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Revenue distribution process during the pre-definition period. #24

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Dexaran opened this Issue Jul 25, 2017 · 0 comments

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Dexaran commented Jul 25, 2017

The following describes the process of revenue distribution for all for-profit projects of the Ethereum Commonwealth.

Pre-definition period is the period of time before 1st September, 2018. The final version of smart-contract based voting and smart-contract based revenue distribution will be established at 1st September, 2018. It may require DEX token contract upgrade!

Revenue distribution during the pre-definition period.

Each for-profit service outputs its income to the specified address (bursary). Once a month 65% of the balance of the "bursary" address will be moved to official Ethereum Commonwealth address to fund further development. 35% of the remaining funds will be distributed among the shareholders of the DEX token in proportion to their share.

Example.

The ECNS project is already finished. Unlike the ENS, it will not burn money, but put them in bursary.
Imagine that user have bidded 100 ETC for ECNS name but forgot to unseal bid during the reveal period. In this case 0,5% of the bid value will be returned to the user and 99,5% will be donated to the bursary.

Bursary receives 99.5 ETC.

Another user bidded 200 ETC for ECNS name and unsealed bid. In this case 0,5% of the bid value will be donated to the bursary and the remaining 99,5% of funds will stay at the ECNS.

Bursary receives 1 ETC.

I own 706,5 DEX of 3658.87. This means that my share is about 19%.

At the end of the month 65% will be sent to the official Ethereum Commonwealth wallet: 65.325 ETC total.

The remaining amount of 35.175 ETC will be distributed between DEX shareholders. Personally I will receive 35.175 * 0.19 = 6.68325 ETC.

P.S. I assume that percentage will change in future. I have raised a lot less that I supposed so I need to establish a self-funding mechanism for the team at the initial stage. I prefer to increase a percent of DEX holders to 70% and to decrease a percent of team funding to 30% after the pre-definition period.

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