1.3 KiB
1.3 KiB
Title
- Authors: William RUddickFirstname Lastname will@grassecon.org
- Date: 2020.04.22
- Version: 1
- Status: Pre-draft
Rationale
We want to give donors a way to contribute to Community Inclusion Currencies as well as anyone with National Currency. By connecting to a reserve that is stable to the US dollar we bring some stability and the ability for many to support local communities.
Before
Currently we are using a virtual reserve a generic ERC20 token. We have 2 Million of those tokens as research against 8 MIllion Sarafu issued (the current Kenyan CIC)
After
We have 40,000 xDAI to put as teh reserve and are looking at minting 16Million tokens with a connector weight (target Reserve Ratio) of 0.25 (25%) and an inital price of roughly 0.01 Sarafu to a xDAI (USD stable)