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Send Token Payouts With Ease Using Bitcoin.com’s SLP Dividend Calculator

On August 23, Bitcoin.com launched a brand new software referred to as the SLP Dividend Calculator. The brand new platform permits customers to construct a transaction to make dividend funds to any Easy Ledger Protocol (SLP) token holder.

Additionally learn: The best way to Create Non-Fungible Belongings and Collectible Tokens With Bitcoin Money

Testing the New SLP Dividend Calculator From Bitcoin.com

During the last 12 months, SLP tokens have been extraordinarily common amongst BCH proponents, and up to now supporters have made hundreds of distinctive cash on the BCH chain. As time has progressed, the SLP ecosystem has matured an ideal deal and there are various third-party options supporting the token infrastructure. This week, Bitcoin.com added a brand new platform to our Instruments.Bitcoin.com portal referred to as the SLP Dividend Calculator. The appliance offers customers with the flexibility to make grouped dividend funds to particular SLP token holders. As an illustration, when you distributed fractions of an SLP token to a bunch of three individuals, then you possibly can enter the token’s ID and ship funds to all three holders at a selected cut-off date. With the flexibility to pay BCH dividend funds to SLP token holders, the brand new instrument opens the door to all types of real-world use circumstances.

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
To make use of the brand new Bitcoin.com SLP Dividend Calculator merely add an SLP Token ID, the specified dividend cost in BCH, and once you need the cost to be despatched. After you might be pleased with the customization, press “Construct Tx” to begin the method.

After the brand new instrument was launched, I made a decision to check the service with a purpose to spotlight simply how straightforward it’s to make use of the brand new Bitcoin.com SLP Dividend Calculator. I examined the app with my cousin, Andrew Forehead, as a result of again in June I despatched him some customized SLP tokens referred to as “Andy Coin (ABC)” simply to indicate him how easy it’s to create tokens. On the time I created 21 million ABC cash and despatched 10 million to my cousin’s Badger pockets. Final evening I opened up the SLP Dividend Calculator and pasted the token’s distinctive ID quantity into the primary window.

Then I made a decision to pay $1 to the Andy Coin token holders, which suggests it is going to be break up in half between each of us, as a result of we’re each ABC token holders. The SLP Dividend Calculator pays much more than simply two addresses, however for this check two was sufficient. After ensuring the SLP token ID and the variety of funds I wished to ship had been right, I made a decision to make the funds out there on the final confirmed block top. You may as well select to broadcast it as is within the newest mempool state or you possibly can select a customized block top as nicely.

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
After the dividend transaction is constructed the instrument will show all of the specs tied to the cost alongside a QR BCH bill that makes use of a novel Pay.Bitcoin.com URI. You need to use the Bitcoin.com Pockets to pay the bill or you need to use any pockets that helps Bitcoin Fee Protocol for funds.

The service offers you two decisions after the customization is full: you possibly can both press the button “Begin over” or “Construct the transaction.” After I selected to construct the transaction, the appliance confirmed me precisely what would occur after I paid the distinctive cost bill. The SLP balances had been scanned at block top 597121 and I despatched a dividend cost of zero.003176 BCH, which might be paid to the token holders of the Andy Coin token ID quantity. The platform additionally informed me that two addresses would obtain a BCH dividend cost after I paid the QR bill code by Pay.Bitcoin.com. Any pockets that helps invoices, just like the Bitcoin.com Pockets, pays the bill by copying the URI scheme or scanning the QR code. I used the Electron Money pockets to pay the bill, as a result of I had some out there funds within the pockets and I wished to see precisely how the transaction was constructed and executed from the consumer perspective.

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
The Pay.Bitcoin.com bill may be paid utilizing a pockets that helps bill cost options just like the Bitcoin.com Pockets and Electron Money.

Opening the Door to a Decentralized Inventory Market, Belief Funds and Bearer Bonds

After paying the bill, the transaction broadcasted and my cousin Andrew and I had been each despatched $zero.50 in BCH every. The transactions confirmed within the following block and your complete check may be seen on Bitcoin.com’s Block Explorer or Simpleledger.data as nicely. The instrument could possibly be used for a wide range of fascinating dividend cost concepts. As an illustration, Bitcoin.com’s govt chairman, Roger Ver, not too long ago despatched BCH dividend funds to Cashgames.Bitcoin.com Dividend Check Token (CGT) holders for being Cashgames.Bitcoin.com patrons.

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
After pasting the URI code into the Electron Money pockets you possibly can then select to execute the dividend cost.

An individual with 4 youngsters may create 4 separate non-fungible (NFT1) tokens with the youngsters’ names connected to them and name them Belief Tokens. After a selected block top, the Belief Tokens may be despatched a BCH dividend cost with a purpose to go away an inheritance to the kids. Or a enterprise may have individuals put money into the corporate by initiating an preliminary coin providing (ICO) and token holders may reap the income within the type of dividend funds over time.

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
The Electron Money pockets exhibits you the precise particulars of the dividend transaction.

The sky’s the restrict with regards to the number of ideas that may derive from individuals utilizing the Bitcoin.com SLP Dividend Calculator. For the reason that software was launched, a bunch of BCH supporters have examined the platform to ship funds to sure token holders. “Improbable,” one BCH fanatic wrote on the Reddit discussion board r/btc. “[This] offers us decentralized inventory market… useless straightforward to make use of.”

Send Token Payouts With Ease Using Bitcoin.com's SLP Dividend Calculator
This my transaction sending a greenback’s price of BCH to my cousin’s deal with and my deal with.

“Holy crap the brand new SLP dividend instrument is superior. Simply performed round with it and despatched all holders of the MIS token their share of .01 BCH simply to try it out,” one other BCH person mentioned on Twitter. “That is magic web cash for reals.” When you’ve got created SLP tokens you possibly can attempt sending a dividend cost to token holders by utilizing the SLP Dividend Calculator. The method takes lower than two minutes to finish and also you don’t must be a tech wiz to make use of the brand new instrument. Take a look at the platform at Instruments.Bitcoin.com and ship your first BCH dividend cost right this moment.

What do you consider the brand new SLP Dividend Calculator? Tell us what you consider this new instrument and idea within the feedback part beneath.


Picture credit: Shutterstock, Electron Money, SLP Dividend Calculator, Pixabay, Bitcoin.com’s Block Explorer and Wiki Commons.


Do you must observe down a Bitcoin transaction? With our Block Explorer instrument, you possibly can search by transaction ID, deal with, or block hash to seek out particular particulars. You may as well seek for SLP token transactions on the Bitcoin.com Block Explorer as nicely.

Tags on this story
ABC, Andre the Big, Andrew Forehead, Andy Coin, autonomous, BCH, BCH funds, Bearer Bond Funds, bitcoin money, cashgames, Cashgames.Bitcoin.com Dividend Check Token, Cryptocurrency, Decentralized Inventory Market, Builders, Digital Belongings, Digital Inheritance, Dividend, Engineers, Inheritance, Innovation, Reddit, Roger Ver, SLP, SLP Dividend Calculator, SLP Token Funds, SLP tokens, tech, expertise, Testing, Instruments.Bitcoin.com, belief token, Twitter

Jamie Redman

Jamie Redman is a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open supply code, and decentralized functions. Redman has written hundreds of articles for information.Bitcoin.com concerning the disruptive protocols rising right this moment.

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