In July 2023, Bankless DAO introduced tlBANK - a locked version of BANK token that would give users access to the Bankless DAO Discord and broader ecosystem. Previously, unlocked bank had been used for this purpose.

Hedgey use Case: Hedgey contracts facilitated the ability for token holders to lock their BANK for a set period of time, and receive an ERC-721 token that represented their unique locked token amount and lockup period.

Custom build by bankless DAO: A UI on the Bankless DAO website where users could interact with Hedgey smart contracts to lock tokens for a set period of time.

CollabLand X Hedgey use case: In collaboration with Collabland, a unique Discord gating mechanic was applied to restrict access to specific rooms for users who had fit certain criteria with the locked ERC-721. Specifically, they had to have an active tlBANK position AND have to be the original user to have locked BANK.

SnapShot X Hedgey use case: To allow tlBANK holders the ability to participate in governance, a unique Snapshot strategy was applied that let holders of tlBANK still participate in voting with a 1-1 voting right.

OpenSea X Hedgey use case: Holders of tlBANK can transfer and sell their ERC-721 freely, allowing participants to interact with locked positions separately than unlocked tokens.

Summary: The use of Hedgey time-lock contracts allowed Bankless to create a commnity time-lock program that was also compatible with token gating, governance, and more.