PrestaInk Protocol

Try Out

The app is live and ready for interaction. You can test it at the following address: https://prestaink.vercel.app/

Description

The PrestaInk Protocol is a decentralized stablecoin system designed to maintain a 1:1 peg with the USD. This protocol is built exclusively for the INK blockchain and uses wETH as the sole collateral. Its design ensures the system remains over-collateralized, guaranteeing that the collateral value always exceeds the issued stablecoins.

The main contract, DSCEngine, allows users to interact with the system through functionalities such as:

• Collateral deposit and withdrawal.
• Stablecoin (PRINK) minting and burning.
• Liquidation of under-collateralized positions.

Key Features

• No DAO or fees: Unlike protocols like DAI, the PrestaInk Protocol does not rely on a decentralized organization or impose fees.
• Exclusive collateral: Only wETH is accepted as collateral.
• Stability: Designed to ensure a health factor above 1, preventing under-collateralized positions.
• Incentivized liquidations: Provides a 0.1 (10%) bonus to users who liquidate others' positions.

Functionalities

Deposit and Minting

Users can deposit wETH as collateral and mint PRINK, the system's stablecoin. Minting is restricted to ensure the system maintains a high level of collateralization.

Withdrawal and Burning

Users can withdraw collateral and burn PRINK as long as the required health factor is maintained.

Liquidations

The protocol allows users to liquidate under-collateralized positions, ensuring the system's stability.

Installation

BackEnd

1. Clone this repository:

   https://github.com/AGMASO/prestaINK.git

2. Set the .env file with your credentials:

   RPC_URL_INK_SEPOLIA=
   BLOCKSCOUT_API_KEY=
   PRIVATE_KEY=
   DEPLOYER_ADDRESS=
   CERTORAKEY=

3. Configure the HelperConfig.sol file with your credentials:

   function getSepoliaConfig() public view returns (NetworkConfig memory) {
       NetworkConfig memory sepoliaNetworkConfig = NetworkConfig({
           proxyApi3: 'your api',
           wEth: 0x4200000000000000000000000000000000000006, //INK Sepolia and Mainnet
           deployerKey: vm.envUint("PRIVATE_KEY")
       });
       return sepoliaNetworkConfig;
   }

4. Install the required dependencies:

   forge install

Usage

1. Deploy the contract on the INK blockchain.
   • Use the script make deploy ARGS="--network INKsepolia" to deploy all contracts to the INK Sepolia Blockchain.

Contributions

Contributions are welcome. Please open a pull request or report issues in the issues section.

License

This project is licensed under the MIT License.

FrontEnd

Getting Started

1. npm install to install all the packages of the package.json

2. Add a .env with your data:

   ALCHEMY_ID= RPC_URL_INK_SEPOLIA=

3. run the development server:

npm run dev

Open http://localhost:3000 with your browser to see the result.