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+# Current Platform Incentives spec
+
+<!--
+valid status values are: Pre-draft|Draft|Proposal|Accepted
+-->
+* Authors: Will Ruddick <willruddick@gmail.com> (grassecon.org)
+* Date: 2020.05.18
+* Version: 1
+* Status: Pre-draft
+
+## Rationale
+Enabeling users to create their own tokens is one of the main goals of CICs 
+
+## Intro 
+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.
+
+## 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 
+  *. My Account -> Create Token
+
+  Note that this ability is whitelisted- to be whitelisted the user must have:
+  1. Been in the system as an active user for some time (at least 1 month)
+  1. Have a substantial balance (his CIC converted to reserve) to reach at least 25% reserve. Minimum 100 USD in value DAI. Which will staked into the converter and leveraged into $400 of CIC tokens (the value changes as reserve is removed). 
+
+2. Default Token Options
+  *. Based on the users location the system has preset defaults:
+  1. 25% Target Reserve Ratio (1:1 with reserve)
+  1. Minimum initial reserve is $100 USD in value
+
+3. Chosen Options
+  1. Token Name (limited to 9 characters (auto converted to lowercase no special letters) (TOKEN_NAME)
+  2. Reserve amount (the minimum is 10,000 Kenyan Shillings in value- higher amount means a higher price of the final tokens) - Max is the user’s current balance. Note that this10,000 Kenyan Shillings can be in the form of other tokens and converted to Sarafu.
+  3. How many initial members? (NUM)MEMBERS)
+  4. How much will initial members receive (INITAL_NEWUSER_AMT) (maximum is MAX_CIC_CREATED/NUM_MEMBERS)
+  5. Note that members must ‘join’ the token (via USSD) using the TOKEN_NAME to receive this.
+
+4. Pin 
+“Enter PIN
+_______________” 
+
+Repeat Pin 
+“Enter PIN again  
+_______________”
+
+Pop Up: 
+“Your TOKEN_NAME token is being created. 
+You’ll receive an SMS when your token is ready.”  
+
+Error:
+If the user doesn’t repeat the same password pop up with the text 
+“Wrong PIN, please try again” 
+
+Clicking back will lead to Repeat Pin screen
+
+5. “You will receive an SMS when your TOKEN_NAME token is ready”
+
+
+6. Approval
+
+  At this stage, the wallet creation starts confirmation SMS will be sent only when the Backend process (see below) is over.
+
+  If token creation succeeds: 
+  Send an SMS to the user with the following text 
+
+SMS: 
+“You have just created the TOKEN_NAME token!
+Dial *483*46# Airtel or *384*96# to use TOKEN_NAME token
+Tell your members to JOIN TOKEN_NAME via My Account”
+
+If account creation fails: 
+Send an SMS to the user with the following text: 
+“Whoops! There was a problem creating your token. To try again Dial *483*46#. If issues persist contact support: 0757628885”
+
+Token creation process - Backend 
+
+Start this process between step 5 to 6,
+Save all the information created in the process on the SEMPO DB.
+Generate a token and converter on xDAI and store private and public keys
+
+Mint the standard amount of tokens. (40,000)
+Convert the users tokens into nDAI and put them into the converter. (min 10,000)
+The new token should have a value of at least 1:1 with nDAI and be at least at 25% reserve
+
+Put the TOKEN_NAME tokens into the User’s wallet (Group wallet) - note that when other users later join (via my account -> join Chama)  the TOKEN_NAME they will receive tokens from this wallet. - there is a contract here. 
+
+The token owner should not be able to transfer more tokens than he has committed to new users.
+
+The token owner should have his community token for auto-convert set to TOKEN_NAME
+
+This account is now considered a GROUP account!? Meaning that only it can cash out 50% a month from it’s own reserve.
+
+If the token has been created send the SMS for the token creation approval. 
+
+Else send error.
+
+
+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)
+
+
+
+## Implementation
+
+### Workflow
+
+### Variables
+
+### Interface
+
+
+## Testing
+<!--
+Please describe what test vectors that are required for this implementation
+-->
+
+## Changelog
+<!--
+Please remember to describe every change to this document in the changelog using 
+serial number:
+
+* version 1:
+-->