Kudex

Jul 14, 2021

3 min read

Our brand new feature: Kudex Token Locker

Something never seen before on the KuCoin Community Chain: A reliable way to lock (LP) tokens for a set period of time to earn trust from investors.

Kudex is the first fully functional AMM (Automated Market Maker) Decentralized Exchange and Yield-Farm on the KuCoin Community Chain with a brand new feature: Our entirely custom Kudex Token Locker which functions as a fast & reliable way to lock (LP) tokens for a set period of time.

Locking tokens will guarantee investors that it’s physically impossible to remove any amount of liquidity from the LP, or sell locked tokens.

Basically, becoming rug-pull proof for the time the tokens are locked.

The fee for using the token locker is adjusted according to the price of KUD. These funds will be sent to the fee address and held/burned to stabilize the price of KUD. This means that not only the locking mechanism realizes a safer place for investors, it also stabilizes the economy of Kudex.

Step 1 — Excluding transfer taxes: If your token has a special transfer mechanism such as a transfer tax, make sure to exclude the token locker from it first. This step is very important!

Step 2 — Token Address: Enter the address of the (LP) token you want to lock

Step 3 — Owner Address: Enter the address of the wallet that can unlock the tokens when the locking period ends

Step 4 — Tokens to Lock: Enter the amount of tokens you want to lock up

Step 5 — Unlock Date: Choose the unlock date & time: the point in time at which the tokens will become unlockable

Step 6 — Logo: Enter the URL to a .png image of your token logo (64x64 or 128x128 etc, imgur.com is recommended)*

Step 7 — Approve the transaction: After the transaction is completed, you can create your lock to finalize the process

Step 8 — Create the lock: After the transaction is completed, your tokens are locked for the chosen period of time.

“Can I in any way revert the transaction after approving the form?” — No, you can’t. After the tokens have been locked, the only way they can ever be unlocked is after the chosen time period has passed. This can only be done by the owner address.

“I have no access to the owner address anymore. Can you unlock my tokens?” — No, as mentioned above, the only possible wallet to unlock the tokens is the owner address.

“Why would I lock my tokens at Kudex? — Our goal is to become the main DEX of the KuCoin Community Chain. We want to motivate developers to launch their projects on Kudex that can be trusted by the KuCoin Community.

“I want to update the token logo image of the locker. How can I do this?” —Send us a DM in Telegram to apply for the replacement of your logo.