New-Zealand based bitcoin and altcoin exchange Cryptopia announced today a new tokenized mechanism for shareholder payouts, known as the Cryptopia Fee Share (CEFS) token.
Cryptopia will take 4.5% of its gross fees collected each month for each of each base markets and distribute this portion of fees among all CEFS holders at the end of the month.
The Cryptopia team said:
“As a champion of blockchain adoption, Cryptopia has upgraded its shareholder dividend method from the traditional mechanisms of paying a fixed amount of dollars in profit to each shareholder.”
“CEFS were created and allocated to shareholders based on the shares that they owned; 6300 CEFS tokens exist currently and CEFS tokens will not be reissued.”
Cryptopia has chosen to do this for several reasons, mainly:
- Cryptopia wanted to modernize its shareholder and equity mechanisms.
- CEFS can be demonstrated as a living use case for a blockchain application in a corporate world.
- So that its users can invest or divest in Cryptopia as they wish in an automated manner.
The CEFS token is now live for trading on Cryptopia.