Introducing the $ILOCK Token
What is Interlock? How does it work? Tokenomics and Release Schedule
What is Interlock
NFT theft and DeFi wallet hacks are the biggest threats to Web3 consumers and centralized security solutions are not prepared to combat them. That’s why we’re building Interlock. We recognize that security works better when products are built bottom-up instead of top-down.
Interlock is creating an ecosystem of community-driven security products to protect DeFi. Powered by the $ILOCK token, we’re here to change the security paradigm with blockchain.
How Does it Work?
It’s simple: centralized security products bring value to the software provider, while users foot the bill. At Interlock, we have decentralized security, incentivized for everyone. That means you stay safe, help build our threat intelligence network, and as we grow, you get a piece of the pie.
Interlock extension users, bounty hunters, enterprise customers and partners collaborate to create a safer Web3, while creating token value and utility for all participants.
$ILOCK Token Value Flow
Community Nodes- People who want to help decentralize Interlock and earn rewards can stake $ILOCK token. They absorb many of the transaction costs of the Interlock network while also earning rewards greater than the outgoing number of ILOCK tokens, allowing a constant ingress and egress of $ILOCK. Interlock’s community nodes take us closer to a fully decentralized security model.
Extension Users- The free ThreatSlayer extension gets you enterprise-grade protection against web threats, like phishing attacks, bad downloads, and scams. And when you choose to share your anonymized security data (nothing personal, we promise), you receive the $ILOCK token (and an extra dose of protection). In the future, extension users can stake to unlock even more benefits.
Security Stakers- Sometimes our product needs some human assistance to determine if a page is dangerous or not. So when you help improve our data set by staking on non-malicious grey area entities, you earn more $ILOCK tokens. Interlock also allows you to stake for yield, as an added bonus.
Bounty Hunters- An underground group of power users that scour the web and click on everything dangerous or malicious-looking. Think bug bounties, but easier to find. They’ll help determine what’s safe or not, and earn $ILOCK tokens for doing the dirty work.
Enterprise & Data Platform Customers — Our platform is also sold to large enterprises. As the enormity of our threat intelligence network grows, our value to our enterprise customers increases. We also sell additional security data products to the enterprises, who can then buy and stake tokens for licensing discounts.
Token Distribution & Release Schedule
Release Schedule
We plan to emit 1 billion tokens over an 86-month period. Here are the first 3 years of emissions, divided into half-year periods. This release takes us up to Q2 2025.
Token Distribution
In addition to the allocation above, we have put aside a percentage of tokens for a community sale to our early supporters, those of you who engage with our project and take a genuine interest.
A more detailed look at our tokenomics is available here: https://docs.interlock.network/token/supply.html
Get Involved: This is where it gets fun. We’re putting aside a percentage of tokens for our early supporters. You can show your interest by joining our Twitter, Telegram and Discord. Get in before the FOMO kicks in.
Please note all details are subject to change at discretion of the Interlock team.
