip

@dzham can u please help

dzham

That's the best way for now. Just as you said, disabling AUTH_REQUIRED on an issuing account does nothing to the status of the existing holders, unfortunately. It would have been awesome if it did.

¯\_(ツ)_/¯

linuxchip

We don't have existing holders, so i am thinking best way to move forward

How to do vesting ? Something like out of 100% every 25% for every 90 days

Thanks

Droppix

Hi,

@linuxchip : I am looking for a similar solution, have you found anything?

Thankss

earrietadev

Droppix the solution is what was mentioned at the beginning of the thread: using AUTH_REQUIRED plus authorizing accounts at the time it needs to be