You can validate you received a license in Cycle by going to Edit > Preferences. If your request for a license was approved, you will see a Username, Expiration Date, License ID, and License Type populating the fields.
Managing license settingsIn addition to license information, the License settings section contains buttons for the following actions related to Cycle licenses.
Request licenseRequests a floating license for 8 hours.
Checkout licenseRequests a floating license for a configurable number of days.
Relinquish current licenseReleases the your current license back into the license pool.
LogoutEnds the active session in Cycle and relinquishes the current license.
Types of licenses
There are two types of Cycle licenses: node-locked and floating-strict (team).
Node-lockedA node-locked license is a non-transferrable license registered to one user on one machine for a specified number of days. Thus, multiple user accounts on the same machine will require multiple licenses.
Floating-strict (Team)A floating-strict or team license is a transferrable license that can be used non-concurrently by any user. By default, floating license are issued for 8 hours but can be issued for "x" number of days as well.
Note: If a company's maximum license quota has been reached and a user requests a floating license, the user will be denied.