Yamato Protocol

Overview

A stablecoin lending machine.

• You can borrow CJPY with collateralising ETH.
• The CJPY token can be redeemed in ETH with 1 CJPY = 1 JPY rate (The ETH/JPY rate is calcurated by the ChainLink oracle. And the Tellor oracle is serving as a fail-safe oracle.)
• The total collateral ratio (TCR) won't be below 100% and so your CJPY always be kept safe.
• The reason why TCR is always above 100% is that the redemption criteria (= minimal collateral ratio / MCR) is 110% and so the protocol always has enough reserve.
• When a huge ETH price dump happens, the real value of the protocol reserve will be below 100%. And so we set a non-linear fee table to mitigate not to make the TCR near 110%.
• We use YMT token (designate like the great CRV token) allocation to make TCR higher, and gradually it will be decreased because a real lending infrastructure ideally don't need it.
• Any state transition could be back to the normal in the end.
• That's all, really.
• We'll provide various rationale of why it'll work well. Stay tuned ;)

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Spec

• See ./test/unit

Configurations

As of this writing, the following library versions have been confirmed working fine.

• Node: 14.16.1
• npm: 6.14.12
• hardhat: 2.1.1
• smock: 2.x

Please note, using a different version might result in commands like "npm i" and test to fail.

dev: Getting Started

1. Install node & npm.
2. Clone the latest code from yamato repos.
3. Initialize the local work space.
   1. $ cd yamato
   2. $ mkdir typechain
   3. $ npm i
4. Running the compile & test.
   1. $ npx hardhat compile
   2. $ npx jest --projects unit.jest.config.ts

If it's working fine, you should be able to install the dependencies & see the tests run. If not, please check that the npm dependencies are installed as expected referring to the Configurations section.

goerli

Running deployment

• npm run deploy:goerli:reset
• npm run deploy:goerli (with cached contracts / continue from resumed deployment)
  • If etherscan verification is failed, restart that by npm run verify:goerli:all
  • The deploy script is automatically handling the upgrade of latest implementation of UUPS
  • npx hardhat deploy --tags <tag> --network <network> gives your a chance to run a specific deploy script.
• npm run test:integration
  • Run this after deployment succeeded

Running upgrade

• npx hardhat run upgrade/batches/commit79597f-202203280247.ts --network goerli
  • You can read what's going on in the script file.
  • We recommend to comment-in the only-using line of script, and check if the tx suceeded property one-by-one.

For only etherscan verification

npm run verify:goerli:all

The latest goerli contract addresses

See ./deployments/goerli/* files.