Use Cases

These are just some possible use cases for the Lock Protocol.

Hold

Protect yourself from yourself. The Hold use case of Lock enables users to store their assets and make sure that they cannot be sold for a certain duration of time. This could be useful if:

  1. User thinks that a specific cryptoasset will be more valuable in the future

  2. User has limited funds but wants to set aside an amount of savings to not touch

  3. User wants to save up to make a purchase later

Savings Account

Save up for a large purchase. The Savings Account use for lock enables anyone to create a contract that will only unlock once a predetermined amount has been added to the contract. If a user is saving for a product that costs 1,000 DAI but only has 250 DAI right now and doesn't want to spend it, they can lock up what they have and make sure it only unlocks once they have hit the 1,000 DAI mark in their account.

Team and Investor Vesting

Keep the right people incentivized and make sure they don't sell early. Whether you are a founder or an employee, vest makes storing tokens easy. Here are some ways to use Vest

  1. Investors want their token holders to hold their tokens for a certain period of time

  2. ICO purchasers have to wait a year before moving their tokens

  3. Delay an employee receiving tokens for a certain period of time

Distribute

Programmatic payouts enable future payouts to occur to the same account or a different one. Payouts can occur at any frequency at any date in the future. Here are some of the use cases:

  1. Set up an annuity where beneficiary is paid out at a later time

  2. Release money from a will after a certain date

  3. Set up future or regular payouts to people

Incentivizing Liquidity Provision

Exchanges can use Lock to encourage liquidity providers to stay on the exchange. Uniswap tokens can be locked and additional tokens can be airdropped to the liquidity providers.

Earn

  1. User locks Compound tokens or Chai to earn interest in a locked account

  2. User looks Bancor Relay or Uniswap Pool tokens to earn fees for being a market maker

  3. User locks rDai to ensure that they only spend the interest

Make money while storing money. Earning is all about getting interest and fees through various other protocols. Here are some ways your money can work for you:

We also post use case articles on our Medium page if you want to look at them there.

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