For "Token Contract Default Royalty" UI asks for "Basis Points" but this concept isn't sufficiently explained with Example: 10% = 1000 Basis Points.

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For "Token Contract Default Royalty" UI asks for "Basis Points" but this concept isn't sufficiently explained with Example: 10% = 1000 Basis Points. #14

Closed TimDaub closed 2 years ago

TimDaub commented 2 years ago

As a user I want to understand why I can't simply set 10% = 1000 Basis Points. If the later statements is indeed reality, then why can't I straight up set percentages? So what is this concept of Basis Points? Where can I look it up? The FAQ makes no mention of the concept.

wwhchung commented 2 years ago

A basis point is a standard financial term https://www.investopedia.com/terms/b/basispoint.asp