Hedgey
Customisable on-chain solutions: Token Vesting & Time Locks for DAOs.
Last updated
Customisable on-chain solutions: Token Vesting & Time Locks for DAOs.
Last updated
Coinshift supports Hedgey's token infrastructure, focusing on its two primary use cases: Vesting Plans and Time Locks.
By supporting Hedgey, Coinshift equips Treasury Managers with:
Seamless Token Management- Hedgey streamlines time locks and vesting plan creation
Customisation- Offers flexibility in setting cliff dates, post-vesting lockups, transferability, and more, aligning tokens with organisational objectives
Safety- Hedgey non-custodial approach ensures assets are securely held, specifically in audited escrow contracts
Efficiency and Autonomy- Minimised reliance on intermediaries. Set it and forget it. Tokens will be unlocked automatically based on the cliff dates.
Vesting plans allow on-chain teams to allocate tokens to their members. These plans are fully on-chain, adjustable, and can be tailored to a team's requirements. They are free for both issuers and recipients to manage. The issuer or administrator can incorporate cliffs, backdated start dates, flexible vesting schedules, and even revoke the plan at any time.
Follow the below steps to create a vesting plan:
Navigate to the Apps section on your Coinshift dashboard.
Locate and select Hedgey from the list of dApps.
You will be presented with a window displaying the supported networks. Choose a Safe from any of the networks that are compatible with the Hedgey.
Select the Safe for this operation and click Open App.
Your Safe is now connected to the Hedgey interface.
Select the User Type. Assuming you're the Token Manager and want to create and manage vesting plans for your team members.
Click on Get Started for the Token Manager option.
In the next window, click on the Vesting Plans option.
If you're an admin, you'll see all vesting plans set up by you in the Issued Vesting Plans section.
Team members can check plans received by their token manager in the Received Vesting Plans section.
To create a new vesting plan, click on the Create a Vesting Plan button.
There are a few steps to set up a vesting plan:
To set up a vesting plan, enter/select the following details:
Select the token or paste the token contract address
Unlock frequency (linear, periodic, or single)
For Linear unlock frequency choose a vesting term in years or in months. Add a cliff duration (if any) or add "0" for no cliff
For Periodic unlock frequency, select the unlock period schedule (monthly, yearly, or custom) first, and then choose a vesting term in years or in months. Add a cliff duration (if any) or add "0" for no cliff
By default, the application uses the linked Safe address as the Vesting Admin address. If needed, you can select the Change Vesting admin address option to assign a different address as the Vesting admin.
This Vesting admin has the authority to stop the vesting plan at any point before it's completed. If the plan is stopped early, any tokens not yet vested will go to the Vesting admin's address.
Enter the recipient's address and amount of tokens they will receive. Select a vesting start date. The vesting start date can be backdated or a future date.
Use the Add option to add multiple recipients to the vesting plan or the Import from CSV option to upload the recipient's details in bulk via a CSV file.
After entering all details, click on the Review, Approve and Distribute buttons. Review the vesting details, and confirm if you are satisfied.
This action will generate a proposal within Coinshift. Attach any relevant notes or labels and then select Create Proposal.
Note that, transaction details are presented in a clear, human-readable format (see screenshot), providing essential information for other Safe Signers to review.
A proposal will be created for the designated Signers to either Approve or Discard as necessary.
Signers can take one of three actions on a proposal:
Proposal Rejection- If any Safe Signer rejects the proposal, it will be discarded Off-Chain.
Proposal Approval and Execution- If the number of votes in favor of the proposal meets Safe's required threshold, the transaction will be submitted to the network.
On-Chain Transaction Rejection- Even after a proposal has been approved, it can still be turned down in the on-chain stage. This can happen if a Safe Signer initially approves the proposal, moving it into the on-chain queue, but other Safe Signers decide to use the On-Chain Rejection option to stop the transaction.
The proposal has received the necessary signatures, as shown in the screenshot below, and the transaction will be submitted to the network.
Wait for the transaction to complete. Once successfully completed, you can reconnect to the Hedgey dApp via your Coinshift dashboard to confirm the establishment of your new vesting plan.
Select View details appearing in the above screenshot for a comprehensive look at vesting recipients and other relevant details.
Use the View option next to a specific recipient's name to inspect their vesting schedule. An option to Revoke the vesting plan linked to a recipient is also available for your convenience.
