Re: [ANN] TenX [ICO] end of June: making Blockchain assets spendable

I think that sending the dividends to the peoples Tenx accounts would be a much better option because that wouldn't cost them anything in gas or fees. Is there a date when the first dividends will be sent out? Will this be done monthly or quarterly?

So they will deposit the dividends directly into our Tenx account and not send them through the ETH blockchain?

Quote from: Chrizzli on July 25, 2017, 11:45:46 AM

Quote from: someonesomeone on July 25, 2017, 10:32:43 AM

Honestly I would prefer to see buybacks because there will be a ton of money spent on tx fees for sending dividends to thousands of token holders. That is just wasted money that could be used for buybacks and the increase of value of the token...

I get your point, but I like the dividend model more.

The PAY token accumulates ETH on the same address, and you can transfer & spend that ETH directly through your TenX card. No need to sell any of your PAY tokens, you always keep your initial investment without thinking. If you want to sell, you can always sell, the price will rise nonetheless.

But there are alternatives if you don't like the design of the PAY token. You could buy the tokens of TenX´s competitors, I think they all use some kind of buyback.

No.

Payouts are in ETH. And will be sent to the holders ETH address. Which was the one they sent the TenX tokens to.

They can just use really low gas to send the payments. They'll be regular and at whatever frequency they end up settling on. To me, it doesn't need to be a high gas/speed transaction. I suspect most token holders will feel the same. Why wouldn't they? As you say, high gas will just eat into the payout.

Where does it say that they will send the ETH payout to you?

Before the ico they said that you'll be able to COLLECT your payout when you feel it makes sense, considering the gas costs which YOU will have to pay, not them.

I asked the team on their Slack channel. That's what they told me. I didn't specifically ask if payouts were sent or collected. But their response (exchanges will get the ETH for tokens held there) definitely implied automatic distribution of payouts. With payout frequency increasing over time as they get more of the system up and running smoothly.

But I'm in agreement with you. Whatever gets paid out, needs to be set up in such a way to minimise the gas hit on the payout. Especially for smaller holders. Like me!