Token Lock/Burn

AndromedaSwap will provide a means for users to lock their tokens with a scheduled intended release date at a time in the future. This will pave a way for the savings of tokens seamlessly.

This has to be the most intriguing aspect of the protocol, as it is associated with the safety and authenticity of the protocol from the end of project owners. The token lock/burn feature grants users an avenue to lock and burn their tokens seamlessly.

When a lock is performed on the protocol, users can share the links associated with the given locked tokens with others to confirm or verify. This is also the case in terms of Burns.

The only difference between both of the features is that token locks are temporary, while token burns are permanent.

What does this all mean? It draws us to the phenomenon of “proof of locked liquidity” and “proof of burnt liquidity”.

Proof of Locked Liquidity: This is an avenue in which project owners lock their LP tokens for a scheduled period of time to avoid removal within the timeframe of lock; also having a means by which the community can easily verify the authenticity of the action. You can read more about that in this article. AndromedaSwap facilitates this process from start to finish in a very fluid manner and experience. Proof of Burnt Liquidity: This is an avenue in which project owners burn (or throw away) their LP tokens forever, to an inaccessible wallet or via arithmetic deductions; also having a means by which the community can easily verify the authenticity of the action. When a token is burned, it leads to an increase in value of the token. But in the case of burnt liquidity, it permanently revokes the project owners or associated individuals from removing liquidity from an associated pool. You can read more about that in this article. AndromedaSwap makes it easy to burn tokens as well as show verifiable proof of burnt liquidity tokens.