Revenue Share Tokens
A breakdown of the privileges and rules of owning Revenue Share Tokens
Last updated
A breakdown of the privileges and rules of owning Revenue Share Tokens
Last updated
100% of the Chaos Birds project revenue is tokenized with these NFTs. Holders receive a monthly payment according to the proportion of time they held their revenue share token during the previous month. Here's the breakdown:
One Diamond: 40% (non-transferable treasury token)
Three Platinum: 10%
Four Gold: 5%
Ten Silver: 1%
Monthly payments are calculated by taking the total KSM that is earned by the FChaos5WW9Sq3bo5jKDD2Vp5L14TzETXQ2fsrsne1xyoSxM wallet in a given month and divvying it up to the revenue share token holders. If the ownership of a token is transferred, the old owner will receive their revenue share proportional to the number of days they owned the NFT during that month, rounded to 4 decimal places.
For example, let's say the project brings in 50 KSM in September. If wallet A owns a gold token for 10 days in September then sells it to wallet B who then holds it for the remaining 20 days in September, then wallet A would receive a total of 0.05 * 10 / 30 * 50 KSM = 0.835 KSM and wallet B would receive a total of 0.05 * 20 / 30 * 50 KSM = 1.665 KSM
The original founder created this idea but the original collection was messy. A new collection has been created to replace the old one. There were three unique holders of the old tokens and they have until August 1st, 2022 at 00:00 UTC to migrate and burn their old revenue share tokens in order to receive a new one, otherwise they forfeit their revenue share.
