New and fun way of distributing newly created tokens to the community.
To lock your Tokens you must follow the procedure explained in a tutorial .
You can lock any amount of Tokens (1 is a minimum) anywhere from 1 block to 4204800 blocks (approx. 2 year period). Think twice before locking your Tokens for a longer period, as it can't be undone. We suggest you to test locking for a shorter time (small amount of blocks) first before going for longer periods.
Locking period resets each time you lock any amount of tokens. So if you lock 5 Tokens for a month, and after 15 days you lock another 5 tokens for a year period: you will have 10 tokens locked for a year. Please be careful when re-applying lock! If you need to lock another batch of Tokens, we suggest opening a new Ethereum account and transferring the second amount of Tokens there, where they can be locked independently.
On Ethereum Blockchain, approximately every 15 seconds a new block is found. This metronome can be represented with data below.
The locking time period is measured in blocks. Locking for 500 blocks means locking for approx. 125 minutes. Locking for 1.000.000 blocks means locking for approx. 173 days. Calculate other time frames accordingly.
With locking your Tokens you will be able to collect yields from the CreditBOND Smart Contract. But be sure to understand, how the yields are calculated first.
from 1 to 175200 blocks (a month) - 1% yield per year
from 175200 to 525600 blocks (3 months) - 3% yield per year
from 525600 to 1051200 blocks (6 months) - 6% yield per year
from 1051200 to 2102400 blocks (1 year) - 8% yield per year
from 2102400 to 4204800 blocks (2 year) - 12% yield per year