Vesting
A schedule that gradually unlocks tokens for the team, investors and funds: instead of releasing everything at once, tokens vest in portions over months or years. It curbs sell pressure and aligns incentives.
Aliases: vesting, token vesting, unlock schedule
Vesting is a predefined schedule by which tokens gradually “mature” and become available to their holders, rather than being handed out all at once.
Why vesting exists
- It dampens price crashes. If the team and early investors received every token on listing day, mass selling would tank the market.
- It aligns incentives. Long vesting ties the team to the project’s long-term success rather than a quick exit.
- It signals trust. A transparent unlock schedule is a sign of honest tokenomics.
Cliff vs linear vesting
- Cliff — a period during which nothing unlocks. See vesting-cliff. A 12-month cliff means zero tokens in the first year.
- Linear vesting — after the cliff, tokens release in equal portions (daily, monthly) until fully distributed.
- They are often combined: a 6–12 month cliff, then linear release over 24–36 months.
How to read a schedule
- Find the team and investor share of the distribution.
- See when the cliff ends — that is the first large unlock (token-unlock-event).
- Weigh the monthly unlock size against daily volume: large unlocks into thin liquidity press the price.
Context on TON
Major TON jetton projects (NOT, DOGS, X and others) publish vesting schedules in their whitepapers. Before buying, check the upcoming unlock events 6–12 months ahead.