Join Our Mailing List
Monday September 25, 2023
Bitcoin (BTC) $26,146.01   Ethereum (ETH) $1,575.05
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Blockchain Assets

Dividend Payout: BANKEX Tests the Newest Token Standard ERC-888

Published by CryptoNinjas.net
06/08/2018
Dividend Payout: BANKEX Tests the Newest Token Standard ERC-888

Recently, the BANKEX team issued a test version of the new ERC-888 token standard. ERC-888 is a multi-dimensional token standard and was developed out of ERC-721 in order to deploy several assets at once during tokenization.

BANKEX is an open source proof-of-asset protocol to facilitate digitization, tokenization, and exchange of traditional assets.

The ERC-888 token allows calculation and payment of dividends to token holders. To calculate the total amount of dividends, the system determines the sum of funds on the smart-contract and divides it proportionately to the number of tokens, which are held by system participants.

When a token-holder transfers his shares, he still holds the rights to dividends he hasn’t yet received. Therefore, there are two special cases when this structure functions differently: when a token-holder has tokens but doesn’t have the right to dividends, and when a token-holder has rights to dividends but doesn’t have any tokens.

To calculate the distribution of dividends in such cases, BANKEX developers have introduced a variable whose value depends on each particular case. When a token-holder doesn’t have rights to dividends, the value of the variable is negative, and vice versa.

The amount of dividends is calculated by the formula below:

(variable + sum of the Ethereum, transferred on a smart contract*amount of tokens)/total token supply.

Thus, it is possible to determine the number of shares that will not affect the dividends during token transfer. System participants then get their dividends and instantly receive information on how the smart contracts received ETH and tokens.

Dividends are available for withdrawal right after funds are put on the smart contract. In cases when it is not necessary for the user to quickly withdraw the dividends, it is possible to set up additional methods and terms of withdrawal.

With ERC-888, the production of tokens will be much cheaper. During the creation of new tokens under the ERC-888 standard, smart contracts use 15 times less gas.

It is also possible to issue tokens that are compatible with the ERC-20 token standard. The logic works the same, except ERC-20 compatible tokens are not multi-dimensional. The ERC-888 token is deployed on the main Ethereum network. It is compatible with all web3 providers and can be used to tokenize real assets.

8
SHARES
SubscribeE-MailXFacebookWhatsappTelegramRedditLinkedin

Related News

Investment experts Steven Wasserman and Charles Wyman join BANKEX advisory board

12/12/2017
Top 50 fintech company BANKEX launches token presale

BANKEX, the decentralized “Bank-as-a-Service” (BaaS) enterprise, today announced that Steven Wasserman, Chief Executive Officer, and Charles Wyman, Portfolio Manager of a New YYork-based asset management group, have joined the company as advisors. Steven Wasserman...

Read more

BANKEX welcomes cryptocurrency accounting platform Balanc3 as advisor

10/25/2017
Decentralized Bank-as-a-Service Enterprise, BANKEX, Announces Balanc3 as Advisor

BANKEX, the decentralized Bank-as-a-service (BaaS) enterprise, today announced that ConsenSys formation, Balanc3, the blockchain-based accountancy platform will join its advisory board. Both BANKEX and Balanc3 aim to transform current financial systems while catering to the...

Read more

Top 50 fintech company BANKEX launches token presale

10/13/2017
Top 50 fintech company BANKEX launches token presale

BANKEX, a decentralized Bank-as-a-Service (BaaS) exchange service, aims to bridge the gap between the emerging blockchain sector and traditional finance, has raised $8 million USD in soft and hard commitments as part of its...

Read more

Proof-of-Asset Protocol BankEx adds Stanford and Maryland academics as advisors

09/26/2017
Proof-of-Asset Protocol BankEx adds Stanford and Maryland academics as advisors

BankEx, the decentralized Bank-as-a-service (BaaS) exchange, today announced that Michael Ostrovsky, Professor of Economics at Stanford Graduate School of Business, and Peter Cramton, Professor of Economics at the University of Maryland, have joined as...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Blockstream releases new platform for Liquid-sidechain security token issuance

Blockstream releases new platform for Liquid-sidechain security token issuance

05/15/2019
Blockstream Mining Bitcoin

Blockstream launches bitcoin mining colocation and pool services

08/08/2019
Zilliqa blockchain combines incubation programs as it announces new grant winners

Zilliqa blockchain combines incubation programs; announces new grant winners

12/03/2019
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies

08/28/2023
HashKey Exchange, Hong Kong's first licensed crypto exchange is now live

Hong Kong’s first licensed crypto exchange HashKey is now live

08/28/2023
Adenasoft launches new crypto exchange white label solution: ACE

Adenasoft launches new crypto exchange white label solution: ACE

06/27/2023
Maximize Your ETH Investment: The ETHphoria Vault by Pods

Maximize Your ETH Investment: The ETHphoria Vault by Pods

06/21/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2024 CryptoNinjas Disclosures | Privacy Policy