Description of the AMBER TRADE’s dividends management system
The system is based on monitoring of the balances of AmberCoin wallets registered in the company. How the company plans to do this is described below.
In the Q1 2015 the system will work in a simplified mode. On 29, 30 and 31 of March we will make a snapshots of wallets’ balances registered in the company by this moment. The average value will be considered as a wallet’s share in the company in Q1 2015. The wallet registration date will be considered as well. For example, if the wallet was registered on March 15, and its balance is 100,000 Amber, then the total share for Q1 2015 is 0.1%, and the total dividend payment will be 1/6 of the estimated amount for the Q1 2015 (15 days / 90 days).
The Q1 2015 profit of Amber Trade which will be available for distribution as dividends will be determined at 15-20 of April. The company will make the payments of dividends to each shareholder in accordance with its share in the company not later than April 25.
From April 1-st company’s dividends management system will be changed and will work as following: all balances of wallets registered in the company will be checked several times per day automatically. Every day during the quarter. Thus by the end of the quarter for each wallet will be determined an average share on the basis of which dividends will be paid. If the wallet’s balance is less than 10,000 Amber, it is assumed to be 0.
As for the participation of exchanges (pools) in this process, they can register one or more of their wallets in the company and receive dividends. But in order to divide those dividends between the participants they need to develop a separate accounting system, which, I am sure, any exchange (pool) will not do.
The company does not plan to monitor the coins' movement on an unregistered wallets regardless of their balance.
Thus keeping the coins on the registered wallets will be an advantage for every shareholder.
The minimum threshold of the entrance to the 10,000 Amber was chosen by chance, as one share is equal to 0.01% of the company.
The key AmberCoin’s difference from a similar coins is that AmberCoin really represents the company's shares. And the dividends are paid not in the coin, as most does, but in Bitcoins, $ or Euros, while the number of coins in your wallet during the reporting period only affects their size.