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Update 021_manual_token_creation.md

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Will Ruddick 2021-05-12 09:32:41 +00:00
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spec/021_manual_token_creation.md
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@ -9,7 +9,7 @@ valid status values are: Pre-draft|Draft|Proposal|Accepted
* Status: Pre-draft
## Rationale
Enabeling users to create their own tokens is one of the main goals of CICs. This spec goves of the token creation process as well as conversion between tokens (to be pulled into it's own spec)
Enabeling users to create their own tokens is one of the main goals of CICs. This spec goves of the token creation process as well as conversion between tokens (to be pulled into it's own spec).
## Intro
* Today users only receive Sarafu created by Grassroots Economics
@ -19,7 +19,7 @@ Enabeling users to create their own tokens is one of the main goals of CICs. Thi
## Sarafu Network – Sarafu and New Token Minting – User Flow:
1. Users create a token issuance agreement (for Sarafu or their own token) (Sarafu Network Application)
1. Users create a token issuance agreement (for Sarafu or their own token) [(Sarafu Network Application)](https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/Sarafu_Network_Member_App_-_Draft__en_.pdf)
2. The application is audited and signed by all parties (paper form)
3. All users in the agreement dial the USSD code and setup an account (with 0 initial balance for new accounts). If they have existing tokens those will simply stay there in their account. *Note that Users with multiple tokens in their account should have an option to switch their home token to trade the other tokens.
4. GE creates the new token (or mints more Sarafu) and sends it to the users as per the agreement. Also changing their Home token to the new token if one was created.