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NFT_for_dividends.md

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Non-fungible Token for Dividends

This draft describes an idea of using NFT for tracking and paying dividends or bonuses from EOS projects.

Accounts and names

A project has its own PTOKEN issued by ptcontract smart contract. The goal is to send dividends or bonuses to all PTOKEN holders proportionally to their balances. As you will see in further reading, the project contract does not necessarily have to be a token contract, and PTOKEN itself is not taking part in the workflow.

The bonus payouts are made in MONEY token served by mtcontract token contract (very likely, but not limited to EOS served by eosio.token).

treasury is an account within the project that is holding suffcicient MONEY to pay out the dividends. This account is also running a smart contract that automates the payouts.

nftcontract is the smart contract account serving the NFT tokens. The token dedicated to the project is called PNFT.

NFT properties

  • issuer: the token contract account, such as ptcontract. This value is used as scope in accounts multi-index.

  • id: a unique uint64 identifier for the token. When a new token is created, the ID equals to the first 64 bits of the transaction hash.

  • owner: name of PTOKEN holder account.

  • due_amount: extended_asset value indicating how much MONEY the owner is going to receive.

  • paid_amount: asset value indicating total payouts in MONEY to the owner.

Workflow

nftcontract is not transferring any PTOKEN or MONEY. It is only serving to register the dividend amounts. We trust treasury to perform the required transfers and to update corresponding fields in the NFT.

The NFT is transferable. There's not much sense in transferring it, unless someone suggests a good use for it, but the owner can cnange by transfer operation. Therefore, due_amount would be paid to the new owner.

Action: register

This action is called by treasury in order to register ptcontract in nftcontract. The ptcontract must have a permission called treasury delegated to the treasury account.

The action creates a new multi-index scope with a single NFT which has treasury as the owner. Thus, the initial RAM expenses in creating a multi-index are charged to the treasury account.

Arguments:

  • contract: the name of the project token contract;

  • treasury: the name of treasury account;

  • moneyctr: payouts token contract;

  • moneysym: payouts token symbol;

Action: open

Once a PTOKEN holder wishes to receive the dividends, he or she allocates a corresponding RAM amount by calling open action on nftcontract with the following arguments:

  • owner: the dividend receiver;

  • contract: the project token contract, such as ptcontract

Action: adddue

The treasury account calls this action to add to a token holder's due amount. Arguments:

  • owner: the dividend receiver;

  • contract: the project token contract;

  • amount: the amount of payout;

  • moneyctr: payouts token contract.

Action: claimed

The owner sends claim action to treasury, requesting to transfer the due amount of MONEY. The treasury account refers to the NFT accounts table to determine the due amount, initiates the transfer, and calls an inline claimed action on nftcontract with the following arguments:

  • id: the identifier of NFT;

  • contract: the the project token contract;

  • paidamount: the amount of payout;

  • moneyctr: payouts token contract.

The action updates the due and paid amounts in the NFT, accordingly.

Copyright and License

Copyright 2018 cc32d9@gmail.com

This work is licensed under a Creative Commons Attribution 4.0 International License.

http://creativecommons.org/licenses/by/4.0/