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Update Greenstand-Token.md #146

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21 changes: 9 additions & 12 deletions Greenstand-Token.md
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Expand Up @@ -2,14 +2,10 @@
# Greenstand Token

## **A Framework for Non-fungible Tokens linked to Environmental Assets**
Note: Readers may comment on and suggest modifications to this document via the Pull Request process, [Google Doc](https://docs.google.com/document/d/1R94Jp6QoHnxW8TbjeJgwH96EOXGVUgrRnEQ7Wxiu8yo/edit?usp=sharing), or email [email protected]

Version: 0.0, Aug, 2022

### NOTE:

THIS MODEL IS A GOAL AND MAY NOT ACCURATELY REPRESENT THE _CURRENT_ WORKINGS OF THE REGISTERED NON-PROFIT ORGANIZATION GREENSTAND.

DOMAIN MODEL TERMINLOGY IN THIS PAPER MAY CONFLICT WITH CURRENTLY IMPLEMENTED STRUCTURES IN THE GREENSTAND GITHUB REPOSITORIES.
Version: 0.1, Aug, 2022

Readers may comment on and suggest modifications to this document via the Pull Request process, [Google Doc](https://docs.google.com/document/d/1R94Jp6QoHnxW8TbjeJgwH96EOXGVUgrRnEQ7Wxiu8yo/edit?usp=sharing), or email [email protected]

Expand Down Expand Up @@ -434,9 +430,9 @@ Sealing nodes are compensated using minting and transfer fees based on the value

A TRing is the native currency of the Greenstand network and is created by depositing Greenstand tokens.

The Greenstand Token resides on the network as an ERC721 token. Any Greenstand Token may be converted into TRings as an ERC20. The number of TRrings created from this conversion is calculated using the Greenstand network’s master RVI.
The Greenstand Token resides on the network as an ERC721 token. Any Greenstand Token may be converted into TRings. The number of TRrings created from this conversion is calculated using the Greenstand network’s master RVI.
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The Greenstand Token resides on the network as an ERC721 token. Any Greenstand Token may be converted into TRings. The number of TRrings created from this conversion is calculated using the Greenstand network’s master RVI.
The Greenstand Token resides on the network as an ERC721 token. Any Greenstand Token may be converted into TRings. The number of TRrings created from this conversion is calculated using the Greenstand network’s master RVI. This master RVI will be implemented into the Smart Contract(s) responsible for accepting the ERC721 token in exchange for TRings/Seed. If an organization wishes to create their own Smart Contract that implements a seperate RVI calculatuon, they will be able to deploy seperate contracts with other calculation methodologies. The nature of the ERC721 token will ensure that the authorized nodes will always receive their fair share of each ERC721 transaction, and the Greenstand master RVI will be continuously updated through consensus of authorized nodes to ensure that the master RVI is always the standard.


The TRing is divisible by 100 units called Grain.
The TRing is divisible by 100 units called Seed.
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https://academy.binance.com/en/glossary/wei
In my opinion, we should conform to the existing standard to the best of our ability. I will defer to your judgement, however.



### Framework
Expand Down Expand Up @@ -518,9 +514,6 @@ It may happen as a transfer in a peer-to-peer network or as a string of requests

Fungible tokens are identical tokens and mutually exchangeable. In the Greenstand system, RVIs produce fungible tokens from Non-fungible Greenstand Tokens.

**Grain**

A Grain is 100th of a TRing

**Greenstand Token**

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A Root Wallet is a level of wallet permission on a Greenstand node that enables a user to make API calls that trigger the creation of new wallets and transfer requests from their own or managed wallets to any other wallet in the system. Root Wallets may grant wallet trading access to specific wallets for other users, third parties, and customers.

**Seed**

A Seed is 100th of a TRing.

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https://academy.binance.com/en/glossary/wei
In my opinion, we should conform to the existing standard to the best of our ability. I will defer to your judgement, however.

**Smallholder farmer**


Expand Down Expand Up @@ -584,7 +581,7 @@ Globally ‘tree planting’ is currently being counted as a “pledge” or as
**TRing**


TRing is the native currency of the Greenstand network. They are created by depositing Greenstand Tokens. The number of TRings produced per Greenstand Token is calculated using the Master Relative Value Index. A TRing is divisible by 100 to create Grain.
TRing is the native currency of the Greenstand network. They are created by depositing Greenstand Tokens. The number of TRings produced per Greenstand Token is calculated using the Master Relative Value Index. A TRing is divisible by 100 to create Seed.
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https://academy.binance.com/en/glossary/wei
In my opinion, we should conform to the existing standard to the best of our ability. I will defer to your judgement, however.

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Thanks @bstetzer32 This is a good point.
We should certainly stick with the existing standard, although I believe it should be renamed.
Do you have any ideas there? - 10^18 is a big number.


**Wallet**

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