cic-docs/spec/001_platform_incentives.md

Current Platform Incentives spec

• Authors: Will Ruddick willruddick@gmail.com (grassecon.org)
• Date: 2021.02.23
• Version: 1
• Status: Pre-draft

Rationale

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 (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 filled out their profiles (name, business, location, gender) get 100 Sarafu (Shown as Disbursement in database)
   2. usage reward: Users get weekly Sarafu bonues if they have made any trade that week.(Shown as Disbursement in database (transaction meta-data)) - this is a redistribution of the demurrage amount
2. Incomming Sarafu
   1. holding fee/demurrage: Users get a monthly deduction of 2% of their Sarafu balance - which is added to the user reward pool. (Shown as Reclaimation in database).
   2. minting/creating: 100 Sarafu is minted (supply increase) when new users join and are validated

Implementation

Workflow

Variables

Interface

Testing

Changelog