What’s the difference between a Vesting Schedule and an Unlock Schedule?

Vesting is a legal term that denotes the transfer of legal ownership of tokens from the company to an individual employee or service provider, and usually starts on the first day of employment.

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An Unlock Schedule usually refers to the transfer of control or transferability of a set of tokens to an individual over time, and usually starts on the first day of a project’s TGE or exchange listing.

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While many in the ecosystem use the terms “vesting” and “unlock” interchangeably, Magna separates those concepts so protocols can be explicit about legal information tracked off-chain and what will be distributed on-chain, all within the app.