ERC-7641: Intrinsic RevShare Token
ERC-7641 is an extension of the standard ERC-20 token, designed to integrate a seamless revenue-sharing mechanism directly into the token's functionality. It allows token holders to claim and redeem a proportional share of a communal revenue pool, enhancing the token's utility and promoting active participation in the ecosystem.
ERC-7641 is a core component of the Initial Model Offering (IMO).
Revenue Sharing for Token Holders: Provides a standardized method for distributing revenue among token holders, rewarding them for their participation and investment.
Funding for Projects: Enables any project, including open-source initiatives, to tokenize their revenue streams, fostering sustainable development and community engagement.
Flexibility and Fairness: Maintains the essential attributes of ERC-20 tokens while introducing mechanisms for fair revenue distribution and deflationary economics through token burning.
Claimable Revenue: Token holders can periodically claim a portion of the revenue pool based on their token holdings at specific snapshots.
Snapshot Functionality: Snapshots capture token balances and claimable revenue at certain points in time, ensuring accurate and fair distribution.
Proportional Distribution: Revenue between snapshots is distributed proportionally to token holders, with a specified sharing ratio determining the portion allocated for claims.
Token Burning: Holders can burn their tokens to redeem a proportional share of the revenue pool, contributing to a deflationary model.
Redeemable Value: The value redeemed upon burning is calculated based on the holder's share of the total token supply and the total redeemable revenue in the pool.
Deflationary Economics: Reduces the total token supply over time, encouraging long-term holding.
The ERC-7641 standard introduces several interfaces to facilitate its functionality:
IERC7641Defines the primary functions for revenue sharing and token burning:
claimableRevenue(address account, uint256 snapshotId): Calculates the amount of ETH claimable by a token holder at a specific snapshot.
claim(uint256 snapshotId): Allows a token holder to claim their share of ETH based on a snapshot.
snapshot(): Creates a new snapshot of token balances and claimable revenue, returning a unique snapshot ID.
redeemableOnBurn(uint256 amount): Calculates the amount of ETH redeemable upon burning a specified amount of tokens.
burn(uint256 amount): Burns a specified amount of tokens and redeems the corresponding share of the revenue pool.
IERC7641AltRevTokenAn optional extension to support revenue sharing with alternative ERC-20 tokens beyond ETH:
claimableERC20(address account, uint256 snapshotId, address token): Calculates the amount of a specific ERC-20 token claimable by a holder at a snapshot.
redeemableERC20OnBurn(uint256 amount, address token): Calculates the amount of a specific ERC-20 token redeemable upon burning tokens.
ERC-7641 enables open-source projects to tokenize their revenue streams, providing sustainable funding and incentivizing contributions. By distributing Intrinsic RevShare tokens to contributors, projects can reflect involvement and share revenue proportionally.
Combining ERC-7641 with the concept of an Initial Model Offering (IMO), open-source developers can conduct fundraising for new AI model development and create ongoing communities for their projects. Token holders benefit from revenue generated by the AI models, fostering a collaborative and sustainable ecosystem.
Reference Implementation: GitHub Repository
ERC-7641 Proposal: Ethereum Improvement Proposal
Related Concepts:
ERC-7007: Verifiable AI-Generated Content Token