From ce824818a332d44182339a33dbab5aa4ce838d40 Mon Sep 17 00:00:00 2001
From: Will Ruddick <willruddick@gmail.com>
Date: Sat, 18 Jul 2020 05:14:16 +0000
Subject: [PATCH] bDai

---
 ...ration.md => 002_dai_reserve_migration.md} | 23 ++++---------------
 1 file changed, 5 insertions(+), 18 deletions(-)
 rename spec/{002_xdai_migration.md => 002_dai_reserve_migration.md} (69%)

diff --git a/spec/002_xdai_migration.md b/spec/002_dai_reserve_migration.md
similarity index 69%
rename from spec/002_xdai_migration.md
rename to spec/002_dai_reserve_migration.md
index 817ca65..aa4d5a2 100644
--- a/spec/002_xdai_migration.md
+++ b/spec/002_dai_reserve_migration.md
@@ -1,4 +1,4 @@
-# xDAI Migration spec
+# x/bDAI Migration spec
 
 <!--
 valid status values are: Pre-draft
@@ -10,36 +10,23 @@ valid status values are: Pre-draft
 
 ## Rationale
 We want to give donors and community members a way to contribute to and cash-out from Community Inclusion Currencies with National Currency. 
-By connecting to a reserve that is stable to the US dollar called xDAI we bring some stability and the ability for many to support local communities. 
-We also enable any CICs that have xDAI as a reserve to convert to any other CIC with xDAI as reserve. 
+By connecting to a reserve that is stable to the US dollar called x/bDAI we bring some stability and the ability for many to support local communities. 
+We also enable any CICs that have bDAI as a reserve to convert to any other CIC with bDAI as reserve. 
 
 ## Before 
 Currently we are using a virtual reserve a generic ERC20 token. We have 2 Million of those reserve tokens against 8 Million Sarafu issued (the current Kenyan CIC). (Call those Sarafu_1 or S1)
 
 ## After
-We have 40,000 xDAI to put as the reserve and are looking at minting (16Million) tokens (called Sarafu_2 S2)
+We have 40,000 DAI to bridge to a bDAI token and put as the reserve and are looking at minting (16Million) tokens (called Sarafu_2 S2)
 with a connector weight (target Reserve Ratio) of 0.25 (25%) and an inital price of roughly 100 Sarafu to 1 xDAI (USD stable) 
 (Note that the 100 Sarafu to 1 xDAI will approximate the Kenyan Shillings to USD rate)
 
 ## Implementation
 
-Each existing user should have a completley new wallet and private key for security reasons and be given the same balances they currently have with the new (xDAI reserve) Sarafu. Roughly 8Million Sarafu_1 in wallet will be replaced with Sarafu_2
+Each existing user should have a completley new wallet and private key for security reasons and be given the same balances they currently have with the new (bDAI reserve) Sarafu. Roughly 8Million Sarafu_1 in wallet will be replaced with Sarafu_2
 
 ### Workflow
 
-> lash: what's meant by public and private functions here?
-
-> will: I'm just considering what should be private=internal=only the owner can use vs public functions ....
-> Also can we make some of the internal/private functions permissionless post creation (i.e. remove them/ block the doors) ... Upgradability?
-
-> lash: private keys: should we take the opportunity of setting up deterministic wallets? perhaps even on the platform we may want to shuffle private keys once in awhile.
-
-> will: Yes and no. For now on the platform we really want easy trackability to track donor impacts .... I would leave this for the web wallet etc. I just want to make sure the private keys are all secure - who has access etc.
-
-> lash: what is a "facilitator address"?
-
-> Will: Lets remove this - see depth_bump comments
-
 1. Synch db <->Blockchain - ensure synronization between our db (USSD interface) and blockchain
 1. Finalize any contract changes to Bancor Suite (such as [Depth Bump](https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/spec/003_depth_bump.md)) 
 1. Create Public vs Private Functions - Contracts as permissionless as possible