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Update 006_Self_Service_Token.md

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Will Ruddick 2020-05-18 12:15:05 +00:00
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spec/006_Self_Service_Token.md
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@ -15,11 +15,13 @@ Enabeling users to create their own tokens is one of the main goals of CICs
Today users only receive tokens created by Grassroots Economics - the reserves of these tokens are donors giving to Grassroots Economics.
This means Users have very little ‘feeling’ of reserve depletion because it is not their token and not their money behind it.
We want users to be able to create their tokens to create more ownership and diffusion.
A CIC primarliy represents the goods and services committed by the Issuer - which should be a Group Account.
The CIC has an enforced 25% reserve amount.
## Token creation process - UI
(I will describe this for USSD be a web interface should also be made)
1. Existing User calls Sarafu
- New user dials *483*46# where she selects
- New user dials ***483****46# where she selects
- My Account -> Create Token
- Note that this ability is whitelisted- to be whitelisted the user must have:
1. Been a chama account in the system as an active user for some time (at least 3 months)
@ -78,13 +80,12 @@ The token owner should have his community token for auto-convert set to TOKEN_NA
This account is a GROUP account. Meaning that only it can cash out 50% a month from it’s own reserve - along with other Chama rules.
If the token has been created send the SMS for the token creation approval. Else send error.
If a users has Sarafu as their community token and end up with
## Action items:
Token Value Alerts
Whenever the token is converted to another token or nDAI and the price changes more than 10% an alter is sent to the token holders
Message Alert your BALANCE TOKEN_NAME tokens have changed in +10% / -10% value and are now worth (value of Balance in nDAI)
Note that the receipt messages for token transfers that include a conversion should also show the tokens exchange value (this is already ont he USSD system)
Whenever the token is converted to another token or xDAI and the price changes more than 10% an alter is sent to the token issuer
Message Alert your excahnge value of TOKEN_NAME tokens have changed in +X% / -X% value
Note that the receipt messages for token transfers that include a conversion should also show the tokens exchange value (this was on the old USSD system)
## Implementation