The ability to create vesting balances has now been added to the Astro UI!
Thanks for checking out the latest Bitshares Astro UI dev blog!
The Bitshares Astro UI seeks to be an evergreen/greenfield development effort, uplifting the possible Bitshares front end user interfaces into the cutting edge 2024+ technology!
Firstly - What's a Vesting Balance? Why create one?
Vesting balances contain any fees earned through the referral program or from worker pay, for example. They have a certain vesting period and are continually unlocked during that vesting period until all of the balances are available.
Vesting balances are primarily used for worker pay, witness pay, referral program rewards, cashback and market fee sharing.
That's not all they can do though, you can create vesting balances for yourself or other users, using any asset and a variety of options!
There are two vesting balance policies which you can make use of:
Coin Days Destroyed (CCD) - The economic effect of this vesting policy is to require a certain amount of “interest” to accrue before the full balance may be withdrawn. Interest accrues as coindays (balance * length held). If some of the balance is withdrawn, the remaining balance must be held longer.
Linear Vesting with Cliff (LVC) - This vesting balance type is used to mimic traditional stock vesting contracts where each day a certain amount vests until it is fully matured.
OK, but why create a custom vesting balance?
Self-Vesting - proving to the blockchain that you're in it for the long haul, locking up assets on-chain for a set period of time so that people know you've got something at stake; this can potentially boost your ability to get voted in as a witness or committee member!
Vesting to others - Allocating funds to another user at set intervals across a period of time, possibly like a trust fund.
Staking assets on-chain - Locking away assets in vesting balances could result in yielding airdrops by those targeting asset staking accounts. It could also be used to equip a game item in your inventory, like an access card for a limited period of time.
Securing funds in your account - malicious actors cannot access funds locked away in vesting balances, giving you additional time to secure your account/funds.
Demo Time!
The new page can be accessed from the index page under "exchanging funds":
And here's how it looks in action:
So, as you can see from the demo GIF above, you can now:
Create a vesting balance using the "Coin Days Destroyed" policy
Create a vesting balance using the "Linear Vesting with Cliff" policy
Create a vesting balance for either your own account, or any other Bitshares blockchain account via the account search modal.
Use any asset for the vesting balance
Specify exact date + time for when the vesting balance can be withdrawn from
So, what kind of vesting balances are you going to create?
Comment your ideas below!
Big shout out to everyone voting in support of the Bitshares Astro UI worker proposal & to everyone voting on these dev blog posts, your support means a lot to me! :)
Check out the previous hive posts regarding the Astro UI:
