Code Monkey home page Code Monkey logo

foundry-defi-stablecoin's Introduction

Decentralized Stable Coin System

Overview

Decentralized stablecoin system designed with minimalism in mind, aiming to maintain a 1:1 peg with the US Dollar. Key features include exogenous collateral, a dollar peg, and algorithmic stability. It draws inspiration from DAI but no governance, no fees structure implemented, and backing by WETH and WBTC.

Key Properties

  • Exogenous Collateral: DSCEngine employs exogenous collateral.
  • Dollar Pegged: The system maintains a 1 token to $1 peg.
  • Algorithmically Stable: Self-regulating system that adapts to market conditions,

Comparison to DAI

This implementation shares similarities with DAI but key differences are:

  • No Governance: Unlike DAI, DSCEngine operates without a governance structure.
  • No Fees: DSCEngine doesn't implement any fee structure mechanics.
  • Limited Collateral: The stablecoin is backed exclusively by WETH and WBTC.

Overcollateralization

For robustness and risk mitigation, DSCEngine mandates that the system is always overcollateralized. At no point should the total value of collateral be less than the USD value of all DSCEngine tokens.

Core Functionality

The DSCEngine contract serves as the core of the system, encompassing the following functionalities:

  • Mining and Redeeming: Handles the logic for mining and redeeming DSC tokens.
  • Collateral Management: Manages the depositing and withdrawing of collateral, ensuring the system's stability.

Acknowledgments

DSCEngine is loosely based on the MakerDAO DSS (DAI) system. This implementation follows the tutorial taught by Patrick Collins.

foundry-defi-stablecoin's People

Contributors

ksmit323 avatar

Stargazers

Huang Runze avatar

Watchers

 avatar

Forkers

dashbaord202401

Recommend Projects

  • React photo React

    A declarative, efficient, and flexible JavaScript library for building user interfaces.

  • Vue.js photo Vue.js

    ๐Ÿ–– Vue.js is a progressive, incrementally-adoptable JavaScript framework for building UI on the web.

  • Typescript photo Typescript

    TypeScript is a superset of JavaScript that compiles to clean JavaScript output.

  • TensorFlow photo TensorFlow

    An Open Source Machine Learning Framework for Everyone

  • Django photo Django

    The Web framework for perfectionists with deadlines.

  • D3 photo D3

    Bring data to life with SVG, Canvas and HTML. ๐Ÿ“Š๐Ÿ“ˆ๐ŸŽ‰

Recommend Topics

  • javascript

    JavaScript (JS) is a lightweight interpreted programming language with first-class functions.

  • web

    Some thing interesting about web. New door for the world.

  • server

    A server is a program made to process requests and deliver data to clients.

  • Machine learning

    Machine learning is a way of modeling and interpreting data that allows a piece of software to respond intelligently.

  • Game

    Some thing interesting about game, make everyone happy.

Recommend Org

  • Facebook photo Facebook

    We are working to build community through open source technology. NB: members must have two-factor auth.

  • Microsoft photo Microsoft

    Open source projects and samples from Microsoft.

  • Google photo Google

    Google โค๏ธ Open Source for everyone.

  • D3 photo D3

    Data-Driven Documents codes.