Pre-Sale Time Locks
Prior to launching the token, there was a pre-sale. The tokens purchased in pre-sale are time-locked and a certain portion of the tokens are unlocked over time.
The contract allows for a Wallet and designated number of tokens to be locked (can't be sold or transferred) for a period of time (designated in seconds). These values can be updated to allow for more tokens to be released from the lock.
The primary goal of the contract and token is to protect holders and protect from any one individual damaging the value of the token by doing a mass sell-off. This is an unfortunate occurrence that happens often in crypto. NIL is focused on building long-term value and building confidence in existing holders and new holders in the future.
Every holder's Time Lock will be based on the Phase they participate in and the amount of NIL they own. The algorithm being used will determine a balance between the health/price/liquidity of the token and reasonable rate of return on the token. All holders will continue to receive Reflections (which will not be locked) and because they participated in the pre-sale they will receive a large portion. And tokens purchased after the pre-sale will not be locked.
The final determination of how pre-sales tokens will be unlocked over time will be published on this site.
A Time Lock is created in the Contract. We add your Wallet Address, Number of Tokens to be locked and the time frame to lock them. The tokens are still in your ERC20 Wallet, but you will not be able to sell or transfer the amount we lock. For example, you may have 1200 Tokens, but we lock 1000. This means you can sell/transfer 200 tokens, but not the other 1000. \
You can check how many tokens are locked by going to Etherscan here: https://etherscan.io/address/0x0eb638648207d00b9025684d13b1cb53806debe4#readContract and clicking on CONTRACT and READ.
And then find the function getLockedAmount. Put your wallet address in the form, and it will show you the locked amount. The format of the number shows no decimal point before the last 8 digits (so you have to do it yourself).
Last modified 6mo ago