3.1 KiB
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 or realizing INCA Projects 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 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
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.