This repository contains the core mvp smart contract code for Descent Protocol. This is a high level description of the system, assuming familiarity with the basic economic mechanics as described in the one pager.
Please find the architecture doc here: https://descentcollective.notion.site/Protocol-Architecture-d6d0565808c141108986fcbf03f30048?pvs=4 🚧 (Still in development)
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Token agnostic
- system doesn't care about the implementation of external tokens
- can operate entirely independently of other systems, provided an authority assigns initial collateral to users in the system and provides price data.
- can introduce new stablecoins to the system
- can add any kind of collateral
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Upgradeable & Verifiable
- designed from the bottom up to be upgradeable
- the core vault and balance database makes no external calls and contains no precision loss (i.e. no division)
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Modular
- multi contract core system is made to be very adaptable to changing requirements.
- allows for implementations of e.g. auctions, liquidation, Debpt position risk conditions, to be altered on a live system.
- allows for the addition of novel collateral types (e.g. whitelisting)
Collateral is the foundation of xNGN and xNGN creation is not possible without it. There are many potential candidates for collateral, whether native ether, ERC20 tokens, other fungible token standards like ERC777, non-fungible tokens, or any number of other financial instruments. For now, our focus is on stablecoin collaterals.
In the protocol, we abstract all of these different token behaviours away behind Adapters.
Adapters should be very small and well defined contracts. Adapters are
very powerful and should be carefully vetted by IDEALLY BY $OSN holders. Some
examples are given in adapter.sol. Note that the adapter is the only
connection between a given collateral type and the concrete on-chain
token that it represents.
There can be a multitude of adapters for each collateral type, for different requirements. For example, ETH collateral could have an adapter for native ether and also for WETH.
- git
- nodeJS
- brew
- foundry - You can run
sh ./setup.shto install Foundry and its dependencies. - Hardhat
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Clone the repository
git clone https://github.com/Descent-Collective/protocol-v1.git cd protocol-v1 -
Install packages
yarn -
Build contracts
```
yarn build
```
Create a .env in the root with:
PRIVATE_KEY=PRIVATE_KEY
ALCHEMY_API_KEY=
Then run:
yarn run deploy:ethereum_goerli
yarn run test