How to Lock / Unlock Positions

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Overview

Position cooldown and unlocking is a key feature of the Standard Money protocol that allows users to secure their USDsd and sUSDsd positions while maintaining flexibility for strategic trading and risk management. This mechanism provides enhanced security, potential reward bonuses, and strategic position management capabilities that help users optimize their participation in the protocol.

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What are Positions in Cooldown?

Positions in cooldown in the Standard Money protocol refer to USDsd or sUSDsd tokens that have been temporarily secured and cannot be transferred or traded for a specified period. When you put a position in cooldown, your tokens remain in your wallet but are marked as locked in the protocol’s smart contracts. During the cooldown period, you cannot transfer, trade, or unstake these tokens, but they continue to earn rewards if they are sUSDsd tokens. This mechanism provides several benefits including enhanced security by preventing unauthorized transfers, potential reward bonuses depending on the cooldown duration, and strategic position management that helps users stick to their investment plans and avoid emotional trading decisions.

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Types of Positions in Cooldown

USDsd tokens can be put in cooldown to secure your position and potentially earn additional rewards. USDsd in cooldown maintains its value and can be unlocked after the specified period. This is useful for users who want to commit to holding USDsd for a specific timeframe and benefit from the security and potential bonus rewards that cooldown provides. sUSDsd tokens can also be put in cooldown, and they continue to earn rewards during the cooldown period. sUSDsd in cooldown may earn bonus rewards depending on the cooldown duration and current protocol parameters. This is ideal for users who want to maximize their yield while committing to a longer-term position and benefiting from both regular rewards and potential bonus rewards.

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How to Put Positions in Cooldown

The cooldown process is designed to be straightforward and user-friendly. First, ensure you have MetaMask or another compatible wallet connected and sufficient BSC for gas fees. Verify you have USDsd or sUSDsd tokens to put in cooldown, then navigate to the Standard Money app and find the “Cooldown Positions” section. Select the type of token you want to put in cooldown (USDsd or sUSDsd) and choose from available cooldown periods, which typically include 1 week, 1 month, 3 months, 6 months, and 1 year options. Review the potential bonus rewards for each duration and consider your investment timeline and risk tolerance when making your selection. Enter the amount of USDsd or sUSDsd you want to put in cooldown, review the cooldown terms and conditions, and confirm you understand the cooldown period and restrictions. Complete the transaction and wait for confirmation. Your position will be marked as in cooldown and you’ll receive confirmation of the cooldown period and any bonus rewards.

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Cooldown Duration Options

The protocol typically offers several cooldown duration options, each with different benefits and considerations. Shorter cooldown periods (1 week to 1 month) provide more flexibility but may offer lower bonus rewards. Medium-term cooldown periods (3-6 months) balance flexibility with enhanced rewards. Longer cooldown periods (1 year) offer the highest potential bonus rewards but require the longest commitment. Each duration option comes with specific terms regarding bonus rewards, early unlock penalties, and other conditions. Users should carefully review these terms before committing to a cooldown period to ensure they understand all implications and benefits.

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How to Unlock Positions

Most positions in cooldown unlock automatically when the cooldown period expires. Once unlocked, your tokens return to their normal state and can be transferred, traded, or unstaked as usual. You will receive a notification when your position is ready to unlock, and you can then access your tokens normally. To unlock a position manually, navigate to the Standard Money app and find your position in cooldown. Check the unlock date and status, then follow the unlock process if the cooldown period has expired. Complete the unlock transaction and wait for confirmation. Your tokens will be returned to their normal state and you can use them as usual.

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Benefits of Cooldown Positions

Putting positions in cooldown provides an additional layer of security by preventing unauthorized transfers or trades. This is particularly valuable for users who want to protect their positions from potential security breaches or impulsive trading decisions. The cooldown mechanism acts as a safeguard that requires time and confirmation before any changes can be made to your position. Positions in cooldown often earn bonus rewards compared to unlocked positions. The longer the cooldown period, the higher the potential bonus rewards. This incentivizes long-term commitment to the protocol and provides additional yield for patient investors who are willing to commit their tokens for extended periods. Cooldown allows for strategic position management, helping users stick to their investment plans and avoid emotional trading decisions. It’s particularly useful for users who want to commit to a specific investment timeline and benefit from the discipline that cooldown periods provide.

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Risks and Considerations

The primary risk of putting positions in cooldown is reduced liquidity. Once in cooldown, you cannot access your tokens until the cooldown period expires (or until early unlock with penalties). This means you cannot respond to market opportunities or emergencies that might require immediate access to your funds. During the cooldown period, market conditions may change significantly. If you need to exit your position due to changing market conditions, you may be unable to do so without penalties, potentially resulting in losses. This risk is particularly relevant during periods of high market volatility or unexpected events. If early unlock is available, it typically comes with penalties that can significantly reduce your returns. These penalties are designed to discourage early unlocking and maintain the integrity of the cooldown mechanism. Users should carefully consider whether they can commit to the full cooldown period before putting positions in cooldown.

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Best Practices

Select a cooldown duration that aligns with your investment timeline and risk tolerance. Don’t put positions in cooldown for longer than you’re comfortable with, as this could limit your flexibility in changing market conditions. Consider your financial situation and whether you can afford to have your tokens locked for the entire cooldown period. Consider putting only a portion of your holdings in cooldown, keeping some tokens unlocked for flexibility. This allows you to benefit from cooldown rewards while maintaining some liquidity for opportunities or emergencies. This balanced approach can help you maximize rewards while maintaining necessary flexibility. Regularly check your positions in cooldown and their unlock dates. Set reminders for when positions are about to unlock so you can make informed decisions about whether to put them back in cooldown or unlock them. This proactive approach helps you manage your positions effectively and make timely decisions. Before putting any position in cooldown, thoroughly understand the terms, including cooldown duration, bonus rewards, early unlock penalties, and any other relevant conditions. Make sure you’re comfortable with all aspects of the cooldown before committing your tokens.

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Troubleshooting

If your position doesn’t appear as in cooldown after the transaction, check the transaction status on BSCScan to ensure it was successful. Verify you’re looking in the correct section of the app and refresh the page if necessary. Contact support if the issue persists. If you’re not receiving expected rewards on sUSDsd in cooldown, verify the position is actually in cooldown and check the cooldown duration and bonus reward terms. Ensure the cooldown duration qualifies for bonus rewards and review the current protocol parameters for any changes that might affect rewards. For unlock issues, verify the cooldown period has actually expired and check if there are any pending transactions or network issues. Ensure you have sufficient BSC for gas fees and try refreshing the page or reconnecting your wallet if necessary.