Infrastructure Tool: Branded dollar creation #38
Description
Description/Problem
People want to buy collectibles but may decide otherwise if they have to pay with the volatile FLOW token. Stablecoins solve this problem but you have to sell FLOW to get stablecoins. $oneFLOW works better than stablecoins by enabling a dollar equivalent balance backed by $FLOW tokens.
ICHI, a Flow partner, will launch Stable Flow ($oneFLOW), a token valued at $1. Stable Flow is minted in part with FLOW tokens and redeemable for fiat-backed stablecoins.
Developers will be able to easily build $oneFLOW into their apps for DeFi, peer-to-peer payments, charging for services, or enabling consumers to earn rewards for the value they create. In addition, $oneFLOW will be able to fund affiliate bonuses to these developers from the yield earned by the assets backing $oneFLOW.
Experienced Required
- Good understanding of Cadence and storage model
- Good understanding of Solidity
- Familiarity with smart contract application architectures
- High-level understanding of Flow's architecture (block production, transaction states, etc.)
Minimum Feature Set (Acceptance Criteria)
- oneToken Factory
- A contract that acts as a oneToken deployment mechanism.
- oneToken Vault
- A contract owned by oneToken Governance that holds assets, mints and burns ERC20 tokens, and controls the process flow during the minting and redemption process, including coordinating modularized components.
- Mint Master
- A Mint Master uses any available information to compute the current minting ratio.
- Strategies
- Trading contracts that invest funds in yield-farming contracts, receive other types of tokens and report balances of each type of token they hold.
- Controller
- A global contract that executes the appointed strategies for a given oneToken Vault at the specified period of time.
Extension (Optional) Feature Set
- ICHI Governance Model
- Global governance controls the oneTokenFactory and manages global parameters. Governance itself is external to the oneToken system.
- oneToken Governance Model
- Governance of specific oneToken instances with user votes weighted by their holdings of the corresponding oneTokens in specific liquidity pools
Milestone Requirements
- Create wireframes an architectural software diagram for Cadence implementation of the minimum feature set.
- Implement an MVP of the oneFLOW token contract including mint master.
- Implement an MVP of the oneToken Factory contract
- Implement strategies for the oneToken Vault
Software Requirements
Maintainability
- The tools or libraries used to construct the solution should be well vetted and well maintained
- Code should be written in a way that can be extended with new functionality and clear enough for open-source developers to contribute to.
Testing
- All core logic should have unit tests.
- Each feature implemented should be tested by an end-to-end (E2E) test.
Other Requirements
Documentation
- The following pieces of documentation needs to be completed alongside the code for a successful submission:
- Installation Guide: How to get this application up and running.
- Usage Guide: A highlight of all the features available and how to use them.
- Contribution Guide: A thorough explanation of the codebase, where features are located, a diagram explaining complex interactions, etc. This is intended to be a primer for new contributors that would like to add or modify features.
Judging Criteria
For all projects, technical & high-level judging criteria apply.
Resources
ICHI Documentation: https://docs.ichi.farm/
ICHI open source code (Solidity implementation): https://github.com/ichifarm