From a06ce4167a1aa1bca891adb586925ef61dbceefc Mon Sep 17 00:00:00 2001 From: WillRuddick Date: Thu, 23 Apr 2020 08:59:35 +0300 Subject: [PATCH] Update platform_incentives.md --- spec/platform_incentives.md | 5 +++-- 1 file changed, 3 insertions(+), 2 deletions(-) diff --git a/spec/platform_incentives.md b/spec/platform_incentives.md index a96d340..a99d0e9 100644 --- a/spec/platform_incentives.md +++ b/spec/platform_incentives.md @@ -29,11 +29,12 @@ After the migration to xDAI (https://github.com/GrassrootsEconomics/CIC-Docs/blo anyone (with access to blockchain) in the world can contribute reserve in the form of xDAI. xDAI is a stable token to the US dollar and can be purchased with USD. With a reserve in xDAI each Sarafu token will now have spot price or excahnge price to xDAI given by P = R/(S*TRR) Where R = the amount of xDAI in reserve, S= the total supply of Sarafu, and TRR = Target Reserve Ratio = that ratio of R/S such that the echange price is 1:1. -1. Grassroots Economics will continue to buy the vouchers off on a regular basis 1:1 from Savings groups. +1. Grassroots Economics will continue with all the above incentives and to buy the vouchers off on a regular basis 1:1 from Savings groups. 1. Any funds going into the reserve will increase the price and mint additional Sarafu following a bonding curve. -1. Grassroots Economics will destroy Sarafu to pull out excess reserve and convert that xDAI to Kenyan shillings to continue. 1. Anyone with a webApp or MetaMask can add xDAI and mint more Sarafu (+) increase the value of all Sarafu 1. Anyone with a webApp or MetaMask can add send Sarafu to the converter contract to destry it and withdraw reserve (-) decreasing the value of all Sarafu +1. As the reserve of Sarafu is depleted and the exchange price drops Grassroots Economics as well as other donors will add more reserve and mint more tokens to distribute. +1. Grassroots Economics will destroy Sarafu it collects through buy backs to pull out excess reserve and convert that xDAI to Kenyan shillings to continue with Savigns Group buy backs. ## Implementation