Skip to content

Latest commit

 

History

History
47 lines (30 loc) · 2.53 KB

minimal-documentation.md

File metadata and controls

47 lines (30 loc) · 2.53 KB
Raw

Minimal Documentation

If you're short on time to prepare extensive project documentation before the audit, consider using the following questionnaire to craft a basic project description.

High level description

Business description of the project, one-two sentences. E.g.:

Lending system for governance tokens, where suppliers can earn interest and borrowers can get voting power cheaply.

Token description

For non-utility tokens, please provide additional information:

  • name, symbol, and decimals.
  • totalSupply if predetermined.
  • initial token distribution if it is hardcoded within the contract.
  • extra features (anything beyond ERC20 Standard or Open Zeppelin implementation).

Main actors, actions, flows

List of roles and their main actions. E.g.:

  • Suppliers can deposit and withdraw governance tokens to the pools.
  • Borrowers can "borrow" tokens for fee, extend loan duration, and return their loans.
  • Liquidators can forcibly close loan positions that have consumed their fee. Liquidators receive a small reward for each closed loan.
  • Owner of the system (multisig) can adjust settings and pause the system.

Technical details

Design and architecture choices, clever tricks and hacks, complex logic, etc. E.g.:

  • The contracts are not upgradable, we will have to deploy new versions of the system if we decide to.
  • The token pool is an entry point for all users and holds all tokens that are not utilized right now.
  • Suppliers receive xTokens when they deposit governance tokens (similar to Compound's cTokens).
  • Borrowers don't receive governance tokens, they become delegatee of the borrowed tokens. To achieve it, the pool deploys a minimal proxy (ERC-1167) for each loan, that holds borrowed tokens and interacts with the according governance system. When the loan is closed, the tokens return to the pool.

Deployed contracts

Number of deployed contracts, connections between them. E.g.:

  • We deploy a separate Pool and an xToken for each governance token we support.
  • Each Pool has a LoanLogic contract that knows how to interact with specific governance system. Every LoanProxy deployed by the Pool has LoanLogic contract as its target for delegatecall.
  • Additionally, we have a FeeLogic contract that is common for all Pools. It is used to determine the rate at which the fee provided by the borrower is consumed and therefore the loan "expires" and can be liquidated.