What are locks in cryptocurrencies?

🔐 Locks in cryptocurrencies refer to a situation where tokens or cryptocurrencies are blocked for a specific period of time.

The owner cannot sell or transfer these assets until the lock-up period ends. Locks are used to protect projects from sell-offs in the early stages or encourage long-term ownership of assets. ♻️💲💰

They are often applied when distributing tokens to the project team, investors or in staking programs. This helps stabilize the market and avoid sudden price fluctuations. 

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