From 607d42c3e44683bcb28755449e77e6567fb45511 Mon Sep 17 00:00:00 2001 From: Will Ruddick Date: Tue, 30 Jun 2020 07:42:57 +0000 Subject: [PATCH] Update 007_eMoney_integration.md --- spec/007_eMoney_integration.md | 25 ++++++++++++++----------- 1 file changed, 14 insertions(+), 11 deletions(-) diff --git a/spec/007_eMoney_integration.md b/spec/007_eMoney_integration.md index e27a410..14443ad 100644 --- a/spec/007_eMoney_integration.md +++ b/spec/007_eMoney_integration.md @@ -9,8 +9,7 @@ Configure - using our own system AfricasTalking API to automatically send CIC / - We send back an equivalent amount of Mpesa to the user from out MPESA float account - Mpesa -> CIC - Mpesa are added to our float Mpesa account. - - 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 + - xDAI from our xDAI float account is added to the reserve of the CIC (Home CIC of the user) and new CICs are minted and sent to the user ### Variables ### @@ -30,13 +29,12 @@ Configure - using our own system AfricasTalking API to automatically send CIC / - Alert balance levels ### 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 - - *amount* The max cash out is the minimum of (30,000 Sarafu, half their balance, their total amount of outward trade volume to other users (standard transactions) - - *time* They can only cash out once per month + - *white list* The chama (group accounts only but eventually anyone) can cash out - note the chama limits + - *amount* See KYC_limit max, supply_max - *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) to be pulled out +The Reserve (xDAI) to be pulled out (reported): - 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 @@ -46,7 +44,7 @@ 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** +- **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 @@ -56,13 +54,18 @@ The Reserve (xDAI) actually pulled out - *amount* The max sarafu out is 20,000 Sarafu per user, KYC_limit max, supply_max - *time* No limit - *Mpesa_excahnge_amount* The amount of CIC given should be calculated as follows: - - reserveIn_xDAI = Mpesa_excahnge_amount **KSH => USD** rate (this will come out of the xDAI float account) + - reserveIn_xDAI = (Mpesa_excahnge_amount - Mpesa_excahnge_amount* fee) **KSH => USD** rate (this will come out of the xDAI float account) -The amount cashed in = cash_in_amount +The CIC to be created (reported for quote): -> CIC_Created = the amount of CIC created on chain by adding the reserveIn_xDAI + - CIC_Created_reported = the amount of CIC created on chain by adding the reserveIn_xDAI + +After the user confirms: + + - CIC_Created = the amount of CIC created on chain by adding the reserveIn_xDAI - - **CIC_given = CIC_Created - CIC_created*FeeM2CC ()** + - **CIC_given** = CIC_Created_reported + - CIC_risk = CIC_given - CIC_Created - this should be monitored and recorded for each transaction ### Exchange Rate ###