Exogenous Collateralized Stablecoin Lending Protocol

A exogenous collateralized stablecoin lending protocol that allows users to deposit collateral and mint synthetic stablecoins (sCoin) against their collateral position.

Overview

This project implements a collateralized debt position (CDP) system where users can:

• Deposit supported collateral tokens (WETH, WBTC)
• Mint synthetic stablecoins (sCoin) against their collateral
• Maintain a minimum health factor to avoid liquidation
• Redeem their collateral by repaying debt
• Participate in liquidations of unhealthy positions

Key Features

Collateral Management

• Multi-collateral support (WETH, WBTC initially)
• Real-time price feeds via Chainlink oracles
• Configurable liquidation thresholds

Risk Management

• Minimum health factor of 1.0 (100%)
• Liquidation threshold at 50% of collateral value
• Liquidation bonus of 10% to incentivize liquidators

Core Functions

• depositAndMint: Deposit collateral and mint sCoin in one transaction
• redeemAndBurn: Repay sCoin and retrieve collateral
• liquidate: Liquidate positions below minimum health factor

Technical Details

Smart Contracts

• Hub.sol: Main contract handling collateral, minting, and liquidations
• SCoin.sol: ERC20 implementation of the synthetic stablecoin

Testing

The system includes comprehensive test coverage:

• Unit tests for all core functions
• Invariant fuzz tests to ensure system-wide properties

Key Invariants

1. Total sCoin supply must never exceed 50% of total collateral value

Testing

forge test