diff --git a/contracts/finance/VestingWalletFactory.sol b/contracts/finance/VestingWalletFactory.sol
new file mode 100644
index 00000000000..e723fe4bafe
--- /dev/null
+++ b/contracts/finance/VestingWalletFactory.sol
@@ -0,0 +1,95 @@
+// SPDX-License-Identifier: MIT
+// OpenZeppelin Contracts (last updated v5.6.0) (finance/VestingWallet.sol)
+
+pragma solidity ^0.8.20;
+
+import {IERC20} from "../token/ERC20/IERC20.sol";
+import {SafeERC20} from "../token/ERC20/utils/SafeERC20.sol";
+import {Ownable} from "../access/Ownable.sol";
+
+contract VestingWalletFactory is Ownable {
+    struct VestingSchedule {
+        address beneficiary;
+        address token;
+        uint64  start;
+        uint64  duration;
+        uint256 totalAllocation;
+        uint256 released;
+    }
+
+    mapping(uint256 scheduleId => VestingSchedule) private _schedules;
+    uint256 private _scheduleCount;
+
+    constructor(address owner) Ownable(owner) {}
+
+    event VestingScheduleCreated(uint256 indexed scheduleId, address indexed beneficiary, address indexed token, uint64 start, uint64 duration, uint256 amount);
+    event ERC20Released(uint256 indexed scheduleId, address indexed token, uint256 amount);
+
+    function createVestingSchedule(
+        address beneficiary,
+        address token,
+        uint64 startTimestamp,
+        uint64 durationSeconds,
+        uint256 amount
+    ) external onlyOwner returns (uint256 scheduleId) {
+        require(beneficiary != address(0), "VestingWalletFactory: beneficiary is zero address");
+        require(amount > 0, "VestingWalletFactory: amount is zero");
+        require(durationSeconds > 0, "VestingWalletFactory: duration is zero");
+
+        scheduleId = _scheduleCount;
+
+        _schedules[scheduleId] = VestingSchedule({
+            beneficiary: beneficiary,
+            token: token,
+            start: startTimestamp,
+            duration: durationSeconds,
+            totalAllocation: amount,
+            released: 0
+        });
+
+        _scheduleCount++;
+
+        SafeERC20.safeTransferFrom(IERC20(token), msg.sender, address(this), amount);
+
+        emit VestingScheduleCreated(scheduleId, beneficiary, token, startTimestamp, durationSeconds, amount);
+    }
+
+    function vestedAmount(uint256 scheduleId, uint64 timestamp) public view returns (uint256) {
+        VestingSchedule storage schedule = _schedules[scheduleId];
+        return _vestingSchedule(schedule.totalAllocation, schedule.start, schedule.duration, timestamp);
+    }
+
+    function releasable(uint256 scheduleId) public view returns (uint256) {
+        VestingSchedule storage schedule = _schedules[scheduleId];
+        return vestedAmount(scheduleId, uint64(block.timestamp)) - schedule.released;
+    }
+
+    function getSchedule(uint256 scheduleId) external view returns (VestingSchedule memory) {
+        return _schedules[scheduleId];
+    }
+
+    function scheduleCount() external view returns (uint256) {
+        return _scheduleCount;
+    }
+
+    function release(uint256 scheduleId) external {
+        VestingSchedule storage schedule = _schedules[scheduleId];
+        uint256 amount = releasable(scheduleId);
+        schedule.released += amount;
+        SafeERC20.safeTransfer(IERC20(schedule.token), schedule.beneficiary, amount);
+        emit ERC20Released(scheduleId, schedule.token, amount);
+    }
+
+    function _vestingSchedule(uint256 totalAllocation, uint64 start, uint64 duration, uint64 timestamp) internal pure virtual returns (uint256) {
+        uint64 end = start + duration;
+        if (timestamp < start) {
+            return 0;
+        }
+        else if (timestamp >= end) {
+            return totalAllocation;
+        }
+        else {
+            return (totalAllocation * (timestamp - start)) / duration;
+        }
+    }
+}
\ No newline at end of file
diff --git a/scripts/demoFactory.js b/scripts/demoFactory.js
new file mode 100644
index 00000000000..1dc71790c58
--- /dev/null
+++ b/scripts/demoFactory.js
@@ -0,0 +1,132 @@
+// Local demo: VestingWalletFactory end-to-end walkthrough.
