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hyperbitcoinization's Introduction

Hyperbitcoinization

Simple smart contract that configures a 1M USDC vs 1 Wrapped Bitcoin 90-day term bet, inspired by Balaji's tweet.

  1. Anyone can createBet() initializing a bet between two parties
  2. Parties A and B deposit their funds, contract marks second deposit as startTimestamp
  3. Bet is frozen for 90 days from startTimestamp
  4. After 90 days, anyone call call settleBet(), using the Chainlink BTC/USD oracle to settle the bet.

Note: settleBet() can also be called earlier than 90 days, if in favor of partyUSDC (kudos banteg).

Test

Tests use Foundry: Forge.

Install Foundry using the installation steps in the README of the linked repo.

# Get dependencies
forge update

# Run tests
forge test

Potential issues

  1. USDC can de-peg, (1M USDC != $1M USD), kudos @supernovahs
  2. Chainlink oracle price manipulation kudos @0xfps

License

GNU Affero GPL v3.0

hyperbitcoinization's People

Contributors

anish-agnihotri avatar

Stargazers

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Watchers

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Forkers

0xfps mconstant metaver5o 0xgoerlimainnet

hyperbitcoinization's Issues

Audit :USDC price hardcoded to 1 $.

There is a potential risk of USDC depeg . partyUSDC could add 1 million USDC even though they are worth (say $900k).

Recommendation:
Use chainlink price feed to ensure partyUSDC deposits >= $1 million USDC worth of tokens at the time of deposit.

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