[ANN] DividendRippler.com Create Assets & Pay Dividends in ripple

[TTBit]

I am pleased to announce DividendRippler.com (DR). DR provides an easy way to pro-rate payments to asset holders, much like a dividend payment. BTC/LTC/TRC is currently supported. We are not an exchange; ripple is left doing the heavy lifting, such as trading and ownership maintenance.

DividendRippler is simple. When a BTC/LTC/TRC payment comes into the main asset address, DR calculates current asset holders and sends out pro-rated ripple payments accordingly. All information is public.

DividendRippler is set up to offer listed as well as unlisted assets. Listed assets will require a signed offering document. Unlisted assets won’t. Both listed and unlisted assets will require DR to create the asset.

Listed asset at time of launch:
TBL – The Amazing Anonymous Bitcoin Lottery (TAABL.NET) (rNF5qUPCcge7uSStj6oKuoQs38BaM8362s)

Trust:
•   In order to trade a DR asset, you’ll need to trust the underlying asset in ripple, such as rNF5qUPCcge7uSStj6oKuoQs38BaM8362s in the case for TBL.
•   Because payments are made in the ripple network using DR, you will have to trust DR’s gateway address for the dividend. This address is static: rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX.

Fees:
•   DR collects no fees to issue payments. The user will face chain fees as required by the network. For example 1.0000 BTC redemption may only return 0.9995 BTC.
•   DR collects no fees on asset trading (because they are not technically DR assets)
•   DR does collect gateway fees if the BTC, LTC or TRC IOUs are transferred (currently 0.15%). Note ripple does not allow DR to charge a fee to redeem its own IOUs, so specie payment can always be taken free of charge. More information on the gateway is here.
•   Initiating a new asset will have fees, currently unknown. While in the initial testing phase of DR, the fee is waived.

Have an asset you would like to offer? While DR is in beta, we’re offering to bring a few assets public over the next month. If you’d like to have your asset considered, please PM.

[misterbigg]

This looks really cool but to be honest...I don't understand very much of it at all! How is this used? How does it know when a BTC payment comes in what the associated Ripple address is? Where's the interface on the web page to "send" the payment (i.e. associate the specie address with the Ripple address)? Help!

[TTBit]

This looks really cool but to be honest...I don't understand very much of it at all! How is this used? How does it know when a BTC payment comes in what the associated Ripple address is? Where's the interface on the web page to "send" the payment (i.e. associate the specie address with the Ripple address)? Help!

Simple and complex at the same time. I know you're familiar with ripple.

Someone comes to us and requests to issue an asset. We create a ripple address for them, needed so we can control the amount of shares outstanding. You don't want the issuer to issue another 1000 shares while you sleep. In the case of TBL, that person was issued 100 shares, assume for this case it was rLDDq8ZGhCaVBP8MyYTifhCJzgWPQBjwpt, but it doesn't have to be a current owner. He then distributed them as shown below (75%, 15% and 10%).

This is a snapshot taken for this post from the asset link, the asset holders can change at anytime, and updated in real-time!



Suppose the company wants to pay out a 2 BTC dividend. By submitting 2.000 BTC to 1HY2oZop..., all current asset holders will get a pro-rated amount of those BTC. So, rLDDq8z... would get 75% of the 2.000 BTC, and so on down the line. If the dividend was in LTC, the payment should be made to the LTC address.

[misterbigg]

Oh! I see. So you are acting as an escrow / holding agent for the securities. The ripple address you create is specific to the security, and it has its own IOUs which represents shares. Cool!

[TTBit]

Oh! I see. So you are acting as an escrow / holding agent for the securities. The ripple address you create is specific to the security, and it has its own IOUs which represents shares. Cool!

ripple makes it easy

[jago25_98]

Is there any live shares we can buy into to test this with?

[TTBit]

Is there any live shares we can buy into to test this with?

Yes! We haven't started a thread about it yet, but if you look on the DividendRippler.com website, you will see 1 listed asset 'TBL'. We'll make the thread soon, but it is the website TAABL.net. Profits from that website get filtered to shareholders. You can check out the issuing document at https://dividendrippler.com/asset?ra=rNF5qUPCcge7uSStj6oKuoQs38BaM8362s

The asset is 'TBL' with issuing address: rNF5qUPCcge7uSStj6oKuoQs38BaM8362s

There is an offer to sell 1 share (1%) at 0.15 btc. Check the market on ripple, TBL/BTC.dr (issuers as rNF5qUPCcge7uSStj6oKuoQs38BaM8362s / rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX)

You can buy some of that or put in bids for the owners to consider.

