xDAI Stablecoin

This is inspired by MakerDAO Dai Stablecoin System. A Stablecoin backed by XDC and utilizes the potential of the XDC Network.

DAI crypto is crypto-collateralized because it’s backed by XDC. The ratio in which DAI converts to XDC varies, though it’s usually hovering around 1.5 XDC to 1 DAI.

Allow users interact with the system to

• Open Vaults (formerly CDPs collateralized debt positions)
• Borrow DAI by locking XDC as collateral
• Payback DAI and unlock collateral

Screenshot

Blockscan contract addresses

Open vaults and borrow DAI

Payback DAI

Prerequisite

• Ubuntu 20.04
• nixos
• dapptools
• mcd

Installation

• install python

  sudo apt install python3-pip
  

• install nixos

  curl -L https://nixos.org/nix/install | sh
  . "$HOME/.nix-profile/etc/profile.d/nix.sh"
  

• install dapp tool

  curl https://dapp.tools/install | sh
  

• install mcd

  sudo curl https://raw.githubusercontent.com/makerdao/mcd-cli/master/install.sh | sh
  

Deployment

• Import deployer account

rm ~/keys/deployer/*
export ETH_KEYSTORE=~/keys/deployer
export ETH_PASSWORD=/dev/null
ethsign import 

1. Deploy WXDC

cd ds-weth
dapp --use solc:0.5.17 build
source ../xdc-scripts/apothem.setup-env.sh
dapp create WXDC

2. Deploy XDC Price Feed

cd dss
export xdcPrice=0.02
export PIP=$(dapp create DSValue)
seth send $PIP 'poke(bytes32)' $(seth --to-uint256 "$(seth --to-wei $xdcPrice ETH)")

3. Deploy dss using dss-deploy-scripts

• Configure WXDC and PIP to apothem.json
• Configure environment variables in ./xdc-scripts/apothem.setup-env.sh
• Deploy dss

  cd dss-deploy-scripts
  export PATH="$PATH:/nix/var/nix/profiles/default/bin"
  nix-shell --pure
  source ../xdc-scripts/apothem.setup-env.sh
  dss-deploy apothem
  

Interacting with Maker Protocol contracts

Setup environment

Configure environment variables in ./xdc-scripts/apothem.setup-env.sh

Example:

export SETH_CHAIN=
export ETH_KEYSTORE=~/keys/deployer
export ETH_PASSWORD=/dev/null
export ETH_FROM=0xB568aa07085319B731369FeAF4a7da29F2C4c341
export ETH_RPC_URL=https://erpc.apothem.network/
export ETH_GAS=40000000

Open vault

cd xdc-scripts
source apothem.setup-env.sh
bash open-vault.sh

Pay back

cd xdc-scripts
source apothem.setup-env.sh
bash pay-back.sh

Deployed Contracts

All contracts are deployed to Apothem testnet and XDC mainnet at deployed-contracts.md

References

• https://github.com/makerdao/awesome-makerdao
• https://github.com/makerdao/dss-deploy-scripts
• https://github.com/makerdao/developerguides

License

MIT License