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xDAI <> MPESA

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Will Ruddick 2020-06-30 07:28:32 +00:00
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spec/007_eMoney_integration.md
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@ -3,7 +3,7 @@ When users exchange CIC <> National Currency we have to manually send them Mpesa
We would like to automate this.
## Solution ##
Configure - using our own system AfricasTalking API to automatically send Sarafu / Mpesa based on rules:
Configure - using our own system AfricasTalking API to automatically send CIC / Mpesa based on rules:
- CIC - > Mpesa
- CICs are converted to reserve on-chain and the xDAI is held in a GE account (xDAI Float)
- We send back an equivalent amount of Mpesa to the user from out MPESA float account
@ -12,31 +12,22 @@ Configure - using our own system AfricasTalking API to automatically send Sarafu
- xDAI from our xDAI float account is added to the reserve of the CIC (Home CIC of the user) and new CICs are minted
- We send back the user an equivalent amount of CIC
## Un -speced - todo ##
- Define the credit clearing process
### Variables ###
- blockchain_CIC_Supply = the total supply of the CIC on the blockchain
- blockchain_CIC_reserve = the total reserve (xDAI) of the CIC on the blockchain
- trr = the connector weight on blockchain converter between supply and reserve
- FLoat CIC: THe amount of CIC supply we have in our master wallet
- FLoat xDAI: THe amount of xDAI we have in our master wallet
- FLoat Mpesa: THe amount of Mpesa supply we have in our PayBill account
- total_CIC_sent = the total amount of CIC that has been sent to users from our Float account - this needs to be updated for each conversion and when clearing
- total_CIC_Reserve_Sent = the total amount of Reserve (xDAI) that has been sent to users from our Float account - this needs to be updated for each conversion and when clearing
- total_CIC_recieved = the total amount of CIC that has been sent to users from our Float account - this needs to be updated for each conversion and when clearing
- total_CIC_Reserve_recieved = the total amount of Reserve (xDAI) that has been sent to users from our Float account - this needs to be updated for each conversion and when clearing
- CIC_supply_b: **blockchain_CIC_Supply** - **total_CIC_sent** + **total_CIC_recieved** = this simulates/tracks the changes to the blockchain
- CIC_reserve_b: **blockchain_CIC_reserve** - **total_CIC_Reserve_Sent** + **total_CIC_Reserve_recieved** = this simulates/tracks the changes to the blockchain
- CIC_excahnge_amount = the amount of CIC they user has sent to exhange
- Mpesa_excahnge_amount = the amount of MPesa the user has sent to exhange
- Rate: USD -> KSH
- Rate: KSH -> USD
- Fees: Sarafu to Mpesa FeeCC2M = 2%
- Fees: Sarafu to Mpesa FeeM2CC = 2%
- The account to which CIC are sent should be a Agent account
- The cash-out rules for a chama (minimum and time limit)
- Alert balance levels
- Fees: Sarafu to Mpesa FeeCC2M = 2%
- Fees: Sarafu to Mpesa FeeM2CC = 2%
### Incoming CIC Rules - MPESA out ###
- *white list* The chama (group accounts only but eventually anyone) must only be able to cash out - using the exchange option to an Agent account
@ -45,10 +36,19 @@ Configure - using our own system AfricasTalking API to automatically send Sarafu
- *mpesa given* The amount of Mpesa given should be calculated as follows:
- CIC_excahnge_amount = the amount of CIC the user wants to excahnge
The Reserve (xDAI) pulled out
> reserveOut_xDAI = the amount of xDAI pulled from the reserve on-chain
- Mpesa_out = reserveOut_xDAI **USD => KSH** rate (this is from our MPESA float account)
- **Mpesa_given = Mpesa_out - Mpesa_out*S22M (fee) this is the amount of Mpesa sent to the user**
The Reserve (xDAI) to be pulled out
- reserveOut_xDAI_reported = the amount of xDAI that would be pulled from the reserve on-chain (by getting a quote on-chain)
- reserveOut_Mpesa = reserveOut_xDAI_reported **USD => KSH** rate
- reserveOut_Mpesa_reported = reserveOut_xDAI_reported **USD => KSH** rate
After the user confirms:
The Reserve (xDAI) actually pulled out
- reserveOut_xDAI = the amount of xDAI actually pulled from the reserve on-chain
- Mpesa_out = reserveOut_Mpesa_reported (this is actually given to the user) - **and GE takes on the Mpesa risk**
- reserveOut_Mpesa = reserveOut_xDAI **USD => KSH** rate (this is from our MPESA float account)
- Mpesa_risk = Mpesa_out - reserveOut_Mpesa - this should me monitored and recorded for each transactions
### Outgoing Sarafu Rules - MPESA In ###
@ -72,22 +72,35 @@ When dislaying the SPOT price or excahnge rate to a user we should use the follo
### User Interface ###
- When a user chooses to ``Redeem```:
- When a user chooses to ``Redeem get Quote```:
- They should enter the amount (limited to the max in their balance)
- They should get a confirmation Based on a quote from the blockchain in a SMS:
- The user should be asked you will recieve **Mpesa_given** for **CIC_excahnge_amount** (note this is from blockchain and will change second by second)
- You will recieve **Mpesa_given** for **CIC_excahnge_amount** please confirm this quote in the USSD menue to proceed: (note this is from blockchain and will change second by second)
- The user will return to the USSD menu
- They navigate back to exchange in less than 1 minute and 'confirm exchange quote' (new USSD excahnge menu needed) (the 'confirm Redeem excahnge quote')
- 'confirm Redeem quote' will only show up for a minute - otherwise they have to ask for another quote
- Please type your PIN to confirm
- The user should get a Mpesa responce for recieving the Mpesa
- The user should get a Mpesa responce for recieving the **Mpesa_given**
- When a user chooses to ``Contribute```:
- When a user chooses to ``Contribute get Quote```:
- They should enter the amount of Mpesa they wish to contribute
- They should get a confirmation:
- Based on the above equations:
- The user should be asked you will revice **CIC_given** for **Mpesa_excahnge_amount**: Please type your PIN to confirm
- They will then get instructions on USSD as well as a SMS on how to send Mpesa or Bonga boints to our Lipa na Mpesa
- They should get a confirmation Based on a quote from the blockchain in a SMS:
- You will recieve **CIC_given** for **Mpesa_excahnge_amount** please confirm this quote in the USSD menu to proceed: (note this is from blockchain and will change second by second)
- The user will return to the USSD menu
- They navigate back to exchange in less than 1 minute and 'confirm exchange quote' (new USSD excahnge menu needed) (the 'confirm Contribute excahnge quote')
- 'confirm Contribute exchange quote' will only show up for a minute - otherwise they have to ask for another quote
- Please type your PIN to confirm
- The user should get a SMS responce from GE for recieving the **CIC_given**
### Credit Clearing ###
Weekly or after alterts we will rebalance our xDAI and Mpesa float accounts.
As our float account gets more and more full of xDAI (and mpesa float shrinks) - we will convert the xDAI to Mpesa
via xdai.io to get ETH - then using localcryptos or BitCoinSuisse to get Kenyan Shilllings / Mpesa (note there are MANY fees along this path)
If we get a large amount of Mpesa and want to convert to xDAI -> CIC ... then we send the Mpesa eitheir to localCryptos or bitcoinSwuiss to get ETH
then we use xdai.io to convert that ETH to xDAI ... then we add that to our xDAI float
### Security ###