+//
+// Usage:
+//   npx hardhat run scripts/demoFactory.js
+
+const { ethers } = require('hardhat');
+
+const DECIMALS  = 18n;
+const UNIT      = 10n ** DECIMALS;
+const fmt       = n => (Number(n) / Number(UNIT)).toFixed(2);
+const fmtAddr   = a => a.slice(0, 6) + '...' + a.slice(-4);
+
+async function printSchedule(factory, token, id, label) {
+  const s          = await factory.getSchedule(id);
+  const releasable = await factory.releasable(id);
+  const balance    = await token.balanceOf(s.beneficiary);
+  console.log(`  [Schedule ${id}] ${label}`);
+  console.log(`    beneficiary : ${fmtAddr(s.beneficiary)}`);
+  console.log(`    allocation  : ${fmt(s.totalAllocation)} tokens`);
+  console.log(`    released    : ${fmt(s.released)} tokens`);
+  console.log(`    releasable  : ${fmt(releasable)} tokens`);
+  console.log(`    wallet bal  : ${fmt(balance)} tokens`);
+}
+
+async function main() {
+  const signers = await ethers.getSigners();
+  const [owner, alice, bob, carol] = signers;
+
+  const block = await ethers.provider.getBlock('latest');
+  const now   = BigInt(block.timestamp);
+
+  // ── 1. Deploy token & factory ─────────────────────────────────────────────
+
+  console.log('\n══════════════════════════════════════════════════');
+  console.log(' VestingWalletFactory — Local Demo');
+  console.log('══════════════════════════════════════════════════\n');
+
+  const token   = await ethers.deployContract('$ERC20', ['Demo Token', 'DMT']);
+  const factory = await ethers.deployContract('VestingWalletFactory', [owner.address]);
+
+  console.log('Contracts deployed');
+  console.log(`  Token   : ${token.target}`);
+  console.log(`  Factory : ${factory.target}`);
+
+  // ── 2. Mint tokens to owner and approve factory ───────────────────────────
+
+  const totalSupply = 3000n * UNIT;
+  await token.$_mint(owner.address, totalSupply);
+  await token.connect(owner).approve(factory.target, ethers.MaxUint256);
+
+  console.log(`\nMinted ${fmt(totalSupply)} DMT to owner, factory approved.\n`);
+
+  // ── 3. Create three vesting schedules ─────────────────────────────────────
+
+  const start    = now + 60n;              // starts in 1 minute
+  const oneYear  = BigInt(365 * 24 * 3600);
+  const sixMonth = oneYear / 2n;
+
+  // Alice: 1000 tokens over 1 year
+  await factory.createVestingSchedule(alice.address, token.target, start, oneYear,  1000n * UNIT);
+  // Bob:   500  tokens over 6 months
+  await factory.createVestingSchedule(bob.address,   token.target, start, sixMonth,  500n * UNIT);
+  // Carol: 1500 tokens over 1 year
+  await factory.createVestingSchedule(carol.address, token.target, start, oneYear,  1500n * UNIT);
+
+  console.log('Vesting schedules created:');
+  console.log(`  Schedule 0 — Alice  : 1000 DMT over 12 months`);
+  console.log(`  Schedule 1 — Bob    :  500 DMT over  6 months`);
+  console.log(`  Schedule 2 — Carol  : 1500 DMT over 12 months`);
+
+  // ── 4. State at t=0 ───────────────────────────────────────────────────────
