A period at the start of a vesting schedule during which no tokens are released. After the cliff (typically 6-12 months), tokens begin unlocking on the regular vesting schedule.
A period at the start of a vesting schedule during which no tokens are released.
After the cliff (typically 6-12 months), tokens begin unlocking on the regular vesting schedule.
This is a key building block of decentralized finance. Understanding it helps you navigate DeFi protocols safely, evaluate yield opportunities, and avoid common pitfalls.