Token Vesting

What is Token Vesting?

Token vesting is a process that allows token holders, such as employees, advisors, investors or venture capital firms, to gradually gain access to their tokens over a period of time. One way to implement token vesting is through linear vesting, in which token holders receive a certain percentage of their tokens by month or year until they are fully vested. Another option is a vesting cliff, a set date when ownership of all tokens is released. A vesting schedule outlines the specific terms of the vesting plan, including the vesting cliff and token release rate. An employer or investor may also contribute additional tokens to the vesting plan to incentivize the token holder to remain with the company.

Sphera Token Vesting is a vesting service provider that allows founders to automate token distribution to their team members, advisors, investors, and VCs (venture capitalists).

For Team Members & Advisors

Founders can distribute token equity and salary to employees and contractors. Create a custom vesting plan in minutes and eliminate the need for multi-sender tools to distribute payments bi-weekly manually. Set the vesting schedule, cadence, and cliffs according to their preference.

Benefits:

• Less time. No more checking your spreadsheet and scheduling a send via a multi-sender tool or manually wallet to wallet.

• Reduces errors. Nobody likes an angry message from an investor or employee because of delayed manual sending. Set up your vesting schedule once, and never worry about it again.

For Investors

Founders can distribute tokens seamlessly to multiple investors and VCs.

Create a vesting schedule by uploading your file (CSV, Excel, or Google Sheets) and deploying a vesting contract according to whatever vesting cadence or schedule they have agreed upon with their investors.

Benefits:

• Less time. No more checking your spreadsheet and scheduling a send via a multi-sender tool or manually wallet to wallet.

• Reduces errors. Our system detects errors, flags any mistakes, and helps you fix them rather than sending a generic 'this file has errors' message.

• Reduces token sell pressure. With smaller quantities at more frequent intervals, you can set your investors vesting periods. Set your vesting cadence per block, per day, weekly, monthly or quarterly, and set the cliff.

What Makes Sphera Token Vesting Unique?

1. End the vesting contract for employees/advisors at any time. Sometimes it doesn't work out, or things change. We've created the ability for founders to end vesting contracts at any stage, allowing you to withdraw any unvested tokens from your vesting contract.

2. Claim token dashboard after vesting creation. After deploying your vesting contract, you can use our 'Claim' token dashboard to visualize and analyze your contracts, helping you to make smarter business decisions.

3. Seamless onboarding process. Founders can create custom plans in real time or upload the file of their choice (CSV, Excel, or Google Sheets) in less than five steps.

Token Vesting FAQs

How much does the service cost?

Please check out the Sphera Pricing table to see how much Token Vesting fees are by our 17+ supported blockchains.

What’s the difference between vesting contracts for employees/advisors and investors/VCs?

The main difference between the two is the ability to end vesting contracts for employees and advisors. This is not possible under an investor vesting contract.

How can I end a vesting contract?

For employee and advisor vesting contracts, the admin can end the contract at any time. This can be done via the 'Claim' token dashboard. Once a contract finishes, the admin can withdraw any unvested tokens from the contract, while the end user can withdraw any vested tokens. Investor vesting contracts cannot be ended. Once the contract has been deployed, tokens will continue to vest until the specified end date.

What is a cliff? ⛰️

Cliffs are commonly used in company vesting plans. These plans are often four years in length, with a one-year cliff, meaning that an employee does not receive any shares during the first year before starting their vesting schedule, only after the end of year 1.

How do investors, employees and advisors receive their tokens?

Tokens can be withdrawn via our 'Claim' token dashboard. Here investors, employees and advisors will also have access to a dashboard and the ability to buy/sell their tokens directly from the platform.

What happens if I want to adjust contract details?

Adjusting the vesting contract to change the vesting cadence or extending the vesting date will require a new contract to be created.

Can I add more people after the initial vesting contract creation?

Yes. However, you will need to create a separate vesting contract if you wish to add more wallet addresses in the future after creating the initial vesting contract. There are no limits on the number of wallet addresses that can be added initially.

I’m an investor or employee. Why can’t I see my tokens?

Make sure you’ve connected your wallet address used by the project during the creation of your vesting contract. If the correct wallet is connected, there should be no issue. In case of further questions, please get in touch with our 24/7 support via Telegram or Intercom.