diff --git a/uasyncio/README.rst b/uasyncio/README.rst
new file mode 100644
index 00000000..ee9012a9
--- /dev/null
+++ b/uasyncio/README.rst
@@ -0,0 +1,37 @@
+uasyncio
+========
+
+uasyncio is MicroPython's asynchronous sheduling library, roughly
+modeled after CPython's asyncio.
+
+uasyncio doesn't use naive always-iterating scheduling algorithm,
+but performs a real time-based scheduling, which allows it (and
+thus the whole system) to sleep when there is nothing to do (actual
+implementation of that depends on I/O scheduling algorithm which
+actually performs the wait operation).
+
+Major conceptual differences to asyncio:
+
+* Avoids defining a notion of Future, and especially wrapping coroutines
+  in Futures, like CPython asyncio does. uasyncio works directly with
+  coroutines (and callbacks).
+* uasyncio uses wrap-around millisecond timebase (as native to all
+  MicroPython ports.)
+* Instead of single large package, number of subpackages are provided
+  (each installable separately).
+
+Specific differences:
+
+* For millisecond scheduling, ``loop.call_later_ms()`` and
+  ``uasyncio.sleep_ms()`` are provided.
+* As there's no monotonic time, ``loop.call_at()`` is not provided.
+  Instead, there's ``loop.call_at_()`` which is considered an internal
+  function and has slightly different signature.
+* ``call_*`` funcions don't return Handle and callbacks scheduled by
+  them aren't cancellable. If they need to be cancellable, they should
+  accept an object as an argument, and a "cancel" flag should be set
+  in the object, for a callback to test.
+* ``Future`` object is not available.
+* ``ensure_future()`` and ``Task()`` perform just scheduling operations
+  and return a native coroutine, not Future/Task objects.
+* Some other functions are not (yet) implemented.
diff --git a/uasyncio/metadata.txt b/uasyncio/metadata.txt
index 6ffe4291..379a86fa 100644
--- a/uasyncio/metadata.txt
+++ b/uasyncio/metadata.txt
@@ -1,6 +1,7 @@
 srctype = micropython-lib
 type = package
-version = 1.2.2
+version = 1.2.3
 author = Paul Sokolovsky
-long_desc = Lightweight asyncio-like library built around native Python coroutines, not around un-Python devices like callback mess.
+desc = Lightweight asyncio-like library for MicroPython, built around native Python coroutines.
+long_desc = README.rst
 depends = uasyncio.core
diff --git a/uasyncio/setup.py b/uasyncio/setup.py
index 0908f715..a15a3dbe 100644
--- a/uasyncio/setup.py
+++ b/uasyncio/setup.py
@@ -7,9 +7,9 @@ sys.path.append("..")
 import optimize_upip
 
 setup(name='micropython-uasyncio',
-      version='1.2.2',
-      description='uasyncio module for MicroPython',
-      long_description='Lightweight asyncio-like library built around native Python coroutines, not around un-Python devices like callback mess.',
+      version='1.2.3',
+      description='Lightweight asyncio-like library for MicroPython, built around native Python coroutines.',
+      long_description=open('README.rst').read(),
       url='https://github.com/micropython/micropython-lib',
       author='Paul Sokolovsky',
       author_email='micro-python@googlegroups.com',