This repo contains 2 contracts:
- SimpleYieldToken: An erc20-based contract that allows for yield via a simple rebasing mechanism. Contract keeps track of "capital" that has entered the system, but also outputs balances that are yield-adjusted via the yieldFactor variable.
- YieldCalculatorOracle: a contract that is an optional helper for the SimpleYieldToken. It helps calculate its yieldFactor according to an APR defined in basis points.
Deciding to use the YieldCalculatorOracle is a tradeoff between automatization and cost for users. The admin of these contracts may choose to update the yield factor manually using an offchain server, making transactions cheaper for users. Or they may enable the use of the YieldCalculatorOracle, which offsets the cost to users, but makes the system automated and more decentralized.
This system was made with the following requirements:
- Admin can mint new tokens to users at any moment in time.
- Users of the token can hold, transfer, and burn tokens while continuously accruing interest on their existing balances.
- Rate (APY) is initially set by an admin of the token and is defined in BPS.
- Admin is able to change the interest rate at any moment in time.
- Tokens must not be locked in any other contract, which means that these requirements cannot be achieved using aToken, cToken, or erc4626 interest earning vaults.
To intall, run npm i .
- To test contracts, run
npm run test - To build contracts, run
npm run build - To produce a gas usage report, use
npm run gasReport - To produce a coverage report, use
npm run coverage - To product a lint report, use
npm run lint