[jago25_98]

Ah I see it now. I'd like to try it out but $18 is a bit much for a test - how do I gauge trust that I will see the cash again?

[Bitcoin Oz]

Wondered how long til someone did this. Its pretty cool.

[nelisky]

We will soon explain why the asks are actually low-ball, and are only so for the sake of testing.

[jago25_98]

I seem to have 0.865TBL... I don't see how that happened

[nelisky]

I seem to have 0.865TBL... I don't see how that happened

Did you not put any bids up for TBL? I have the partial order filled 2 days ago for LTC.

[jago25_98]

I seem to have 0.865TBL... I don't see how that happened

Did you not put any bids up for TBL? I have the partial order filled 2 days ago for LTC.

Yes I did but for a full TBL because I didn't think I could have less. Somehow I have less and still some BTC leftover

[nelisky]

I seem to have 0.865TBL... I don't see how that happened

Did you not put any bids up for TBL? I have the partial order filled 2 days ago for LTC.

Yes I did but for a full TBL because I didn't think I could have less. Somehow I have less and still some BTC leftover

That's weird. First of all, the order partially filled was for LTC, not BTC, so did you also put a bid on LTC?

There is no single unit here, you can trade a small part of a TBL just like with any ripple supported currency. DividendRippler issues the units but all trading happens on ripple.

Do you have an order still open for TBL?

[nelisky]

This is a really interesting development. Is there a way to issue IOUs on DR that are both dividend-paying and backed by something physical (say, mining equipment)? So, for example, you can securitize mining rigs and the holder of securities gets a mining dividend stream. But if the holder wants to convert the securities into an actual rig, he requests the conversion and gets the equipment.

Do you have a built-in support for something along these lines, or do you plan to add it in future?

We don't have anything of the sort currently in place, and we have been thinking hard about how far we can take the platform. Dividends is "easy", the distribution is handled by ripple, we just have to check who owns what when splitting deposits.

With physical items it is slightly harder, as we would need to enforce somehow the delivery of the items. You can have an asset where one unit of participation entitled you to one physical coin, like TTBit's DYM, and DividendRippler can go as far as reporting you sent back 1 DYM to the asset account so TTBit owes you a physical DYM, but that's as far as we can go in an automated way. If people expect DR to enforce delivery we'll need a completely different operation, one I'm not very interested on

[Sukrim]

Do you have rules/limitations on what assets you allow?

I always wanted to list my Piratecoin asset that follows the following rules:
Shares have a fixed price (e.g. 1 mBTC each)
90% of every sale of Piratecoin shares goes into a pool, 10% go to operator for covering costs and expenses.
Every week 10% of the money in that pool is being distributed to share holders.
If there is no money left in the pool to pay each shareholder the required amount, a final dividend of the remaining amount is issued and the asset closes.

Everything should be auditable, which makes it a perfect match for Ripple as there is no need anyways to move the money outside and it can just stay in the pool...

[TTBit]

Do you have rules/limitations on what assets you allow?

I always wanted to list my Piratecoin asset that follows the following rules:
Shares have a fixed price (e.g. 1 mBTC each)
90% of every sale of Piratecoin shares goes into a pool, 10% go to operator for covering costs and expenses.
Every week 10% of the money in that pool is being distributed to share holders.
If there is no money left in the pool to pay each shareholder the required amount, a final dividend of the remaining amount is issued and the asset closes.

Everything should be auditable, which makes it a perfect match for Ripple as there is no need anyways to move the money outside and it can just stay in the pool...

We can do just about any asset. But won't provide any authority. For our first few assets nelisky and I discussed wanting an asset such as a mining operation.

So your asset is of the ponzi type?

[Sukrim]

Well, it would be very close to what is commonly understood as "ponzi system" (paying interest from deposited funds), yes.

Another idea I had was to offer a managed account for lending with interest at Bitfinex.com (either BTC or USD or both). In ~2 weeks it will be possible to use Bitstamp there as well, which opens up a Ripple gateway. I'm not too sure how to handle payout requests there though (e.g. someone wants their 100 USD they deposited back). Maybe offer a time limited contract (e.g. 6 months) after which everything including interest will be returned? Then I don't need the dividend feature however...

[wpk]

Fantastic application that fits Ripple so perfectly! Really nice. Now hoping to get one TBL. So far I can only see 0.9 on offer...

[🏰 TradeFortress 🏰]

I'd advise anyone who is thinking of using this service to read the two links in my signature instead. Know what you are getting into.