Overview

Any seller as Artist Account has to pay DCBA fee 2.5% on total winning bid amount.

Any reseller doesn’t have to pay DCBA fee 2.5% on total winning bid amount. He/She/They’ll lose his/her/their right to stand a chance to share 50% DCBA prize with the Artist of this NFT.

Any buyer (can be Listener, Collector, Artist account) doesn’t have to pay DCBA fee 2.5% on total winning bid amount but the buyer will receive an offered of paying DCBA fee email, and if the buyer accepts to pay this fee, he/she/they would have a chance to share 50% DCBA prize with the Artist of this NFT.

Biddings

Default settings:

  • Default Income Tax: 10%
  • Artist DCBA fee: 2.5%
  • Buyer DCBA fee: 2.5%

First sale:

  • Artist listed any NFT for an auction with the opening bid as 1,000 FROY
  • Buyer won at 10,000 FROY

Settle bid on first sale:

  • Buyer pays the full amount of his/her/their winning bid = 10,000 FROY
  • Artist receives 100% - (10% + 2.5%) = 87.5% = 10,000 * 87.5% = 8,750 FROY
  • Artist pays DCBA fee as 2.5% = 250 FROY
  • Artist pays Income Tax as 10% = 1000 FROY

Second sale:

  • Reseller listed any NFT for an auction with the opening bid as 15,000 FROY
  • Buyer won at 100,000 FROY

Settle bid on second sale:

  • Buyer pays the full amount of his/her/their winning bid = 100,000 FROY
  • Reseller receives 100% - (10%) = 90% = 100,000 * 90% = 90,000 FROY
  • Reseller pays Income Tax as 10% = 10,000 FROY

Staking

Default pool

Default settings:

  • 2% return for stakers = R
  • 5% platform fees = F
  • 365 days in a year = Y
  • Pay cycle: 5 days

The shortened formula for every day is: R / (100 * Y) = 2 / (100 * 365) = 5.47945E-05 = K

Let the staked amount is 100,000 FROY

The total profit would be: P = 100,000 * K * 5 = 27.39726027

  • Estimated profit will be received: P * 0.95 = 26.02739726 FROY
  • Estimated Platform fee = P * 0.05 = 1.369863014 FROY

The profit will be calculated correctly when you submit on our smart contracts.

Artist pool

(Coming soon)

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