Token locking as part of crypto philanthropy explained

If you are new to the world of cryptocurrency or are interested in learning more about token locking, then this blog post is for you. Now, let’s explore what token locking is, how it works, and its benefits!

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What is token locking?

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Token locking is a process that allows individuals to secure their crypto investments by voluntarily locking up a portion of their tokens for a specified period of time.

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How does token locking work?

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When an individual decides to lock their tokens, they essentially put them in a time-based smart contract. Token locking can be done for different periods of time, ranging from a few days to several years. For instance, with the Giving To Services platform, you can lock your SVS tokens for either 3, 6 or 12 months. In some cases, individuals may be required to pay a fee or penalty if they decide to unlock their tokens before the specified time period has passed.

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Benefits of token locking in crypto philanthropy

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Token locking can be used as a way to reward early investors or community members. In some cases, tokens may be locked up as a way of earning interest or other rewards over time. At Giving To Services, we give back to every member of the public sector who has joined our platform, with 4% of released rewards each quarter.

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Bottom line

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Crypto philanthropy is gaining traction as more individuals and organisations recognise the potential of blockchain to create positive change in the world. As such, token locking is not just a financial strategy, but also a powerful tool for promoting social good and creating a better future for all.

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