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What is a policy and how to create one

What is a policy?

A policy is more than just a unique identifier that defines who can submit changes to the policy(the holder of the policy keys) for your project; it's also a guarantee to buyers that you won't change anything after it's been locked. It is a critical topic, and we recommend that you show your policy ID to your customers so that they are not scammed by other projects attempting to impersonate your project.

How to choose a locking date

Please choose a locking date that allows you enough time after your project has sold out to make any necessary changes like updating the metadata of tokens or burning specific tokens. If you are going to add multiple collections, but you want to keep the same policy ID for them, consider using a never locking policy or a policy that locks first after you completed all collections.
Please keep in mind that it is not possible to extend the policy's expiration date! Once a policy is locked you have to create a new one.

What happens if a policy locks

Once a policy is locked, you will not be able to mint new NFTs on this policy, nor will you be able to burn or edit any tokens. The policy locking date cannot be changed, so choose wisely.