+
+  console.log('\n──────────────────────────────────────────────────');
+  console.log(' State at T=0 (vesting just started)');
+  console.log('──────────────────────────────────────────────────');
+  await printSchedule(factory, token, 0n, 'Alice');
+  await printSchedule(factory, token, 1n, 'Bob');
+  await printSchedule(factory, token, 2n, 'Carol');
+
+  // ── 5. Advance to 6 months ────────────────────────────────────────────────
+
+  await ethers.provider.send('evm_increaseTime', [Number(sixMonth) + 60]);
+  await ethers.provider.send('evm_mine');
+
+  console.log('\n──────────────────────────────────────────────────');
+  console.log(' State at T=6 months (Bob fully vested)');
+  console.log('──────────────────────────────────────────────────');
+  await printSchedule(factory, token, 0n, 'Alice');
+  await printSchedule(factory, token, 1n, 'Bob');
+  await printSchedule(factory, token, 2n, 'Carol');
+
+  // ── 6. Release Bob's tokens ───────────────────────────────────────────────
+
+  console.log('\nReleasing Bob\'s tokens...');
+  await factory.release(1n);
+  console.log('  Done.\n');
+  await printSchedule(factory, token, 1n, 'Bob  (after release)');
+
+  // ── 7. Advance to 12 months ───────────────────────────────────────────────
+
+  await ethers.provider.send('evm_increaseTime', [Number(sixMonth)]);
+  await ethers.provider.send('evm_mine');
+
+  console.log('\n──────────────────────────────────────────────────');
+  console.log(' State at T=12 months (all fully vested)');
+  console.log('──────────────────────────────────────────────────');
+  await printSchedule(factory, token, 0n, 'Alice');
+  await printSchedule(factory, token, 1n, 'Bob');
+  await printSchedule(factory, token, 2n, 'Carol');
+
+  // ── 8. Release Alice and Carol ────────────────────────────────────────────
+
+  console.log('\nReleasing Alice and Carol\'s tokens...');
+  await factory.release(0n);
+  await factory.release(2n);
+  console.log('  Done.\n');
+
+  // ── 9. Final state ────────────────────────────────────────────────────────
+
+  console.log('──────────────────────────────────────────────────');
+  console.log(' Final State');
+  console.log('──────────────────────────────────────────────────');
+  await printSchedule(factory, token, 0n, 'Alice');
+  await printSchedule(factory, token, 1n, 'Bob');
+  await printSchedule(factory, token, 2n, 'Carol');
+
+  const factoryBalance = await token.balanceOf(factory.target);
+  console.log(`\n  Factory remaining balance: ${fmt(factoryBalance)} DMT`);
+  console.log('\n══════════════════════════════════════════════════\n');
+}
+
+main().catch(err => { console.error(err); process.exit(1); });
diff --git a/scripts/gasCompare.js b/scripts/gasCompare.js
new file mode 100644
index 00000000000..f20257fd047
--- /dev/null
+++ b/scripts/gasCompare.js
@@ -0,0 +1,165 @@
+// Gas comparison: N separate VestingWallet contracts vs one VestingWalletFactory.
