Docs · Pools
Launch lock
Hold a launch's liquidity in its pools until a date you pick, or for good, while a beneficiary collects every fee it earns.
What it does
LaunchLock puts a launch under a lock with two settings: a beneficiary and an unlock time, either a unix timestamp or FOREVER. The launch owner sends it, once, at any time after the launch, as long as the launch isn't already locked. The beneficiary can't be one of reel's own PDAs.
While the lock holds:
- no launch position can remove liquidity (
LaunchLocked), and the launch can't change owner; - the beneficiary collects the launch positions' fees and is paid the pool's OWNER bucket;
- the pools trade as usual.
Ending a lock
Once the unlock time has passed, the beneficiary sends LaunchUnlock and names the new owner, who then holds the launch with no lock. A lock set to FOREVER (i64::MAX) never ends: the liquidity stays in its pools and the beneficiary collects its fees for the life of the pools.
A lock only moves forward: there is no instruction to shorten or cancel one.
How it differs from the other locks
| Lock | Set by | Covers | Ends |
|---|---|---|---|
| Guard | Anti-Snipe at launch | launch positions' principal | when the guard ends |
| Dev-buy lock | LaunchDevBuy | launch positions' principal | open + lock_secs |
| Liquidity lock | lock_end_secs at launch | launch positions' principal | open + up to 1,200,000 s |
| Launch lock | LaunchLock after launch | principal and ownership, with a beneficiary | the chosen time, or never |
| Position lock | PositionLock on any position | one position's shares | the chosen time, or never |
The first three are fixed when the launch is created and combine into principal_lock_until. The launch lock can be added later, adds a beneficiary, and can last for good.
What to read on chain
The Launch account's beneficiary and lock_until fields, and the LaunchLocked event (launch, beneficiary, until). A pool page can state whether a launch's liquidity is locked for good, until a date, or not at all, from those two fields alone.