Rebase Token (RBT)

Overview

Rebase Token (RBT) is an ERC-20 token with a dynamic balance mechanism based on interest accumulation. The token utilizes a rebase mechanism to adjust user balances over time, making it suitable for interest-bearing assets and inflationary/deflationary models.

Features

• Interest Accumulation: Users' balances grow over time based on a set interest rate.
• Minting and Burning: Controlled via role-based access.
• Role-Based Access Control (RBAC): Uses OpenZeppelin's AccessControl to restrict minting and burning privileges.
• Transfer with Interest Adjustment: Ensures correct balance updates before transfers.
• Rebase Mechanism: Balances update dynamically without requiring user interaction.

Smart Contract Details

Contract Name: RebaseToken.sol

Dependencies

• OpenZeppelin Contracts
  • ERC20.sol
  • Ownable.sol
  • AccessControl.sol

Constructor

constructor() ERC20("Rebase Token", "RBT") Ownable(msg.sender) {}

Initializes the token with:

• Name: Rebase Token
• Symbol: RBT
• Owner: The deployer

Interest Rate Management

• setInterestRate(uint256 _newInterestRate): Allows the owner to set a new interest rate (can only decrease).
• getInterestRate(): Returns the current interest rate.
• getUserInterestRate(address _user): Retrieves the interest rate applicable to a specific user.

Minting & Burning

• grantMintAndBurnRole(address _account): Grants the MINT_AND_BURN_ROLE to an address.
• mint(address _to, uint256 _value, uint256 _userInterestRate): Mints tokens while updating interest.
• burn(address _from, uint256 _amount): Burns tokens while ensuring interest is accounted for.

Transfers

• transfer(address _recipient, uint256 _amount): Transfers tokens while adjusting balances for interest.
• transferFrom(address _sender, address _recipient, uint256 _amount): Transfers on behalf of another address while handling interest.

Rebase Calculation

• balanceOf(address _user): Returns the dynamically updated balance with interest.
• principalBalance(address _user): Returns the user's original balance without rebase effects.
• _mintAccurateInterest(address _user): Updates a user’s balance to account for interest before transactions.

Deployment

1. Install dependencies:

   npm install @openzeppelin/contracts

2. Compile the contract:

   forge build

3. Deploy using Foundry or Hardhat.

Usage

• The contract is managed by an owner who can set the interest rate.
• Only addresses with MINT_AND_BURN_ROLE can mint and burn tokens.
• Balances increase over time based on the interest rate.

Security Considerations

• Access Control: Only authorized addresses can mint/burn tokens.
• Interest Updates: Users' balances are updated dynamically without additional interactions.
• Precision Handling: Uses PRESSION_FACTOR = 1e18 to prevent rounding errors.

Author

Developed by [pketh]