What is ‘vesting’, what is a ‘lock’ and what is a ‘cliff’?

The terms ‘Lock’ and ‘Cliff’ refer to the period of time during which no tokens will be distributed or claimable. For example, a one-month cliff means that tokens will not be available until one month after the LBE release.

The term ‘vesting’ refers to the period of time over which token entitlements accumulate until the full amount is obtained. For example, six months vesting means the full amount will be received over a period of six months (30 days per month), with the first availability after one month.

Locks and vesting may be combined. In this case, the vesting starts after the end of the lock period.