Timelock simple script

[Nikolas88]

Hello all,

What I’m trying to achieve:
There are some native tokens already minted and destributed in different wallets on mainnet. Is there a way for a wallet or even multiple wallets to time lock those tokens so they can’t be sent for a specific period of time using a simple script and not a smart contract?
If so how can I create this simple script? I took a look at the documentation

input-output-hk/cardano-node/blob/master/doc/reference/simple-scripts.md#Step-1---construct-the-tx-body

But couldn’t do it.
Any help will be appreciated.

Thanks,
Nikolas

[HeptaSean]

You can create an address with a simple script, where spending from that address is not possible for a specified amount of time.

That is what Eternl’s Staking Vault did:

How Eternl's Staking Vault works

The Eternl wallet app has lately introduced their Staking Vault in an attempt to secure the financing of their wallet app. The idea is that you lock an amount of ADA (between 500 and 1 million ADA) for a period of your choice (between 12 and 36 epochs). Since it is locked, they can pledge the whole amount in a private pool, get higher rewards, and give you a share of it, so that you also get higher rewards than in a “normal” pool. I am more or less neutral on the question if this is a good thi…

But you cannot lock circulating tokens at all. If they are in my wallet, I can always spend them.

There are discussions that spending scripts/contracts should be possible, but they are not at all at the moment. And even if they were, such constraints would have to be decided on at mint time, be encoded in the policy and could not be added after the fact.

[Nikolas88]

Thanks for your reply. Actually I’m looking to do what eternl did with Staking Vault.
Can you please describe the steps to create the script in the same way you described the steps to move your ada and your NFT off the locked simple script address?

Thanks