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Create a time-locked faucet
The bloody brilliant @FEGBalGu from FEG's own dev team came up with a nice and simple way for people to create locked faucet contracts and he has kindly provided this code for free for everyone to use in their own projects.
The contract he came up with allows devs to lock whatever amount of tokens they want into a contract and then they (the devs) can ONLY access the reflections received by said wallet, they cannot use the tokens originally placed in the contract to, for example, sell and dump the price of their token and thus can be used to prevent all these pump-and-dumps.
The code has a 1 year lock time by default, however, prior to the contract deployment, the devs can choose a custom locking period if they so desire.
There is also an option to increase the locking period by whatever number of days is wanted later on, at any point after the faucet contract has been deployed.
The contract also allows the devs to add more tokens manually to the locked contract at any point in time, if they want to increase the number of the tokens used to receive reflections.
The locking period of the tokens inside the contract can easily be checked by anyone, be it devs or investors, so as to make sure the tokens are truly locked, so this is a safe and easy way to lock a portion of a token's supply in order to give confidence in the project for potential investors who are afraid of devs dumping their bag.
Last modified 7mo ago