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A decentralized stablecoin pegged to the USD, backed by wETH and wBTC, with on-chain over-collateralization via the DSCEngine smart contract.

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Decentralized Stablecoin

This project introduces a crypto-collateralized stablecoin, pegged to the USD, similar to $DAI. It is backed by wETH and wBTC, which serve as collateral for minting the stablecoin.

The entire process is executed on-chain, utilizing the DSCEngine smart contract, eliminating the need for a central authority. To acquire the stablecoin, users lock their wETH or wBTC into the DSCEngine and mint the desired amount while maintaining the health of their collateral.

The DSCEngine ensures the stablecoin remains over-collateralized to guard against price volatility in the underlying assets. For example, minting $1,000 of DSC (Decentralized Stablecoin) requires a deposit of $1,500 in wETH or wBTC, maintaining a 150% collateralization ratio.

Currently, the project is approximately 90% fully tested.

File % Lines % Statements % Branches % Funcs
script/DeployDSC.s.sol 100.00% (10/10) 100.00% (14/14) 100.00% (0/0) 100.00% (1/1)
script/HelperConfig.s.sol 70.37% (19/27) 71.43% (25/35) 100.00% (3/3) 57.14% (4/7)
src/DSCEngine.sol 91.14% (72/79) 93.14% (95/102) 45.45% (5/11) 100.00% (26/26)
src/DecentralizedStableCoin.sol 100.00% (12/12) 100.00% (13/13) 100.00% (4/4) 100.00% (3/3)
src/libraries/OracleLib.sol 100.00% (5/5) 85.71% (6/7) 0.00% (0/1) 100.00% (1/1)
src/libraries/PriceConverter.sol 100.00% (10/10) 100.00% (17/17) 100.00% (0/0) 100.00% (4/4)
test/fuzz/Handler.t.sol 90.32% (56/62) 91.03% (71/78) 100.00% (6/6) 85.71% (6/7)
test/mocks/ERC20Mock.sol 50.00% (1/2) 50.00% (1/2) 100.00% (0/0) 66.67% (2/3)
test/mocks/MockV3Aggregator.sol 41.18% (7/17) 41.18% (7/17) 100.00% (0/0) 33.33% (2/6)
Total 85.71% (192/224) 87.37% (249/285) 72.00% (18/25) 84.48% (49/58)

Getting Started

Requirements

  • git
    • You'll know you did it right if you can run git --version and you see a response like git version x.x.x
  • foundry
    • You'll know you did it right if you can run forge --version and you see a response like forge 0.2.0 (816e00b 2023-03-16T00:05:26.396218Z)

Quickstart

git clone https://github.com/Cyfrin/foundry-defi-stablecoin-cu
cd foundry-defi-stablecoin-cu
forge build

Optional Gitpod

If you can't or don't want to run and install locally, you can work with this repo in Gitpod. If you do this, you can skip the clone this repo part.

Open in Gitpod

Usage

Start a local node

make anvil

Deploy

This will default to your local node. You need to have it running in another terminal in order for it to deploy.

make deploy

Deploy - Other Network

See below

Testing

  1. Unit
  2. Integration
  3. Forked
  4. Staging

In this repo we cover #1 and Fuzzing.

forge test

Test Coverage

forge coverage

and for coverage based testing:

forge coverage --report debug

Deployment to a testnet or mainnet

  1. Setup environment variables

You'll want to set your SEPOLIA_RPC_URL and PRIVATE_KEY as environment variables. You can add them to a .env file, similar to what you see in .env.example.

  • PRIVATE_KEY: The private key of your account (like from metamask). NOTE: FOR DEVELOPMENT, PLEASE USE A KEY THAT DOESN'T HAVE ANY REAL FUNDS ASSOCIATED WITH IT.
  • SEPOLIA_RPC_URL: This is url of the sepolia testnet node you're working with. You can get setup with one for free from Alchemy

Optionally, add your ETHERSCAN_API_KEY if you want to verify your contract on Etherscan.

  1. Get testnet ETH

Head over to faucets.chain.link and get some testnet ETH. You should see the ETH show up in your metamask.

  1. Deploy
make deploy ARGS="--network sepolia"

Scripts

Instead of scripts, we can directly use the cast command to interact with the contract.

For example, on Sepolia:

  1. Get some WETH
cast send 0xdd13E55209Fd76AfE204dBda4007C227904f0a81 "deposit()" --value 0.1ether --rpc-url $SEPOLIA_RPC_URL --private-key $PRIVATE_KEY
  1. Approve the WETH
cast send 0xdd13E55209Fd76AfE204dBda4007C227904f0a81 "approve(address,uint256)" 0x091EA0838eBD5b7ddA2F2A641B068d6D59639b98 1000000000000000000 --rpc-url $SEPOLIA_RPC_URL --private-key $PRIVATE_KEY
  1. Deposit and Mint DSC
cast send 0x091EA0838eBD5b7ddA2F2A641B068d6D59639b98 "depositCollateralAndMintDsc(address,uint256,uint256)" 0xdd13E55209Fd76AfE204dBda4007C227904f0a81 100000000000000000 10000000000000000 --rpc-url $SEPOLIA_RPC_URL --private-key $PRIVATE_KEY

Estimate gas

You can estimate how much gas things cost by running:

forge snapshot

And you'll see an output file called .gas-snapshot

Formatting

To run code formatting:

forge fmt

Slither

slither :; slither . --config-file slither.config.json

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A decentralized stablecoin pegged to the USD, backed by wETH and wBTC, with on-chain over-collateralization via the DSCEngine smart contract.

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