books/tfgrid4/SUMMARY.md

@@ -8,10 +8,10 @@
   - [TF Nodes](farming_v4/tf_nodes.md)
   - [TF Routers](farming_v4/tf_routers.md)
   - [Network Map](farming_v4/networkmap.md)
-- [Grid Economy](economy/economy.md)
+- [Grid Economy](inca_fuel/economy.md)
-  - [INCA](economy/inca.md)
+  - [INCA](inca_fuel/inca.md)
-  - [INCA Reserve](economy/incareserve.md)
+  - [INCA Reserve](inca_fuel/incareserve.md)
-  - [TFT](economy/tft.md)
+  - [TFT](inca_fuel/tft.md)
   - [Mutual Credit](p2p/mutualcredit.md)
   - [Proof of Authenticity](p2p/poa.md)
 - [Partners Utilization](partners_utilization/partners.md)

collections/inca_fuel/economy.md

@@ -0,0 +1,2 @@
+# Economy
+

collections/inca_fuel/img/.done

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+mutual_credit.png
+chi.png
+chi2.png
+chireserve.png
+incaprojects.png

collections/inca_fuel/inca.md

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+
+<!-- ![](img/chi.png) -->
+![](img/chi2.png)
+
+# INCA Fuel a stable asset backed currency
+
+INCA is ThreeFold's native, asset-backed[Mutual Credit](p2p:mutualcredit) currency. It enables individuals to earn income by serving as cloud providers, while allowing others to pay for the cloud services received.
+
+> We are greatly inspired by Holochain and their Mutual Credit Currency called HOLOFUEL and have decided to model our utility currency similarly. For more information on how HoloFuel functions, you can visit Holo's FAQ on HOLOFUEL. We extend our gratitude to Holochain for their pioneering work and the example they've set. This article is a modified version of their article.
+
+## How does it work
+
+INCA is a contractual service obligation, redeemable for a service as deliverd on [TFGrid](def:tfgrid.md). 
+
+INCA Fuel is a mutual-credit accounting system capable of performing billions of daily microtransactions. Its primary use is for a [Cloud Developer](def:cloud_dev.md) to pay a [Cloud Provider](def:cloud_provider.md) for their services.
+
+INCA Fuel is not really a digital currency, it can be used as such but practically its a mutual credit, a promise to something in the futurel, that promise is recorded in each INCA Promise. The INCA Note's (the mutal credit) can be transfered to someone else but the properties stay the same.
+
+## INCA Fuel benefits:
+
+- A completely peer-to-peer crypto currency.
+- Optimized for high speed and minimal fees.
+- Currency you earn for hosting cloud services on Holo, and redeem to pay your bills.
+
+Completely accountable and transparent crypto-accounting, operating by known and shared rules running on every host machine.
+
+## Practical 
+
+- for the first 6 months 'INCA' is valued at 0.15 USD which corresponds to fully diluted marketcap of 150m
+- if you need INCA you can become a [Cloud Provider](def:cloud_provider.md) or you buy INCA using any of the supported currencies (see [inca reserve doc](reserve.md)).
+
+
+## How is INCA different?
+
+- **Mutual Credit:** Unlike other cryptocurrencies which are primarily used for speculation, INCA is not tokens created from nothing. It is a double-entry crypto-accounting framework in which units are created, transferred, or destroyed at transaction time.
+- **Asset-Backed:** INCA is backed by the computing,storage, network power of hosts like you across the globe. That means it can be redeemed for a product with real utility.
+- **Value-Stable:** The value of INCA is connected to provided services of the tfgrid. This capacity evolves and changes slowly and isn't subject to huge spikes and crashes the way other speculative tokens are.
+- **Scalable:** INCA is designed for micro-transactions, which means it needs to support millions of global value exchanges per second at fractional values. This is possible thanks to our massively parallel design.
+
+## How can I use INCA?
+
+- Spend it through a variety of apps and online marketplaces.
+- Redeem INCA earned by providing cloud services for other currencies to pay your bills.
+- Borrow it, based on your proven hosting track record, to pay for things.
+
+## Details
+
+INCA marks the beginning of a new era of cryptocurrencies backed by the capacity provided by people. All of the currency supply is correlated to providing cloud services. Unlike other systems you don't have to be a technical specialist to be able to become a cloud provider.
+
+Most cryptocurrencies are modeled as digital objects tracked on a global ledger. With INCA, each user has their own ledger showing their account balance and transaction history. Each transaction requires an agreement between two people, which is then recorded on their respective ledgers and validated by peers in the network.
+
+Mutual credit means that every credit (positive) has an equally matching debit (negative), giving a net supply of zero and a dynamic circulating supply that’s responsive to the actual market behavior of its users.
+
+Credit limits are directly connected to a demonstrated capacity to repay a negative balance by providing hosting resources. INCA is directly redeemable for cloud services. INCA is therefore backed by cloud services, a valuable modern asset.
+
+Being asset-backed and having a dynamic supply means that INCA can be value-stable without being static or requiring a peg (first 6 months we link to USD). INCA can optimize the market value of its units in relation to the cost of hosting, creating a steady and stable trajectory.
+
+The agent-centric design allows for the transactions per second (TPS) to increase the more people use it, mirroring how the English language’s “words per second” increases as more people speak it. Therefore, INCA is scalable for mass adoption.
+
+There is no mining or staking involved in earning CHI—only the useful work of cloud services. Anyone can become a cloud provider (a host) and be compensated by application providers who want their hApp served to the web.
+
+## More Information
+
+- [a very good arcticle how mutual credit system works and where it came from](https://blog.holochain.org/mutual-credit-part-1-a-new-type-of-cryptocurrency-as-old-as-civilisation/)
+
+
+
+
+!!wiki.def alias:'inca'

