Guide: how to calculate SLP token dividends
Guide: how to calculate SLP token dividends
Blockchain

Guide: how to calculate SLP token dividends

By Alfredo de Candia - 29 Dec 2019

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SLP (Simple Ledger Protocol) tokens, which are based on the Bitcoin Cash blockchain, can generate dividends. This guide will show how to calculate them.

This type of token is very versatile and can be created in very few steps without incurring huge costs; besides, recently their volumes has exceeded $50 million, demonstrating that they are gaining ground and catching up even with the most renowned cryptocurrencies.

But what advantage does the creation of a custom token of this type have?

The SLP token dividend guide

One of the functions that have been introduced with this protocol is the possibility to distribute dividends to token holders, both through the Bitcoin Cash (BCH) crypto and the SLP tokens themselves.

For example, a company could reward its users and customers with airdrop based on the number of tokens owned or the achievement of a certain goal. In essence, rather than dividends, the mechanism is similar to airdrops.

A tool provided by Bitcoin.com allows to understand how to calculate dividends.

After accessing the page, the user will have to choose what kind of dividend to distribute to the token holders.

token SLP

To distribute BCH it will be necessary to click on the first item, otherwise on the second in order to distribute SLP tokens. The process will actually be very similar.

Subsequently, it will be necessary to enter the ID of the relevant token, in this case, we will enter the ID of a test token that we created in a previous guide, followed by the amount to be divided between all token holders.

The calculation takes into account some parameters, for example, if it is necessary to have at least a minimal number of tokens. 

Lastly, clicking on Build Tx will show a preview of the distribution.

token SLP

In this case, a minimum of 400 tokens is required. The Bitcoin.com tool indicates that there is only one address that is suitable for distribution. Obviously, the result will change depending on the token selected and the user selection terms.

At this point, the last step is to send the funds to complete the transaction, either by using a QR code that needs to be scanned with a wallet or by manually copying the correct addresses.

 

Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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