Skip to content

README.md

Latest commit

 

History

History
129 lines (92 loc) · 3.71 KB

README.md

File metadata and controls

129 lines (92 loc) · 3.71 KB

🪙 Solana Programmable Money (Stablecoin Lending Protocol)

This project implements a collateralized stablecoin protocol on Solana, inspired by MakerDAO and other DeFi lending models.
Users can deposit SOL as collateral and mint a protocol-native stablecoin, with on-chain health factor and liquidation logic.

📌 Features

  • ✅ Deposit SOL as collateral
  • ✅ Mint stablecoins against collateral
  • ✅ Redeem collateral by burning stablecoins
  • ✅ Liquidate undercollateralized positions
  • ✅ On-chain health factor enforcement
  • ✅ Configurable risk parameters (liquidation threshold, bonus, etc.)
  • ✅ Mocked price feed using Pyth PriceUpdateV2
  • ✅ Full PDA-driven state management
  • ✅ Built with Rust + Anchor Framework

🏛️ Program Architecture

📂 Key Accounts:

Account Purpose
Config Stores global risk parameters & mint PDA
Collateral Per-user collateral state (SOL balance, debt)
SOL Account (PDA) PDA holding user’s deposited SOL (collateral)
Mint Account PDA minting the protocol stablecoin
Token Account User’s ATA for receiving stablecoins

🧱 Instructions Implemented:

Instruction Purpose
initialize_config Set up protocol config & mint
update_config Authority can update risk params
deposit_collateral_and_mint_tokens Deposit SOL + Mint stablecoins
redeem_collateral_and_burn_tokens Burn stablecoins + Redeem SOL
liquidate Liquidate unhealthy positions

🧪 Testing (In Progress / Optional)

  • ✅ Local testing with mocked Pyth oracles
  • ✅ Health factor & liquidation edge cases
  • ✅ Token balances & mint authority checks

You can run:

anchor test --skip-build

(Make sure LiteSVM or local validator is set up)

⚙️ Tech Stack

  • Rust
  • Anchor
  • Solana Program Library (SPL Token2022)
  • Pyth Oracles (Mocked for testing)
  • Anchor LiteSVM (for fast in-memory testing)

🚨 Disclaimer

This is a learning-focused project built for educational purposes only. It is NOT audited, NOT production-ready, and has incomplete safety checks. Do NOT deploy this on Solana Mainnet.

📂 Project Structure

programs/
└── stablecoin/
    └── src/
        ├── instructions/
        │   ├── admin/
        │   │   ├── initialize_config.rs
        │   │   ├── update_config.rs
        │   │   └── mod.rs
        │   ├── deposit/
        │   │   ├── deposit_collateral_and_mint_tokens.rs
        │   │   ├── utils.rs
        │   │   └── mod.rs
        │   ├── withdraw/
        │   │   ├── redeem_collateral_and_burn_tokens.rs
        │   │   ├── liquidate.rs
        │   │   ├── utils.rs
        │   │   └── mod.rs
        │   └── mod.rs
        ├── state.rs
        ├── constants.rs
        ├── error.rs
        ├── lib.rs
        └── mod.rs

✅ Next Steps (Learning Roadmap)

  • Improve interest rate & debt modeling
  • Add real Pyth testnet feeds
  • Build a frontend (Next.js / React) for UI
  • Explore permissionless minting models

📝 License

MIT License (For educational use only)