NODL Token Holder Vesting Guide

Published in

Nodle

4 min readJun 9, 2022

This announcement clarifies the vesting of the NODL token, the native token of the Nodle Network. There are vesting schedules associated with two separate categories: crowdloan contributions and private sales. Different vesting schedules are associated with each of them. This guide provides an overview of the terms and information on how to claim the tokens.

Crowdloan

Participants who contributed to the Nodle Polkadot Parachain Crowdloan received their NODL rewards when the Nodle parachain migrated on May 23rd, 2022. The NODL received for the crowdloan participation has the following terms:

Token Vesting — Crowdloan

NODL Rewards are vested over the duration of the parachain slot lease: 96 weeks. Additional information on the duration of the lease can be found here.

30% of the tokens unlocked when the migration was completed on May 23rd, 2022
The remaining 70% will vest over 96 weeks (lease duration) on a per block basis

Private Sale

Approximately 800 million tokens were sold through private sales last year. The majority of these tokens are now unlocking. Various types of purchase agreements were issued throughout the private sales. Therefore, the token holder should refer to their specific type of contract (e.g. TPA1, 2, 3, 4, and 5) before determining the appropriate vesting period. Use the table below to identify the proper vesting period for a given contract.

Token Vesting Table — Private Sale

How to Claim Your Tokens

➡️ Step 1: Go to the Web Wallet

YOU MUST ALREADY HAVE A WALLET

The instructions assume you have already imported or created a wallet. If not, please refer to the Nodle Documentation.

Simply navigate to https://nodlecode.github.io/polkadot-js-apps/#/accounts.

Note: We recommend using a Chrome-based browser like Chrome or Brave. If you are using Brave (which we recommend), please turn off ‘shields’ as it can cause errors.

➡️ Step 2: Make Sure You Are Connecting to the Nodle Chain Mainnet

Sometimes the Wallet will default to another blockchain, as we interoperate with the Polkadot Ecosystem. If so, go to the top left and select the “Nodle Network.

➡️ Step 3: Go to the Extrinsic Page

Select “Developer > Extrinsics” in the top bar.

➡️ Step 4: Send the Claim Transaction

Under “submit the following extrinsic” select “vesting:”

2. Under “addVestingSchedule(dest, schedule)” select “claim()”:

3. Click “Submit Transaction” at the bottom right. At this stage, you may need to have a bit more Nodle Cash in your account in order to pay for the transaction fee. In order to do this, send some Nodle Cash from your Nodle Cash app to your account claiming the tokens. We recommend sending at least 0.01 $NODL.

4. Sign the transaction (note that for this you will need your password). Now your tokens are unlocked. Please note only the tokens that have completed the vesting will unlock.

About Nodle

Nodle is a decentralized network on Polkadot that provides secure, low-cost connectivity and data liquidity to connect billions of devices worldwide. The Nodle network is powered by millions of Bluetooth-enabled smartphones that earn Nodle (NODL) for providing network coverage. Nodle’s powerful stack connects and secures physical assets, tracks lost or valuable items, captures sensor data, authenticates security certificates and more. Nodle provides insights for consumer electronics manufacturers, enterprises, smart cities, the finance industry and beyond. Since its creation in 2017, Nodle has become one of the world’s largest wireless networks by number of base stations. To join, download the Nodle app for iOS or Android.