Period 001A Dividend Distributed


#1

Good morning, Shareholders.

Following the agreement set forth in this motion, I have made the first of two “Period 001” dividend distributions.

50,000 NBT worth of peercoin based on the value of PPC/USD when the motion passed at 20:50 GMT was: $0.732 PPC/USD

68,306 PPC were purchased and distributed to 481 unique addresses held as of 16:00 GMT on 18-Nov-2014.

Period 001B’s distribution will occur as soon as the remaining 22,000 NBT’s worth of sales (at a 10% withholding rate) occur now that this distribution has happened. We are still not able to automatically withhold so there will be some manual adjustment required. Additional updates included in the next grant report, most likely due out within the next day.

Thank you.

//KTm


Past Dividends Info
History of the Nu Network (Feedback Please)
Newcomer: Please explain the dividend process from scratch
#2

Thank you for your hard work @KTm, I know much of what you do is probably unappreciated by us in the general public. I’m particularly grateful that you were able to acquire a large volume of PPC at the market rate. Well done!


#3

Thanks for the transparency and hard work.


#4

Thanks, i got mine.


#5

I did not received yet. I bought my shares yesterday.


#6

If you bought them yesterday, you were not eligible for dividend as I understand it.


#7

Thank you for your hard work.


#8

thanks, thats really appreciated !

If anybody is interested in re-investing the dividends in Nu ->


#9

I purchased ~12000 NuShares at this time: https://blockexplorer.nu/address/SfH4TrTcECMzTmQTExAQnTZdDNSzaytfuk/1/newest

Should have I received any dividends? My calculations is that I should receive ~0.70 PPC and I have not receive anything so far.


#10

Here’s the dividend transaction: https://bkchain.org/ppc/tx/b7f3f769ac81322e60e339946d97411f85fca29a8689cb004b625a0e215e1640

$50,000 of value was just sent to who-knows-how-many anonymous people, in minutes, for a fee of about 15 cents. Say hello to the future.


#11

If you can condense this down to 140 characters, you’ve just written our next pinned tweet at the top of www.twitter.com/OfficialNuBits . Well said.


#12

Have you followed all the steps in this thread? NuShares dividend address

If your shares were purchased less than 36 hours prior to the dividend being disbursed, my understanding is that you would not have qualified. However, your NSR would now be eligible for all future dividends.


#13

Edited my post down to 137 characters. :smile:


#14

Tweaked slightly, but your words were still a striking example of how powerful this technology is.


#15

Yes, I have both Nu and Peercoin client synchronised.

The purchase was effective at 11:41:57 (UTC/GMT) on 11/19/2014 you can check it here: https://blockexplorer.nu/address/SfH4TrTcECMzTmQTExAQnTZdDNSzaytfuk/1/newest

The dividens payout was effective at 3:11:18 on 11/21/2014 as you can check here: https://bkchain.org/ppc/tx/b7f3f769ac81322e60e339946d97411f85fca29a8689cb004b625a0e215e1640

So, the payout was effective more than 39 hours after the purchase of the NuShares. So, theoretically the PPC address associated with the NuShares address should be in the payout’s address list.

The associated PPC address is PSaEaz5JYkeyvJHm3bVruTPLBLPStcajNh as you can check here:

I would like to make clear that my concern is not about the payment itself (which I have calculated around 0.8 PPC) but about the integrity of the payout operation.


#16

perhaps it needs more than 39 hours?
how can we check this?


#17

I am guessing this is the only explanation. I would like to know where to consult this in some official place.

Anybody?


#18

Perhaps @sigmike would be able to go into detail as to how it works on a protocol level.


#19

It seems to me that instead of working on a protocol level the conditions to be eligible to be included in the payout are set by the custodian in the Custodian Proposal.

In this case, @KTm is responsible for this, as she is handling this Custodial Grant. The conditions set in this case are clear and can be found here: https://gist.github.com/KiaraTamm/c30172f9d5d73e970bf2#dividend-distribution-details

So, I guess she is the one to clarify what happened here.

I would not like this is taken as a direct criticism to anybody but to a way the community can learn which mechanisms are better to handle this complicated and inevitable processes. Even more complicated knowing this is the first dividends payout ever in Nu history.

Cheers, jaspita


#20

I see. I would not have figured that, as I did not realize custodians have any say on who gets dividends, or at least any way to enforce that.