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PhiGuy

COIL Profits - Interesting Revenue Sharing Dynamic

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I thought this was worth re-posting for those who may be considering COIL enabling their content:

 

As @NightJanitor has previously pointed out:

"the real innovation here being that there can be multiple payment receipt endpoints and that a share percentage could be established, upfront, before the money entered into one entity and then had to be further split, from there.  Some interesting tax benefits/scenarios with that, also..."

 

From Research Omega:

"Monetizing content is vital for the future of content creators. Many content creators have given up on projects that were sound and important, due to the lack of monetization. The Coil universe is opening up for this, bringing even more creativity into the world.

Coil is not disrupting the ad industry, but rather complementing and reviving an old and great idea: Direct payment from consumer to content creator.

During the last couple of days I have been testing and making experiments. One of the more interesting things I came across is the splitting of Coil profits.
Imagine if you (as a content creator) could split the incoming Coil stream between yourself and a Charity?

In my case I have chosen StJude to be my secondary Coil receiver for a while. Maybe I will choose another Charity later on as my secondary receiver. You can change receivers as much as you like.

An important thing to know here is that in order to implement this code, you do NOT need to be a paying Coil subscriber! The only ones who need a paid Coil subscription are the ones who are donating. So as a content creator, wanting to include e.g. StJude as your secondary receiver, just go ahead and do it.

Code to place in header

<script src="https://polyfill.webmonetization.org/polyfill.js"></script>
& lt;script src="https://cdn.coil.com/donate.js"></script>
& lt;script>
window.WebMonetizationScripts.donate({
   paymentPointer: '$twitter.xrptipbot.com/research_omega'
})
& lt;/script>
& lt;script>
window.WebMonetizationScripts.donate({
   paymentPointer: '$twitter.xrptipbot.com/stjude'%2C
addCoilAdvert: true
})
& lt;/script>

Replace the payment pointers marked Red, in the above code. The first one with your own pointer and the second one with a Charity pointer e.g. Stjude. 

 

Non gibberish version (not encoded):

If you prefer to insert a non-encoded version of the code, use the one below instead:
< script src="https://polyfill.webmonetization.org/polyfill.js"></script>
< script src="https://cdn.coil.com/donate.js"></script>
< script>
window.WebMonetizationScripts.donate({
   paymentPointer: '$twitter.xrptipbot.com/research_omega'
})
< /script>
< script>
window.WebMonetizationScripts.donate({
   paymentPointer: '$twitter.xrptipbot.com/stjude',
  addCoilAdvert: true
})
< /script>

Replace the payment pointers marked Red, in the above code. The first one with your own pointer and the second one with a Charity pointer e.g. Stjude.

Testing and observations

I am testing this in the Chrome browser. If you would like to test if it works you can inspect your Chrome DevTools Elements panel, by right clicking and pressing "Inspect" on the Coil element

Then you wil be able to see the counters (Both Counters) running

The first counter in the top is your own and the second one is the counter for StJude.

Observation A: As far as I have experienced, the split is not exactly 50% all the time, there are small differences runtime, e.g. sometimes StJude gets more, sometimes you get more, but the difference is not that big and I guess it will even out in the long run. I will do some further testing on it later on,

Observation B: You can duplicate the code part

< script>
window.WebMonetizationScripts.donate({
   paymentPointer: '$twitter.xrptipbot.com/stjude'
})
< /script>

as many times as you want, splitting the profits even further. If you want to split it 3 ways, giving approximately 33% to each, just duplicate to 3 pointers! I am not sure where the limit is for splitting but it works fine with 2 pointers.

Observation C: A new feature has been added to the Coil code, the "addCoilAdvert: true" shows an ad for Coil if a visitor do no have a Coil subscription when they visit your Coil enabled webpage. It will look like this for non-coil subscribers:

Any Coil subscribers will not see the text "Support this site with Coil", instead the Coil subscriber will see the Coil counter.

If you would like to read more background info on the Coil ecosystem and additional settings/guides I recommend visiting @Stedas Blog about Coil

Happy Coding!"

 

Source: https://researchomega.blogspot.com/2018/10/splitting-your-coil-profits-with.html

 

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39 minutes ago, Tinyaccount said:

So does this mean that to send ten percent to St Jude you would need ten inserts, nine of which are your endpoint and the other is St Jude?  That seems clumsy but doable.

It appears so. To quote @NightJanitor "This is an inelegant implementation - hacky - but it works". Looking forward to seeing how Stefan and group address/improve this.

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6 hours ago, zerpdigger said:

forgive me if i misunderstand, but wouldnt it just be easier to split it out using some kind of automation at the wallet side, the wallet that collects profits?

That might create a sticky legal /tax liability situation. I think they want the channels to flow directly from COIL to the recipient(s) rather than one wallet designed to be split off and sent to other endpoints.

I just think it's neat that this can be done, opens up several new doors :)

 

*Edit - If wallet 1 was to calculate & send various %'s to other recipients you might be deemed a MSB in Canada. Am looking into it now-

Edited by PhiGuy

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