vetherasset / vaderprotocol-contracts

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integrate lending #13

Open strictly-scarce opened 3 years ago

strictly-scarce commented 3 years ago

Implementation

Draw Debt

Members deposit collateral into Vault, which has a reserve.
Member choose to borrow debtAsset from collateral.
SwapValueInBase(collateral) is sensed, corresponding base amount taken from reserve, swapped to debtAsset.
debtAmount is stored.

Pay Back

Member pays back debtAsset into vault, decrement debtAmount.
Swapped to Base, returned to reserve.
collateral can be redeemed

Interest

Every cycle, take interest from all collateral, sync to the corresponding pool
Members have a share of the interestPaid
If collateral - interestPaid <= 1.01 * debtAmount then member can be purged for a fee

Liquidate

If collateral - interestPaid <= 1.01 * debtAmount then member can be liquidated for a fee

strictly-scarce commented 3 years ago

Partially implemented in https://github.com/vetherasset/vaderprotocol-contracts/pull/65