NFT Contract

Contracts are like digital blanks that can be given properties and functions. A function is usually shown as "If ..., then ..., else ...". An example: If 10,000 euros have been paid into the contract, then you can move the money from the property out of the property to the wallet. Since a contract can also be divided into units and is not necessarily of a financial nature, the units can also correspond to an authorization, such as a ticket to an event or a unit corresponds to membership of an association, depending on the business model and use case, contracts take an individual form, which is set out in contract conditions. The contract is related to a trademark license agreement for the Gudix brand.

What is to be observed?

A contract can be created like a token, at the push of a button. The contract is called an object. At least one nut must be invested. Objects can be changed as long as there is only one contract partner, i.e. as long as the units of the contract are not distributed. A party becomes someone who purchases, receives, or imports a unit of the contract. The contract can be broken down into units from 1 to 100,000,000,000.

Owner

The owner of the contract is the one who owns 51% or more of the units. The owners are mostly the creators of the contracts. The owner has special rights. For example, income from a contract is transferred to the owner. The owner has access to funds on the contract. Subscription deductions that are regularly deducted from the holder's accounts are not deducted by the owner.

Holder

A holder is the contractual partner of the owner. The one who holds at least one unit of the contract. The holder can liquidate his contracts at any time and thereby loses the rights to the contract. When there is value on the contract, the money is no longer accessible. Holders can also be customers and do not necessarily have to be financial partners.


Contract Conditions for genix


icon

The symbol of your object. You can find a list of all symbols HERE. The color of the symbol must also be defined.

Example:
mdi-codepen text-neon-carrot

minichart

As soon as objects have been sold on the exchange and a course has developed, a mini-chart is displayed in the dashboard. This mini-chart can be deactivated.

payinhandler

There are four options:

Owner
The token owner receives the money that is deposited.

Holder
The paid-in amount will be divided and given to the token holder in proportion. If an amount is less than CHF 0.01 (1 cent), the holder in question will not receive anything. After the payment run, the unpaid amount goes to Gudix GmbH

permission
The amount is credited to your own wallet, but the token is authorized to withdraw the corresponding amount. A withdrawal can only be carried out by the owner

balance
The amount paid is saved in the balance of the token.

allTokenHolder
The amount will be distributed to all token holders, included the owner.

crowd
Funds are saved in the balance of the token and distributed to the crowd once a day.

quant

Defines the minimum number of units that should be acquired with the purchase via the transaction form.

exchange

The exchange buttons are shown or hidden. The exchange remains accessible at all times with the corresponding URL. However, it cannot be accessed from the dashboard via any button. Also with the value false the object does not appear in the public exchange list.

genesis

Show / hide Genesis.

balancelist

In addition to the holder list, the balances of the objects are displayed. An object can be topped up with credit. The credit can be pushed back into the wallet at any time

balance

The balance activates the function that money can be paid into the property and kept. The owner of the property (+ 51%) has, in addition to the holder, resp. the payer have access to the credit. Credit can be returned to the wallet at any time.

crowd

This is the regulation of contracts for outgoing value. Value is transferred from the owner's wallet to the crowd when available. Perfect for a crowdfunding projects. With these parameters you commit yourself to pay back money through the contract.

weight
The weight in percent (50 = 50% weight) that should be transferred to the crowdfunders when a payment is received for a customer related to the token stands. Example: https://gudix.net/payment/genix?handler=crowd - In this example you can find the handler in the GET parameters. If CHF 100 is earned here (parameter amount), an amount of CHF 30 is played on the token with a weight of 30%. This CHF 30 will then be distributed to the crowdlender.

distributing
2 options: \'random\' or \'weight\'. In the case of random, the amount will be distributed to the crowdlender at random. The weighted amount is distributed via \'weight\'. A token holder with twice as many units has twice the probability of being selected.

deduction
indicates whether the number of token units is reduced with every payout to the crowdlender. 1 = YES, 0 or (empty) = NO. Is suitable for reducing debt.

tokenvalue
If no token value is set, but a deduction is activated, a token unit will be paid back to the owner for each payout, regardless of the amount of the payment. If, on the other hand, a token value is set, the number of token units adapts to the amount paid out. Example: A crowdlender receives CHF 20.- paid out with a token value of CHF 2 per unit, then 10 token units are sent back to the owner.


subscription

Subscription entitles you to a regular deduction from the balance. For example, if you define an amount under monthly, the amount is deducted from the balance every month and processed according to Payinhandler. Subscription is useful for e.g. clubs or associations that regularly request contributions from members. The amount that is entered here is given in Swiss Francs x100, which is cents (Rappen). One Swiss franc consists of 100 cents (Rappen).

deduction
the set value is the units of the token that is deducted from each subscription payment and transferred to the owner.

cashback

amount
How many Swiss francs should be deducted after the interval has elapsed and transmitted to the holder. This amount is decisive for the coverage index of the contract in the exchange. Each interval is calculated separately for each holder. The amount is defined per unit. The first payment always takes place after the time frame defined in the interval has expired. The amount is given in cents (100 cents = 1 Swiss franc).

important note
This parameter is used to calculate the coverage of the contract over an interval period. Example: If 500 units with an interval of 'monthly' are in circulation, it is calculated how much tokenized value is in the owner's wallet and whether this value is sufficient to cover all payments for an interval. With a value of 200 (= CHF 2.- per unit), CHF 1000.- would have to be on the owner's wallet at any time in order to achieve a 100% coverage index in the exchange.

interval
allowed are daily, weekly, monthly, yearly. The amount that is defined in the 'amount' field is transferred to the holder after this interval. The payments to the holder are automatically installed with a lead time of 1-47 hours and run regularly before the first payment.

deduction
indicates whether each payment to the holder, the Number of token units is reduced. Example: If the holder owns 50 units and a 'deduction' is programmed, the holder has this on 50 cashback payments

MinCoverPercent
The cover is checked daily. If 10 is specified here, at least 10% of all cashback payments within an interval must be covered every day in order for payouts to be made. If coverage is not guaranteed, the next parameter 'ErrorDaysInRow' is incremented. The default is 10%.

ErrorDaysInRow
If the number of days in a row on which there was a shortfall, the cashback function is deactivated. The cashback contract is terminated. The default is 30 days.

url

URL for your project. Can also be Whitepaper. In the Exchange, this url is linked to your website.

holderlist

If the holder list is activated, the WORKSPACE | HOLDER displays a list of all holders

holdconfirmation

hideon1

if the holder only owns one unit, the number is hidden.

releasefunds

There are 2 optional OR parameters. The timestamp is to be defined as a Unix timestamp. Amount is the number of cents that must be achieved in order to use the funds on the property. When a time or an amount is reached, the holder can use the funds via a button on the dashboard. Without any input, the owner can dispose of the funds at any time. What happens when the funds are 'released' is controlled by the payinhandler. The default is defined asowner.

intrinsic

The intrinsic value cannot be completely deactivated, but it can be controlled whether it is displayed or not.

todo

amount

If something has to be paid in for a token, you can define how high the amount should be. If no amount is defined, the payer himself decides how high the amount should be.

liquidation

The liquidation function is hidden, but can be controlled at any time via the API

permission

The authorization function is hidden or shown.

payout

Owners of a contract with a payout function have the option of selling the tokenized funds, which is stored as a balance on the token, to the token owner. The token owner receives a message and pays the seller with a bank transfer. The tokenowner receives the tokenized funds credited to his wallet and, if he has installed a more conditional contract, can resell the value with a small profit margin.