Cliff
In cliff vesting for cryptocurrencies, a certain percentage of the tokens or coins awarded to an individual or team are not immediately available, but become available after a certain period of time has passed, typically one year. At the end of the one-year period, the individual or team becomes fully vested in the tokens or coins, meaning that they have full ownership of them and can sell or trade them as they see fit.
Cliff vesting is often used in initial coin offerings (ICOs) or token sales as a way to incentivize team members to stay with the project for a certain period of time and to ensure that they are committed to the long-term success of the project. By delaying the availability of a portion of the tokens or coins, the team members are motivated to continue working on the project and contribute to its success.