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Unlock Mechanism

Understanding how you will get your fund back.

1. Unlock Start Time

Your locked funds will be unlocked once the Lock Phase has ended.
This means that the Unlock period starts when it's no longer possible to commit a lock, and the lock action is disabled.

2. The Lockdrop Unlock Mechanism

When users commit a lock, they will receive immediately the same amount of zkUSD tokens in their wallet, which can be seen on zkSync Explorer.
For example, if a user locks 100 USDC in a vault, they will immediately receive 100 zkUSD in their wallet.
Add zkUSD Address to see your zkUSD balance in your wallet.
The zkUSD they are holding is then categorized as either Unlocked zkUSD or Locked zkUSD within the same contract address.

Unlocked zkUSD

You can use unlocked zkUSD to:
  1. 1.
    Swap back to any stablecoins at Goal3 Portal.
  2. 2.
    Transfer to another wallet.
  3. 3.
    Place bets on Goal3 Sportsbook.

Locked zkUSD

All Locked zkUSD will be converted automatically into Unlocked zkUSD linearly until it reaches at the end of the lock period.
A detail example: Let's say a user locks 100 zkUSD for a period of 6 months.
So, on day 1 of Vesting Start Time, the user will have 100 Locked zkUSD and 0 Unlocked zkUSD.
However, as each day passes, a portion of the Locked zkUSD will be Unlocked.
By the end of the 1st month, the user will have $16.6 Unlocked zkUSD (which is 1/6th of the locked amount) and 83.4 Locked zkUSD.
The user can use the Unlocked zkUSD to place bets on the Goal3 Sportsbook, swap it for other stablecoins, or send it to another wallet.
After 6 months, all of the zkUSD you are holding will be Unlocked.
Last modified 8mo ago