This page is to capture discussions on topics that are in design, or not ready for input to the GF.
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Use Cases - Tokens & Value Exchange
Introduction
This discussion relates to policy and rules as they apply to the Token. Currently in Yoma, the exchanged currency is ZLTO . "Zlto is a rewards system used to facilitate community impact. Impact is verified by peers in the Zlto network and verifications are then securely stored using blockchain technology. The impact can subsequently be purchased by investors, who directly fund the inventory of rewards available to users. The Zlto backend infrastructure draws from several leading blockchain technologies. The primary aim is to create a highly reliable and scalable system for evaluating work and storing verified work assets. The systems essential principles are immutability, low latency, and a high secure transaction rate" (Source: Zlto: Increase and Track Positive Behavior using Secure Blockchain Technology, Michael Gu et al, International Journal for Information Security Research (IJISR), Volume 9, Issue 2, June 2019). Zlto is a closed loop token owned and managed by Yoma partner RLABs
In the future it is envisaged that there will be a Universal Yoma Token which will be the default medium of exchange within Yoma, it will then be possible for many other types of token to be used as appropriate to local Yoma ecosystems. The Yoma Token has yet to be designed and therefore the scope of GFV1 is to define policy as it relates to Zlto.
Roles related to the Token
Roles Specified in Credential Use Case Document
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Supplementary Roles related to Token in addition to the roles specified in ToIP Governance Stack
- Token Issuer
- Token Holder
- Token Recipient
- Token Exchanges
- Treasury
- Financial Regulator
Core Use Case
EPIC 1: Youth are rewarded for completing challenges and can exchange tokens for products of value
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- Opportunity Partner buys Zlto based on conversation between Learning Challenge Setter and RLABs
- Learning Opportunity Partner assigns Zlto value to Challenge in Yoma marketplace
- Ntombi completes Learning task and receives tokens to RLABs Zlto wallet
- Service Provider prices offer in Zlto exchange
- Ntombi exchanges Zlto for offer
- Service Provider gets Zlto
Scope for V1 Universal Token
There is a Universal Yoma Token which would be the default currency for rewards which could be exchanged for Zlto’s
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- How can Ntombi utilise tokens to influence governance e.g. voting?
Future
- Ntombi can earn tokens from completing Impact Challenges as well as Learning Challenges. Complex, e.g. Impact Challenge - educate young women
- Dynamic marketplace with fluctuating prices
- There are multiple tokens which are interchangeable / fungible via a Universal (Yoma) token
- e.g. cross-border payments, cross-border transfers.
- Native token excluded because of lack of Layer 1 Indy Ledger w/token
- Could be on another network, value in associating token value w/tokens
- Open loop - You can off-ramp tokens to fiat
- Different types of tokens e.g. for value exchange vs for governance - consider DAO concept with youth ownership & decentralized governance
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