Frequently Asked Questions

General Questions

What is LockFi?

LockFi is a platform built on Solana that allows users to lock and burn tokens with full transparency and minimal fees.

What blockchain does LockFi use?

LockFi is built on the Solana blockchain.

How do I contact support?

You can reach our support team at [email protected].

Token Locking

What is the fee for locking tokens?

LockFi charges a one-time fee of 0.05 SOL per lock creation. We do not take any percentage of your tokens.

What types of vesting schedules are available?

LockFi offers cliff vesting (all tokens unlock at a specific date) and linear vesting (tokens gradually unlock over time, with an optional cliff period).

Can I cancel a lock once it's created?

No, once a lock is created, it cannot be canceled or modified.

Can I lock any token on Solana?

Yes, you can lock any SPL token on the Solana blockchain.

Who can claim the locked tokens?

By default, the wallet that created the lock can claim the tokens once they're unlocked. You can also specify a different beneficiary wallet during lock creation.

Token Burning

Is token burning permanent?

Yes, token burning is irreversible. Once tokens are burned, they are permanently removed from circulation.

How do I verify that tokens were actually burned?

All burns on LockFi are recorded on the Solana blockchain and can be verified through the solscan.io link that will be displayed right after burning.

Exploring

Do I need to connect my wallet to explore locks?

No, the Explore page is public and can be accessed without connecting a wallet.

Can I search for specific locks?

Yes, you can search by token name, symbol, wallet address, or lock ID on the Explore page.

Staking

When will staking be available?

Staking features will be launched soon. Follow our Twitter for announcements.

What will the APY be for staking?

Specific APY rates will be announced closer to the staking feature launch.

Security

Are my tokens safe when locked on LockFi?

Yes, locked tokens are secured by smart contracts on the Solana blockchain. LockFi does not have custody of your tokens.

Technical Questions

What wallets are supported?

LockFi supports most popular Solana wallets, including Phantom, Solflare, Backpack, and others.