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Update 001_platform_incentives.md

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Will Ruddick 2020-11-11 04:07:47 +00:00
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spec/001_platform_incentives.md
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@ -9,18 +9,18 @@ valid status values are: Pre-draft|Draft|Proposal|Accepted
* Status: Pre-draft
## Rationale
The current system seeks to maximize circulation in order to fill market gaps and help CIC users to support eachother.
The current Sarafu system seeks to maximize circulation in order to fill market gaps and help CIC users to support eachother.
## Currently - bonding CIC issuance to a reserve with no market value.
Grassroots Economics created a pool of 16 Million Sarafu tokens (which they value 1:1 with Kenyan Shillings ala buy backs - see below).
The following are all rules are platform based (not blockchain contract based). Note that these rules are for the Sarafu CIC only and are not meant to be the rules for other CIC creators.
Grassroots Economics created a pool of 16 Million Sarafu tokens (which they value 1:1 with Kenyan Shillings ala buy-backs - see below).
The following are all rules are platform (statemachine) based (not blockchain contract based). Note that these rules are for the Sarafu CIC only and are not meant to be the rules for other CIC creators.
1. Outgoing Sarafu
1. **airdrop-full-profile**: New users that have traded outward and fill out their profiles (name, business, location, gender) get additional 350 Sarafu (a CIC) (Shown as Disbursement in database)
1. **airdrop-full-profile**: New users that have traded outward and fill out their profiles (name, business, location, gender) get 50 Sarafu (a CIC) (Shown as Disbursement in database)
1. **referral**: Users that are the 1st to send a new user get 50 Sarafu - after that new user has begun to trade with another user (not the referrer) (Shown as Disbursement in database)
1. **basic income / usage bonus**: Users get a daily or weekly Sarafu bonues depending on how they trade. They are ranked by the number of other people they trade above 20 Sarafu with and awarded based on their percentage of such overall trade. (Possibly moving to k-cycle centrality).(Shown as Disbursement in database)
1. **donation bonues** Anyone with Mpesa or Bonga points (National Currency eMoney) can send them to Grassroots Economics to receive additional Sarafu (Shown as Disbursement in database) Donors can give Grassroots Economics funds to support the Sarafu buy-back and operations
1. **usage reward**: Users get a daily or weekly Sarafu bonues depending on how they trade. They are ranked by trade centrality and clustering and awarded based on their percentage of such overall trade. (Possibly adding k-cycle centrality).(Shown as Disbursement in database (transaction meta-data))
1. **donation bonues** Anyone with Mpesa or Bonga points (National Currency eMoney) can send them to Grassroots Economics to receive additional Sarafu (Shown as Disbursement in database) these funds are used for community support, Sarafu buy-backs and operations
1. Incomming Sarafu
1. **holding Fee**: If an account is dormant (no trades in or out) for 30 days 80 Sarafu are deducted and added back to the pool. (Shown as Reclaimation in database)
1. **holding fee**: Users get a weekly deduction of 0.5% of their Sarafu balance - which is added to the reward pool. If an account is dormant (no trades in or out) for 7 days 20 Sarafu are deducted and added back to the reward pool. (Shown as Reclaimation in database). The total disbursment or reclamation is a combination of the usage reward and holding fee.
1. **redemption**: Selected vendors can redeem a donor designated amount of Sarafu balance for Kenyan Shillings using eMoney (Mpesa).
1. **minting/creating**: Currently the Sarafu supply is bonded to a virtual reserve token with no market value so there are no restrictions on the supply of Sarafu