Forthewin releases new timelock utility with NFT-based unlock keys

Forthewin Community has launched FTW Locker, a time locking utility for NEP-17 tokens. The service is designed to offer Neo-based crypto startups and different customers the instruments to deal with vesting, delayed funds, and different time-restricted transfers.

FTW Locker is now reside on the N3 MainNet. Customers can create new lockers, seek for lockers by their ID quantity, checklist their owned keys, and examine lockers by contract.

Sending tokens to a locker prices 100 NEP tokens upfront. When creating a brand new locker, the consumer can select the token to lock, the amount to lock, the time that the locker may be opened, and which tackle ought to obtain the corresponding key.

Making a timelock with FTW Locker

Locker keys are distributed in NFT kind. This makes it doable for the important thing to vary palms, whether or not by means of a standard switch or by being bought on an change. After the timelock for the locker has elapsed, the NFT key proprietor can use it to retrieve the locker’s contents.

The Forthewin group envisions quite a lot of use circumstances for Locker. Examples embrace vesting (demoed by FTW to vest NEP tokens allotted to the group), performing airdrops and giveaways, paying timelocked wages, and novel types of fundraising.