+//
+// Usage:
+//   npx hardhat run scripts/gasCompare.js
+//   N=10 npx hardhat run scripts/gasCompare.js   (Linux/macOS)
+//   $env:N="10"; npx hardhat run scripts/gasCompare.js  (PowerShell)
+
+const { ethers } = require('hardhat');
+
+const N        = parseInt(process.env.N ?? '5');
+const AMOUNT   = ethers.parseEther('1000');
+const DURATION = BigInt(365 * 24 * 3600); // 1 year in seconds
+
+async function main() {
+  if (N < 1) throw new Error('N must be at least 1');
+
+  const signers = await ethers.getSigners();
+  const [owner, ...rest] = signers;
+
+  if (rest.length < N) {
+    throw new Error(
+      `N=${N} requires ${N + 1} signers but Hardhat provides ${signers.length}. ` +
+      `Lower N or add more accounts in hardhat.config.js.`,
+    );
+  }
+
+  const beneficiaries = rest.slice(0, N);
+  const block = await ethers.provider.getBlock('latest');
+  const start = BigInt(block.timestamp) + 3600n;
+
+  const token = await ethers.deployContract('$ERC20', ['Gas Token', 'GT']);
+  console.log(`\nBenchmarking N=${N} beneficiar${N === 1 ? 'y' : 'ies'}...`);
+
+  // ── Approach A: one VestingWallet per beneficiary ─────────────────────────
+
+  const walletDeployGas  = [];
+  const walletFundGas    = [];
+  const walletReleaseGas = [];
+  const wallets          = [];
+
+  for (let i = 0; i < N; i++) {
+    await token.$_mint(owner.address, AMOUNT);
+
+    const wallet = await ethers.deployContract('VestingWallet', [
+      beneficiaries[i].address,
+      start,
+      DURATION,
+    ]);
+    walletDeployGas.push((await wallet.deploymentTransaction().wait()).gasUsed);
+
+    const fundReceipt = await (await token.connect(owner).transfer(wallet.target, AMOUNT)).wait();
+    walletFundGas.push(fundReceipt.gasUsed);
+
+    wallets.push(wallet);
+  }
+
+  // ── Approach B: VestingWalletFactory ─────────────────────────────────────
+
+  const factory = await ethers.deployContract('VestingWalletFactory', [owner.address]);
+  const factoryDeployGas = (await factory.deploymentTransaction().wait()).gasUsed;
+
+  await token.$_mint(owner.address, AMOUNT * BigInt(N));
+  const approveGas = (
+    await (await token.connect(owner).approve(factory.target, ethers.MaxUint256)).wait()
+  ).gasUsed;
+
+  const factoryCreateGas  = [];
+  const factoryReleaseGas = [];
+
+  for (let i = 0; i < N; i++) {
+    const receipt = await (
+      await factory.createVestingSchedule(
+        beneficiaries[i].address,
+        token.target,
+        start,
+        DURATION,
+        AMOUNT,
+      )
+    ).wait();
+    factoryCreateGas.push(receipt.gasUsed);
+  }
+
+  // ── Advance time past vesting end ─────────────────────────────────────────
+
+  await ethers.provider.send('evm_increaseTime', [Number(DURATION) + 3601]);
+  await ethers.provider.send('evm_mine');
+
+  // ── Release ───────────────────────────────────────────────────────────────
+
+  for (const wallet of wallets) {
+    const receipt = await (await wallet['release(address)'](token.target)).wait();
+    walletReleaseGas.push(receipt.gasUsed);
+  }
+
+  for (let i = 0; i < N; i++) {
+    const receipt = await (await factory.release(BigInt(i))).wait();
+    factoryReleaseGas.push(receipt.gasUsed);
+  }
+
+  // ── Aggregate ─────────────────────────────────────────────────────────────
+
+  const sum = arr => arr.reduce((a, b) => a + b, 0n);
+  const avg = arr => sum(arr) / BigInt(arr.length);
+
+  const factoryOneTime    = factoryDeployGas + approveGas;
+  const walletSetupTotal  = sum(walletDeployGas) + sum(walletFundGas);
+  const factorySetupTotal = factoryOneTime + sum(factoryCreateGas);
+  const walletTotal       = walletSetupTotal + sum(walletReleaseGas);
+  const factoryTotal      = factorySetupTotal + sum(factoryReleaseGas);
+
+  // ── Print table ───────────────────────────────────────────────────────────
+
+  const LBL = 38;
+  const W   = 14;
+  const SEP  = '  ' + '-'.repeat(LBL + W + W + 2);
+  const RULE = '  ' + '='.repeat(LBL + W + W + 2);
