AADA locking

How AADA locking works?

When a private investor purchases AADA with a locking period - we do send the purchased AADA amount into an escrow wallet. Together with the transaction we do declare who is the owner* of the funds and when the locking period ends.
See this example transaction. When person purchased 50,000 AADA. Funds have been sent to escrow wallet with the details stating who is the final receiver end when funds must be released (see figure)
Click on 'Value' on metadata tab on transaction.
* Receiver address has to be split into 2 parts because of metadata limit ('64 bytes UTF-8 encoded’)
Fact that the transaction was made from an address related to one who minted AADA makes it legitimate proof of token ownership for the owner.

How funds will be unlocked?

Once locking period ends. Aada smart contract will execute the rule to send funds from escrow wallet to receiving address.

Is it safe?

Yes - Aada team takes responsibility for holding AADA in an escrow wallet before it's ready to be released. Also, Aada is responsible to make sure funds reach the receiver.

How do I know funds are mine?

Receiving wallet do have the right to AADA, because it is declared with the transaction (it's written on blockchain). ‘Redeclaration’ is not possible. Additionally, both Aada and Receiver will always have proof of delivery/holding.

I’m not convinced.

Good. Let’s take all possible examples and see how they would unfold.
AADA is not allocated to escrow wallet or metadata is incorrect (incorrect initial funding). It’s on us. We make sure wallet is created and funds are allocated with correct metadata stating the right owner of the funds.
AADA token is not released after the locking period ends (no transaction). It’s on us. We make sure funds are sent out once locking ends.
AADA is sent out, but receiver claims he did not get tokens. If funds been sent to wallet address declared on metadata - we know funds reached the right owner.
Last modified 2mo ago