# Vesting and TGE

**The TGE (Token Generation Event)** is the event during which tokens for a blockchain project are created and issued. The TGE process includes several stages, from token creation on the smart contract to technical implementation and listing on cryptocurrency exchanges.

**Vesting** is the process of gradually allocating tokens of a cryptocurrency project to early investors, developers, or team members. Typically, vesting involves a percentage distribution of tokens over a specific period. In cryptocurrency and blockchain projects, vesting is often used to mitigate the risk of mass token sales on the market, which can negatively impact the token price, and to motivate the team and community to contribute to the project's ongoing development.

**Cliff and Lock-up** are two terms commonly used in the context of vesting and token distribution for cryptocurrency projects. These tools help the cryptocurrency project control token distribution and encourage long-term engagement from participants.

**Cliff** refers to a period during which tokens are not distributed.

**Lock-up** is the period during which tokens cannot be sold or transferred after they are received.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfvSZAXU5PkwLXxKy0kqGCMSPQOcHsM8nZnGKLszAVcYdVXIau3hhnCFYlEzrWQJgaW2UTs7XKUr5pdBr1iP-qS1Hz27r5VeDm53HFqdkx8a6YFSgs88o5golK1s9uLd21RJ3bYaMfvA9nliE2BSJD7Bkau?key=JaJ0FVwcTgqZaibTqAyzDA" alt="" width="375"><figcaption></figcaption></figure>

*\*The TGE and vesting conditions are subject to change at the initiative of the project and are independent of the MDAO Maker site*


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