An extension to the ERC-20 standard token that allows Token wallet owners to request payout from their wallet, by calling the smart contract and attaching a payout instruction string.
The person or company who owns the wallet, and will order payout.
The entity, company responsible/owner of the token contract, and token issuing/minting. This actor is in charge of trying to fulfill all payout request(s), reading the payout instruction(s), and correlate the payout details.
An actor who is enabled to initiate payout orders on behalf of a token wallet owner.
Token wallet owners (or approved addresses) can order payout requests through blockchain. This is done by calling the orderPayoutFrom or orderPayoutFrom methods, which initiate the workflow for the token contract operator to either honor or reject the payout request. In this case, payout instructions are provided when submitting the request, which are used by the operator to determine the destination of the funds.
In general, it is not advisable to place explicit routing instructions for the payouts on a verbatim basis on the blockchain, and it is advised to use a private communication alternatives, such as private channels, encrypted storage or similar, to do so (external to the blockchain ledger). Another (less desirable) possibility is to place these instructions on the instructions field in encrypted form.
Nowadays most of the token payout requests, need a previous centralized transaction, to be able to define the payout destination to be able to execute the payout (burn transaction). In the aim of trying to bring all the needed steps into decentralization, exposing all the needed steps of token lifecycle and payment transactions, a payout request can allow wallet owner to initiate the payout order via blockchain. Key benefits:
In this case, the following movement of tokens are done as the process progresses:
Ordered stateInProcess, which prevents the orderer of the payout from being able to cancel the payout requestFundsInSuspense stateExecuted stateInProcess, the operator can also reject the payout, which returns the funds to the payer and eliminates the hold. The resulting end state of the payout is RejectedOrdered and before the operator places it into the InProcess state, the orderer of the payout can also cancel it, which frees up the hold and puts the payout into the final Cancelled stateWallet owner, allows a given address to be payout orderer.
| Parameter | Description |
|---|---|
| orderer | The address of the orderer. |
Wallet owner, Revokes a given address to be payout orderer.
| Parameter | Description |
|---|---|
| orderer | The address of the orderer. |
Creates a payout request, that will be processed by the token operator. The function must revert if the operation ID has been used before.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request |
| value | The amount to be paid out. |
| instruction | A string including the payment instruction. |
Creates a payout request, on behalf of a wallet owner, that will be processed by the token operator. The function must revert if the operation ID has been used before.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request |
| walletToBePaidOut | The wallet to be paid out on behalf. |
| value | The amount to be paid out. |
| instruction | A string including the payment instruction. |
Cancels a payout request.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request that is going to be cancelled. This can only be done by token holder, or the payout initiator/orderer. |
| reason | The specific reason that explains why the payout request was rejected. EIP-1066 codes can be used. |
Marks a payout request as on process. After the status is on process, order cannot be cancelled.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify that the request is in process. |
Put a given payout in suspense. Can only be done if it is in process.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify that the request is in process. |
Burn the amount of tokens and marks a payout request as executed.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request that has been executed. |
Rejects a given operation with a reason.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request that has been executed. |
| reason | The specific reason that explains why the payout request was rejected. EIP-1066 codes can be used |
Checks that given player is allowed to order payout requests, for a given wallet.
| Parameter | Description |
|---|---|
| walletToBePaidOut | The wallet to be paid out, and checked for approval permission. |
| orderer | The address of the orderer, to be checked for approval permission. |
Retrieves all the payout request data. Only operator, tokenHolder, and orderer can get the given operation data.
| Parameter | Description |
|---|---|
| orderer | The address of the orderer, to correlate the right data. |
| operationId | The unique ID to identify the payout order. |
Emitted when an token wallet owner orders a payout request.
| Parameter | Description |
|---|---|
| operationId | The unique ID to identify the request |
| walletToBePaidOut | The wallet that is requested to be paid out |
| value | The amount to be funded. |
| instruction | A string including the payment instruction. |
Emitted when an operator puts fund in suspense.
| Parameter | Description |
|---|---|
| orderer | The address of the payout request orderer. |
| operationId | The unique ID to identify the payout. |
Emitted when an operator accepts a payout request, and the operation is in process.
| Parameter | Description |
|---|---|
| orderer | The address of the payout request orderer. |
| operationId | The unique ID to identify the payout. |
Emitted when an operator has executed a payout request.
| Parameter | Description |
|---|---|
| orderer | The address of the payout request orderer. |
| operationId | The unique ID to identify the payout. |
Emitted when an operator has rejected a payout request.
| Parameter | Description |
|---|---|
| orderer | The address of the payout request orderer. |
| operationId | The unique ID to identify the payout. |
| reason | The specific reason that explains why the payout request was rejected. EIP-1066 codes can be used |
Emitted when a token holder, orderer, has cancelled a payout request. This can only be done if the operator hasn't put the payout order in process.
| Parameter | Description |
|---|---|
| orderer | The address of the payout request orderer. |
| operationId | The unique ID per payout issuer to identify the payout. |
Emitted when a given player, operator, company or a given persona, has been approved to start payout request for a given token holder.
| Parameter | Description |
|---|---|
| walletToBePaidOut | The wallet that the player is allowed to start payout requests |
| orderer | The address that allows the player to start requests. |
Emitted when a given player has been revoked initiate payout requests.
| Parameter | Description |
|---|---|
| walletToBePaidOut | The wallet that the player is allowed to start payout requests |
| orderer | The address that allows the player to start requests. |
This standards provides a functionality to allow token holders to start payout requests in a decentralized way.
It's important to highlight that the token operator, need to process all payout request, updating the payout status based on the linked payment that will be done.
Payout instruction format is open. ISO payment standard like is a good start point.
This EIP uses EIP-1996 to hold the money after a payout is ordered. The token contract owner or agent, whose implementation is not part of this proposal, acts as a predefined notary to decide if the payout is executed or not.
The operationId is a string and not something more gas efficient to allow easy traceability of the hold and allow human readable ids. It is up to the implementer if the string should be stored on-chain or only its hash, as it is enough to identify a hold.
The operationId is a competitive resource. It is recommended, but not required, that the hold issuers used a unique prefix to avoid collisions.
This EIP is fully backwards compatible as its implementation extends the functionality of ERC-20 and [ERC-1996].
The GitHub repository IoBuilders/payoutable-token contains the reference implementation.
This proposal has been collaboratively implemented by adhara.io and io.builders.
Copyright and related rights waived via CC0.