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What is the LKMEX time lock mechanism and unlock schedule?

The Maiar Exchange chronology begins on the day of its full deployment: November 19. That is day 0 and all lock mechanisms evolve around this date.

This means the LKMEX time lock mechanism begins on the day of the Maiar Exchange deployment.

The Elrond blockchain chronology revolves around epochs of 24 hours. 1 month is thus considered to be 30 epochs. 1 month is 30 epochs. 1 year is 12 x 30 = 360 epochs.

The LKMEX lock mechanism starts as soon as they become available, so before they are claimed.

For LKMEX distributed to EGLD holders during the pre-launch snapshot periods, the unlock schedule is as follows:

  • 10% unlocked 30 days after launch (20 December 2021), 15% unlocked every 30 epochs after 1 year (15 December 2022, 14 January 2023, 13 February 2023, 15 March 2023, 14 April 2023, 14 May 2023)

For LKMEX earned as “locked rewards”:

  • The first 17% are unlocked after 365 epochs, 17% unlocked every 30 epochs after that except for the last two of the 30 epochs when 16% will be unlocked.

To reduce complexity, LKMEX tokens issued over the course of one month will have the same unlock schedule.

For example, assuming the Exchange is deployed on the 01 of the month:

  • LKMEX tokens issued on 01 March, 13 March and 27 March, will all be locked with 01 March as the starting schedule.