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Vested Transfers

xx Coins can be transferred between accounts on a release schedule that unlocks a constant number of tokens at each block. This is known as a Vested Transfer.

Vesting transfers are often preferred over regular balance transfers for transferring funds for bounties, sales, etc. When using a vested transfer, the recipient receives xx coins that cannot be transferred but can be used in other parts of the protocol such as voting in governance or being staked as a validator or nominator.

This page explains how to perform Vested Transfers on the xx network Blockchain using the xx network Web Wallet.

Procedure​

  1. In the xx network Web Wallet, navigate to Developer > Extrinsics or click this direct link to Extrinsics

Select Sending Account ID​

  1. In the field labeled using the selected account, select the sending account ID.

Select Extrinsic Type​

  1. In the field labeled submit the following extrinsic, select "vesting".

  1. Next select vestedTransfer(target, schedule).

Select Receiving Account ID​

  1. In the field labeled Id: AccountId, select the receiving account ID.

Input Schedule and Vesting Info​

  1. In the filed labeled locked: u128, enter the total amount of xx to be transferred. See Formulas
  2. In the field labeled perBlock: u128, enter the amount of xx to be transferred per block. See Formulas
  3. In the field labeled startingBlock: u32, enter the block at which the transfers will start. See Formulas

Submit and Authorize Transaction​

  1. Click the "Submit Transaction" button.
  2. Authorize the transaction by entering the sending account password and clicking "Sign and Submit"

Formulas​

The following formulas calculate the fields of schedule: PalletVestingVestingInfo.

Calculate locked​

  • Formula: Amount of XX * (10^9)
  • Example:
    • To vest 100 XX
    • Calculate: 100 * 1,000,000,000
    • Enter: 100,000,000,000

Calculate perBlock​

  1. First, determine your vesting period:

    • 1 month ≈ 438,000 blocks
    • 6 months ≈ 2,628,000 blocks
    • 1 year ≈ 5,256,000 blocks

  2. Calculate per block amount:

    • Formula: (Locked Amount) / (Number of Blocks)
    • Example for 100 XX over 1 year:
      • 100,000,000,000 / 5,256,000
      • Enter: 19,025

Calculate startingBlock​

⚠️ Do NOT use 0 (zero) as starting block as this causes immediate vesting.

  1. First, determine the current block:
    • The current block is displayed in the upper left of the Web Wallet interface.
    • See the previous image. It has been highlighted in a RED box.
  2. Calculate starting block:
    • Formula: current block + desired delay in blocks
    • Example delays:
      • 1 hour delay = current block + 600
      • 1 day delay = current block + 14,400
      • 1 week delay = current block + 100,800

Example Vesting Schedules​

Here are some pre-calculated values for common vesting scenarios (using 100 XX as example):

6-Month Vesting​

  • Locked: 100,000,000,000
  • Per Block: 38,050
  • Starting Block: [current block + desired delay]

1-Year Vesting​

  • Locked: 100,000,000,000
  • Per Block: 19,025
  • Starting Block: [current block + desired delay]

2-Year Vesting​

  • Locked: 100,000,000,000
  • Per Block: 9,512
  • Starting Block: [current block + desired delay]

Tips​

  • Always double-check your calculations
  • Test with a small amount first
  • Recipient cannot transfer vested tokens until they are unlocked

Support​

If you need assistance, you can: