A smart contract mechanism that restricts access to tokens or funds until a specified time or condition is met.
What is a Timelock?
A timelock (also called locktime) is a smart contract mechanism that restricts the spending or transfer of cryptocurrency until a predetermined time, block height, or condition is met. Timelocks are fundamental to vesting schedules, governance, and security.
How Timelocks Work
Tokens are deposited into a smart contract with unlock conditions. The contract prevents withdrawals until the specified time passes. Some timelocks release tokens gradually (linear vesting). Others unlock in cliffs — large portions at specific dates.
Why Timelocks Matter
Timelocks prevent team members or early investors from dumping tokens immediately after launch. They build investor trust, ensure project commitment, and protect the community from sudden supply shocks.
Summary
Timelocks restrict token access until specified conditions are met, serving as a critical trust and stability mechanism in crypto projects.