+
+  // Inserts commas and right-pads to W characters
+  const fmt = n => n.toString().replace(/\B(?=(\d{3})+(?!\d))/g, ',').padStart(W);
+
+  const row = (label, walletVal, factoryVal) =>
+    `  ${label.padEnd(LBL)} ${walletVal} ${factoryVal}`;
+
+  console.log('');
+  console.log(RULE);
+  console.log(`  Gas Comparison — N = ${N} beneficiar${N === 1 ? 'y' : 'ies'}`);
+  console.log(RULE);
+
+  console.log('');
+  console.log(row('SETUP', 'VestingWallet'.padStart(W), 'Factory'.padStart(W)));
+  console.log(SEP);
+  console.log(row('  avg deploy / createSchedule', fmt(avg(walletDeployGas)),                    fmt(avg(factoryCreateGas))));
+  console.log(row('  avg fund transfer',           fmt(avg(walletFundGas)),                       '(incl. above)'.padStart(W)));
+  console.log(row('  avg per-beneficiary total',   fmt(avg(walletDeployGas) + avg(walletFundGas)), fmt(avg(factoryCreateGas))));
+  console.log(row('  one-time: deploy + approve',  '—'.padStart(W),                               fmt(factoryOneTime)));
+  console.log(SEP);
+  console.log(row(`  total setup  (N=${N})`,       fmt(walletSetupTotal),                         fmt(factorySetupTotal)));
+
+  console.log('');
+  console.log(row('RELEASE', 'VestingWallet'.padStart(W), 'Factory'.padStart(W)));
+  console.log(SEP);
+  console.log(row('  avg per beneficiary',         fmt(avg(walletReleaseGas)),                    fmt(avg(factoryReleaseGas))));
+  console.log(SEP);
+  console.log(row(`  total release (N=${N})`,      fmt(sum(walletReleaseGas)),                    fmt(sum(factoryReleaseGas))));
+
+  console.log('');
+  console.log(RULE);
+  console.log(row('GRAND TOTAL (setup + release)', fmt(walletTotal), fmt(factoryTotal)));
+  console.log(RULE);
+
+  const savings = walletTotal - factoryTotal;
+  if (savings > 0n) {
+    const pct = (Number(savings * 10000n / walletTotal) / 100).toFixed(1);
+    const fmtSavings = savings.toString().replace(/\B(?=(\d{3})+(?!\d))/g, ',');
+    console.log(`\n  Factory saves ${fmtSavings} gas (${pct}% cheaper than separate wallets)`);
+  } else {
+    const extra = -savings;
+    const pct = (Number(extra * 10000n / factoryTotal) / 100).toFixed(1);
+    const fmtExtra = extra.toString().replace(/\B(?=(\d{3})+(?!\d))/g, ',');
+    console.log(`\n  Separate wallets save ${fmtExtra} gas (${pct}% cheaper than factory)`);
+  }
+  console.log('');
+}
+
+main().catch(err => { console.error(err); process.exit(1); });
diff --git a/test/finance/VestingWalletFactory.test.js b/test/finance/VestingWalletFactory.test.js
new file mode 100644
index 00000000000..375177c6ec5
--- /dev/null
+++ b/test/finance/VestingWalletFactory.test.js
@@ -0,0 +1,263 @@
+const { ethers } = require('hardhat');
+const { expect } = require('chai');
+const { loadFixture } = require('@nomicfoundation/hardhat-network-helpers');
+
+const time = require('../helpers/time');
+
+async function fixture() {
+  const amount = ethers.parseEther('1000');
+  const duration = time.duration.years(4);
+  const start = (await time.clock.timestamp()) + time.duration.hours(1);
+
+  const [owner, beneficiary, other] = await ethers.getSigners();
+
+  const factory = await ethers.deployContract('VestingWalletFactory', [owner.address]);
+  const token = await ethers.deployContract('$ERC20', ['Test Token', 'TT']);
+
+  // Mint tokens to owner; schedules are funded via safeTransferFrom
+  await token.$_mint(owner.address, amount * 10n);
+  await token.connect(owner).approve(factory.target, ethers.MaxUint256);
+
+  return { factory, token, owner, beneficiary, other, amount, start, duration };
+}
+
+describe('VestingWalletFactory', function () {
+  beforeEach(async function () {
+    Object.assign(this, await loadFixture(fixture));
+  });
+
+  describe('createVestingSchedule input validation', function () {
+    it('rejects zero address beneficiary', async function () {
+      await expect(
+        this.factory.createVestingSchedule(