collections/inca_fuel/incaprojects.md

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+![](img/incaprojects.png)
+
+# INCA Projects
+
+These are projects as endorsed by the TF Cooperative and have INCA as reward mechanism.
+
+The resulting INCA can be redrawn 10% per month out of the reserve.
+
+- [sikana](actions:sikana.md)
+- [mkondo](actions:mkondo.md)
+- [partners](actions:partners.md)
+

collections/inca_fuel/incareserve.md

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+
+![](img/chireserve.png)
+
+# INCA Reserve
+
+Reserves are accounts that can sell INCA against a credit limit as long as certain conditions are met: the total amount of INCA must be below a system-wide cap based on platform capacity metrics. Each reserve works with a paired currency and there must be demand for that currency from hosts. 
+
+​Anyone can buy INCA at a reserve account, but only INCA earned through being a [Cloud Provider](def:cloud_provider.md) or realizing [INCA Projects](incaprojects.md) can be redeemed there. This creates a circular flow where new INCA bought from a reserve enters the general circulating supply until it is spent on hosting. At that point a host could either sell it on an exchange or redeem it, depending on pricing.
+
+Reserves will be created by [ThreeFold COOP](def:tfcoop.md) for practical reasons. Reserves need liquidity to function well, so we will ensure that critical mass is achieved before each additional reserve is created. There will be a regulatory complexity involved that must be managed, and reserves obviously have systemic impact by design, so we need to be careful with the roll out.
+
+### Practical **1 INCA = 0.15 USD**
+
+- INCA can be bought using TFT on the INCA Reserve
+  - the price of 1 INCA = 1 TFT (if price of TFT goes above 0.15 this will be adjusted)
+- TFT is priced starting at 0.15 USD per TFT (means min marketcap of 150m USD)
+- INCA can also be bought with one of following currencies
+  - HOLOCHAIN currency HOLO
+  - HIVEMAPPER currency HONEY
+  - HELIUM currency HNT
+  - USDC 
+  - EARTHWALLET
+
+### Initial Provisioning
+
+- Intial INCA Reserve Mix
+  - max 1 billion INCA as result of TFT coming into the TFT reserve (max amount of TFT in world)
+  - max 0.5 billion INCA as result of HOLO, HONEY, HNT, USDC coming in the MIX reserve
+- After this a Reserve can only grow id there is demand from hosters for a specific currency, e.g. a hoster wants to provide cloud service and needs to define which currencies they wants to receive (can be more than 1)
+
+### Lending to INCA Hosters & INCA Projects
+
+Participants in our ecosystem can receive loans upto a certain amount for INCA, they they need to earn INCA back which can be by providing services which can be paid back by customers or the ThreeFold COOP treasury.
+
+- upto 20m INCA for INCA Projects
+- upto 100m INCA as credit line towards Cloud Providers (hosters)
+
+The projects can be seen in [projects](incaprojects.md)
+
+
+### Reserve as Treasury
+
+- all money coming in the reserve wallets (multisigned) make up the treasure, the sender gets INCA in return
+- any digital currency can always be re-drawn out of treasury after 1 year lockup
+  - e.g. someone coming in with HOLO can exchange CHI back to HOLO at same conditions but min 1 year later if there is still HOLO left in the HOLO reserve
+- 
+
+### How can people go from INCA back to one of the participating currencies
+
+- the money in 
+
+
+
+
+### More Info
+
+> we are learning from [https://medium.com/h-o-l-o/holo-fuel-economics(https://medium.com/h-o-l-o/holo-fuel-economics-101-c9631d63014a) and many of their concepts will be implemented in our reserve.

collections/inca_fuel/validators.md

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+# Validators
+
+Validators & staking is happening in TFGrid 4.0.
+
+- 9 guardians are needed
+- they run a full TF Validator Stack (technically)
+- anyone can stake TFT on that stack
+
+reward
+
+- X percent of revenue over TFGrid in TFT or INCA
+- a validator gets a monthly income to support his/her work as well in e.g. INCA or TFT
+