Token vesting is fundamental to tokenomics design because it controls supply pressure and incentive alignment. When a project launches, founders, employees, and early investors typically receive large token allocations. Without vesting, these parties could immediately sell their holdings, flooding the market with supply and crashing the token price. Vesting schedules typically include a cliff period (no tokens unlocked for months or years) followed by a linear or graduated release phase. Vesting schedules vary significantly by stakeholder type. Team members might have a 1-year cliff followed by 3-year linear vesting (4 years total). Early investors might have a 6-month cliff and 2-year vesting. Public token sales often have no cliff or a short cliff with faster vesting. The design reflects the incentive structure: longer vesting for insiders who shaped the project, shorter vesting for public participants. For investors, vesting schedules are critical unlock catalysts. Each vesting event releases new supply into the market, creating potential price pressure. Understanding a project's vesting schedule across all stakeholder groups—team, advisors, treasury, investors—reveals the timeline of supply dilution and helps forecast future unlock events.