BTC-Stable: Comprehensive Bitcoin-Backed Stablecoin Protocol Implementation#1
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israel-capslock wants to merge 10 commits into
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BTC-Stable: Comprehensive Bitcoin-Backed Stablecoin Protocol Implementation#1israel-capslock wants to merge 10 commits into
israel-capslock wants to merge 10 commits into
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- Define governance token reference for future DAO integration. - Set contract owner as tx-sender. - Add error codes for various protocol conditions. - Establish protocol parameters including price caps, collateral ratios, and stability fees. - Initialize data variables for collateral ratio, liquidation threshold, stability fee, and system states.
- Define vaults, liquidators, and price-oracles data maps. - Implement private functions to validate price, ratio, and fee. - Add public function to initialize the protocol with BTC price.
- Implement `create-vault` function to allow users to create and fund vaults with collateral. - Implement `mint-stablecoin` function to enable users to mint stablecoins based on their collateral. - Include necessary assertions to ensure protocol initialization, emergency shutdown status, and price validity.
- Implement `repay-debt` function to allow users to repay their stablecoin debt. - Implement `withdraw-collateral` function to enable users to withdraw collateral from their vaults. - Include necessary assertions to ensure protocol initialization, emergency shutdown status, price validity, and collateral ratio requirements.
- Implement `liquidate` function to allow authorized liquidators to liquidate under-collateralized vaults. - Implement `update-price` function to enable authorized oracles to update the BTC price. - Implement `set-minimum-collateral-ratio` function to allow the contract owner to update the minimum collateral ratio. - Include necessary assertions to ensure protocol initialization, price validity, and authorization checks.
…d access control - Implement `set-liquidation-ratio` function to allow the contract owner to update the liquidation ratio. - Implement `set-stability-fee` function to allow the contract owner to update the stability fee. - Implement access control functions to add and remove liquidators and oracles. - Include necessary assertions to ensure protocol initialization, parameter validity, and authorization checks.
- Implement `remove-oracle` function to allow the contract owner to remove an oracle. - Implement read-only functions to get vault details, collateral ratio, and check authorization for liquidators and oracles. - Include necessary assertions to ensure authorization checks.
- Implement `get-stability-parameters` function to return the current stability parameters including collateral ratios, stability fee, price, price validity, and emergency shutdown status.
- Document the roles and responsibilities of oracles. - Outline governance mechanisms for adjusting protocol parameters. - Describe emergency procedures including the emergency shutdown mechanism. - Include a section on contributing guidelines for potential contributors.
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Overview
This PR introduces a robust, production-ready implementation of the BTC-Stable protocol, enabling the creation of Bitcoin-collateralized stablecoins with sophisticated risk management and governance mechanisms.
Key Features
Technical Implementation
Core Protocol Infrastructure
Risk Management
Access Control
Security Considerations
Documentation
Testing Considerations
Changes Overview
Next Steps
Checklist
This implementation provides a solid foundation for a secure and scalable Bitcoin-backed stablecoin system.