TimeAlly (TA) is a decentralized app (DApp) which works based on the pre-set rules through the smart contracts in the Era Swap ecosystem (ESE).
Era Swap Ecosystem comprises of a number of interlinked P2P platforms where users can utilize ES for exchange of services, getting rewards, freelancing and much more.
TimeAlly DApp is designed to distribute rewards to the Era Swap community members for their contribution on multiple platforms of ESE and also govern generation & distribution of ES newly released tokens.
TimeAlly also rewards the TimeAlly contract holders for vesting or holding tokens in a smart contract for a longer period of time.
How can users Vest in TimeAlly?
As discussed, the users can easily vest in TimeAlly by holding their ES in TimeAlly (TA) DApp for a duration of one year or two years, as per their choice.
The number of ES Tokens rewarded to TimeAlly contract holders for staking their tokens will depend upon their vesting period.
Vesting ES for 1 year: 13% (1.08% per month) of the ES tokens will be allocated from the NRT pool that will be distributed among TA vestors.
Vesting ES for 2 years: 15% (1.25% per month) of the ES tokens will be allocated from the NRT pool, that will be distributed among TA vestors.
Here are the detailed steps to start vesting your ES in TimeAlly DApp:
Step 1
At first step, the user needs to “create or add wallet” on the Era Swap Life platform which provides a Single Sign-On (SSO) gateway access to multiple utility platforms of ESE.
Step 2
The users, who already have added their wallet on Era Swap Life can access it using three different options:
- Keystore File
- Access through mnemonics
- Private key
Step 3
Select any of the three options and enter the relevant details to get access to the wallet and ESE dashboard.
Step 4
The user should now click on the TimeAlly Icon present on the ESE dashboard.
Step 5
Once the user lands on TimeAlly DApp, he should click on the “stakings” option present on the navigation bar.
Step 6
Click on the “New Staking” option, after which the user can easily see the detailed terms & conditions related to token vesting. Click ‘proceed’ after you read T&C.
Step 7
Now the user should enter the amount of ES he wants to stake and the staking duration, i.e., one year or two years. After that, select next.
Step 8
The user should now approve the vesting request. No funds will be debited from the user account at this step.
Step 9
Now, the user will see an approve function. Click on the proceed button.
Step 10
After confirmation of the transaction, the entered amount of ES for staking will get debited from the user’s wallet. The user will also have to pay network fees for confirming the request.
Step 11
At last, users can go to staking section to see a detailed record of all their tokens, including staking amount, time, benefits, etc.
Note: The users will get the rewards for token vesting in the form of 50% liquid ES and 50% in their TimeAlly.
So, the wait is over now. Vest in https://www.timeally.io/. Also subscribe to Era Swap youtube channel to understand now to vest ES in TimeAlly DApp.
