In DeFi, dividends are a core incentive to encourage token holding and provide liquidity. This article explains, in plain technical language, the two basic dividend models, the core mechanics that make dividends possible, and the four most common user questions—so developers and community members can understand where the funds come from, who receives them, and why dividend timing is variable.
1. Two basic forms of dividends
In the smart-contract world, dividends can be described along two dimensions: who receives the dividend (recipient) and what currency is distributed (payout token).
a. Dividend recipients: Holders vs LPs
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Holding dividend: Any wallet that holds the token is eligible to receive dividends. This has the lowest barrier and the widest coverage.
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LP (Liquidity Pool) dividend: Only users who have provided liquidity on a decentralized exchange (DEX) — for example, PancakeSwap — and hold the corresponding LP tokens are eligible. This model is often used to incentivize locking liquidity and stabilizing price.
b. Payout currency: Native token vs external token
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Native-token dividend: Transaction fees (taxes) are distributed directly in the token itself.
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External-token dividend: Collected taxes are accumulated in the token contract and automatically swapped into a mainstream token (e.g., USDT, USDC, DOGE) before distribution.
2. Core logic: how dividends are implemented
At its core, dividend funding follows the principle that “the funds come from the token itself.” Each transaction’s fee (tax point) is the sole source of dividend funds.
Step-by-step implementation:
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Fee deduction: For example, a user buys 100 tokens. If the contract has a 10% dividend tax, the buyer receives 90 tokens and 10 tokens are intercepted by the contract as tax.
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Contract holding:
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For native-token dividends, the 10 tokens are distributed immediately (or in batches) to eligible addresses.
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For external-token dividends, the 10 tokens are retained in the token contract.
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Triggering the swap: When the contract’s accumulated tokens reach a configured threshold (PandaTool’s default is typically equivalent to about 0.01 of the dividend token), the contract will automatically sell those tokens for USDT on the next transaction that occurs.
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Automatic distribution: The USDT obtained is distributed by the contract to dividend recipients according to weight (e.g., holding share or LP share).
3. Four frequent user questions
Q1. Why can’t dividends be scheduled “every hour”?
Smart contracts on-chain are passive and have no built-in timers. Contract execution depends on transactions to trigger actions. If no one trades, the contract does not run; if the accumulated amount hasn’t reached the swap threshold, the contract will not convert tokens to other currencies. Therefore, dividend timing is not fixed—higher trading activity usually leads to more frequent distributions.
Q2. When distributing USDT as dividends, can the contract deduct USDT directly from buyers’ wallets?
No. A token contract can only control balances of its own token. USDT is governed by its own contract (issued by Tether or the relevant issuer), and your token contract cannot forcefully deduct USDT from users’ wallets. The correct flow is: deduct native tokens → contract swaps native tokens for USDT → distribute USDT.
Q3. What affects the dividend amount?
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Trading volume: Higher trade volume generates more tax collected, increasing the dividend pool.
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Holdings or LP proportion: Your share of the eligible pool (e.g., your held tokens vs. total eligible tokens) determines how much you receive.
Q4. Is a “marketing tax” the same as dividends?
Mechanically they are similar (both come from transaction taxes), but their purposes and recipients differ. Dividends are paid out to holders; marketing tax is typically swapped into a base asset (e.g., BNB or USDT) and sent to a project-controlled marketing wallet for promotional or operational use.
4. Conclusion
PandaTool’s dividend mechanism is an automated closed loop:
transaction fees → contract interception → auto-sell when threshold is reached → weighted distribution.
Understanding the two key points—transaction-triggered execution and selling native tokens to obtain payout tokens—will allow you to confidently explain dividend behavior to your community and stakeholders.
本文由PandaAcademy原创，如若转载，请注明出处：https://academy.pandatool.org/en_US/bsc/2322
。PandaAcademy是PandaTool旗下的Web3学习中心，专注于向普通用户提供区块链和加密货币知识输出