diff --git a/content/vac/sc/g/status/community-contracts-token-import.md b/content/vac/sc/g/status/community-contracts-token-import.md
index 857f694f3..0e411e1cc 100644
--- a/content/vac/sc/g/status/community-contracts-token-import.md
+++ b/content/vac/sc/g/status/community-contracts-token-import.md
@@ -26,31 +26,34 @@ gantt
     Production Readiness:
 ```
 
-- status: 5%
+- status: 0%
 - CC: Andrea
 
+**This milestone is updated on weekly basis. For a more up-to-date status head over to the [milestone on GitHub](https://github.com/status-im/communities-contracts/milestone/1).
+
 ### Description
 
-*Note*: This milestones needs further details, which will be agreed apon with Status in an upcoming meeting.
+This milestone is part of the effort to create "Community Vaults".
+Community Vaults allow Status users to create communities that maintain their own token balances and later on allow for airdropping their tokens to other Status users or retail them.
 
-Preliminary description:
+This milestone focusses on the "token import".
+The naming is a bit misleading, but the basic idea is that users:
 
-Design and implement a contract that offers a  token import functionality to communities.
-It should allow:
-- deploying a token vault for a given token
-- depositing tokens to specific token vaults
-- specific community members (token masters) can alter (e.g. airdrop) tokens in the store
-- tokens in the vault can be air dropped
-
-A token vault is basically a community wallet that a community's token masters can airdrop from.
+- create Status communities and deploy a "vault" contract
+- the vault contract acts as a wallet for the community
+- any user can send ERC20 and ERC721 tokens to the vault
 
 ### Justification
 
 
 ### Deliverables
 
-* design description
-* smart contract
+- `CommunityVault` smart contract implementation
+- Migration/upgrade strategy for vaults
+- Ability for users to deposit/import tokens to vault
+- Tests
+- Documentation
+- Formal verification