+          ethers.ZeroAddress,
+          this.token.target,
+          this.start,
+          this.duration,
+          this.amount,
+        ),
+      ).to.be.revertedWith('VestingWalletFactory: beneficiary is zero address');
+    });
+
+    it('rejects zero amount', async function () {
+      await expect(
+        this.factory.createVestingSchedule(
+          this.beneficiary.address,
+          this.token.target,
+          this.start,
+          this.duration,
+          0n,
+        ),
+      ).to.be.revertedWith('VestingWalletFactory: amount is zero');
+    });
+
+    it('rejects zero duration', async function () {
+      await expect(
+        this.factory.createVestingSchedule(
+          this.beneficiary.address,
+          this.token.target,
+          this.start,
+          0n,
+          this.amount,
+        ),
+      ).to.be.revertedWith('VestingWalletFactory: duration is zero');
+    });
+  });
+
+  describe('access control', function () {
+    it('reverts when called by non-owner', async function () {
+      await expect(
+        this.factory.connect(this.other).createVestingSchedule(
+          this.beneficiary.address,
+          this.token.target,
+          this.start,
+          this.duration,
+          this.amount,
+        ),
+      )
+        .to.be.revertedWithCustomError(this.factory, 'OwnableUnauthorizedAccount')
+        .withArgs(this.other.address);
+    });
+  });
+
+  describe('vesting math', function () {
+    beforeEach(async function () {
+      await this.factory.createVestingSchedule(
+        this.beneficiary.address,
+        this.token.target,
+        this.start,
+        this.duration,
+        this.amount,
+      );
+      this.end = this.start + this.duration;
+    });
+
+    it('vestedAmount is 0 before start', async function () {
+      expect(await this.factory.vestedAmount(0n, this.start - 1n)).to.equal(0n);
+    });
+
+    it('vestedAmount is proportional mid-schedule', async function () {
+      expect(await this.factory.vestedAmount(0n, this.start + this.duration / 2n)).to.equal(this.amount / 2n);
+    });
+
+    it('vestedAmount equals totalAllocation at end', async function () {
+      expect(await this.factory.vestedAmount(0n, this.end)).to.equal(this.amount);
+    });
+
+    it('vestedAmount equals totalAllocation after end', async function () {
+      expect(await this.factory.vestedAmount(0n, this.end + 1n)).to.equal(this.amount);
+    });
+
+    it('releasable is 0 before start', async function () {
+      expect(await this.factory.releasable(0n)).to.equal(0n);
+    });
+
+    it('releasable is proportional mid-schedule', async function () {
+      await time.increaseTo.timestamp(this.start + this.duration / 2n);
+      expect(await this.factory.releasable(0n)).to.equal(this.amount / 2n);
+    });
+
+    it('releasable equals totalAllocation at end', async function () {
+      await time.increaseTo.timestamp(this.end);
+      expect(await this.factory.releasable(0n)).to.equal(this.amount);
+    });
+  });
+
+  describe('release', function () {
+    beforeEach(async function () {
+      await this.factory.createVestingSchedule(
+        this.beneficiary.address,
+        this.token.target,
+        this.start,
+        this.duration,
+        this.amount,
+      );
+      this.end = this.start + this.duration;
+    });
+
+    it('transfers the full amount to beneficiary at end', async function () {
+      await time.increaseTo.timestamp(this.end);
+      const tx = await this.factory.release(0n);
+      await expect(tx).to.changeTokenBalances(
+        this.token,
+        [this.factory, this.beneficiary],
+        [-this.amount, this.amount],
+      );
+    });
+
+    it('emits ERC20Released', async function () {
+      await time.increaseTo.timestamp(this.end);
+      await expect(this.factory.release(0n))
+        .to.emit(this.factory, 'ERC20Released')
+        .withArgs(0n, this.token.target, this.amount);
+    });
+
+    it('second release only sends the remaining delta', async function () {
+      await time.increaseTo.timestamp(this.start + this.duration / 2n, false);
+      await this.factory.release(0n);
+
+      await time.increaseTo.timestamp(this.end, false);
+      const tx = await this.factory.release(0n);
+      const remainder = this.amount - this.amount / 2n;
+      await expect(tx).to.changeTokenBalances(
+        this.token,
+        [this.factory, this.beneficiary],
+        [-remainder, remainder],
+      );
+    });
+
+    it('updates released on the schedule', async function () {
+      await time.increaseTo.timestamp(this.end);
+      await this.factory.release(0n);
+      expect((await this.factory.getSchedule(0n)).released).to.equal(this.amount);
+    });
+  });
+
+  describe('multiple schedules', function () {
+    beforeEach(async function () {
+      const [, , , beneficiary2] = await ethers.getSigners();
+      this.beneficiary2 = beneficiary2;
+      this.amount2 = ethers.parseEther('400');
+
+      await this.factory.createVestingSchedule(
+        this.beneficiary.address,
+        this.token.target,
+        this.start,
+        this.duration,
+        this.amount,
+      );
+      await this.factory.createVestingSchedule(
+        this.beneficiary2.address,
+        this.token.target,
+        this.start,
+        this.duration,
+        this.amount2,
+      );
+
+      this.end = this.start + this.duration;
+    });
+
+    it('scheduleCount is 2', async function () {
+      expect(await this.factory.scheduleCount()).to.equal(2n);
+    });
+
+    it('each schedule tracks its own totalAllocation', async function () {
+      expect((await this.factory.getSchedule(0n)).totalAllocation).to.equal(this.amount);
+      expect((await this.factory.getSchedule(1n)).totalAllocation).to.equal(this.amount2);
+    });
+
+    it('releasing one schedule does not affect the other', async function () {
+      await time.increaseTo.timestamp(this.end);
+      await this.factory.release(0n);
+      expect(await this.factory.releasable(1n)).to.equal(this.amount2);
+    });
+
+    it('each beneficiary receives only their own allocation', async function () {
+      await time.increaseTo.timestamp(this.end, false);
+      const tx1 = await this.factory.release(0n);
+      const tx2 = await this.factory.release(1n);
+      await expect(tx1).to.changeTokenBalances(this.token, [this.beneficiary], [this.amount]);
+      await expect(tx2).to.changeTokenBalances(this.token, [this.beneficiary2], [this.amount2]);
+    });
+  });
+
+  describe('after createVestingSchedule', function () {
+    beforeEach(async function () {
+      this.tx = await this.factory.createVestingSchedule(
+        this.beneficiary.address,
+        this.token.target,
+        this.start,
+        this.duration,
+        this.amount,
+      );
+    });
+
+    it('stores the schedule correctly', async function () {
+      const s = await this.factory.getSchedule(0n);
+      expect(s.beneficiary).to.equal(this.beneficiary.address);
+      expect(s.token).to.equal(this.token.target);
+      expect(s.start).to.equal(this.start);
+      expect(s.duration).to.equal(this.duration);
+      expect(s.totalAllocation).to.equal(this.amount);
+      expect(s.released).to.equal(0n);
+    });
+
+    it('increments scheduleCount', async function () {
+      expect(await this.factory.scheduleCount()).to.equal(1n);
+    });
+
+    it('pulls tokens from the caller into the contract', async function () {
+      await expect(this.tx).to.changeTokenBalances(
+        this.token,
+        [this.owner, this.factory],
+        [-this.amount, this.amount],
+      );
+    });
+
+    it('emits VestingScheduleCreated', async function () {
+      await expect(this.tx)
+        .to.emit(this.factory, 'VestingScheduleCreated')
+        .withArgs(0n, this.beneficiary.address, this.token.target, this.start, this.duration, this.amount);
+    });
+  });
+});