Algo Cash specifically uses an algorithmic approach to manage the supply of tokens according to a predetermined logic. The algorithm is in charge of balancing stablecoin supply to fluctuating demand, ensuring that the token price remains relatively stable.
In this project, the 3 most important contracts are asset, treasure and boradroom.
From asset contract, we can instantiate 3 tokens which would be used in the project, ALC, ALB and ALS.
The Treasury contract handles bond（ALC） purchases and redemptions
The Algo Cash Treasury exists to enable bond-to-cash redemptions. Bonds redeemed via the Treasury automatically returns the user an equal number of ALC, provided that: 1) the oracle price of ALC is above 1 USD (could be set to any price of any asset), and 2) the Treasury contract has a positive balance of ALC.
Disallowing redemptions when the ALC price is below 1 USD prevents bond holders from prematurely cutting their losses and creating unnecessary downward pressure on the price of ALC.
The Boardroom contract handles dividend claims from Share holders
The Boardroom allows ALS holders to claim excess ALC minted by the protocol. Holders of ALS can stake their Shares to the Boardroom contract, which by doing so, they can claim a pro-rata share of ALC assigned to the Boardroom.
In Polkadotjs-ui, we use uplaod & deploy to deploy the asset, oracle and treasure contacts. With asset contract, we can create Cash (ALC) and Bond (ALB) token instance. In treasure contract, we set ALC, ALB, oracle and decimal (10000000000) as paras.
Ubuntu/Debian:
sudo apt update
sudo apt install -y git clang curl libssl-dev llvm libudev-dev
macOS:
/bin/bash -c "$(curl -fsSL https://raw.githubusercontent.com/Homebrew/install/master/install.sh)"
brew update
brew install openssl
curl https://getsubstrate.io -sSf | bash -s -- --fast
curl https://sh.rustup.rs -sSf | sh
source ~/.cargo/env
rustup default stable
rustup update
rustup update nightly
rustup target add wasm32-unknown-unknown --toolchain nightly
rustup component add rust-src --toolchain nightly
rustup target add wasm32-unknown-unknown --toolchain nightly
Ubuntu/Debian:
sudo apt install binaryen
macOS:
brew install binaryen
cargo install --force cargo-contract
1: git clone https://github.com/ReserveLabs/AlgoCash.git
2: cd AlgoCash
2: npm install
3: npx redspot compile
1: npx redspot run scripts/deploy.ts
1: npx redspot test tests/distributor.test.ts
2: npx redspot test tests/boardroom.test.ts
3: npx redspot test tests/treasury.test.ts
wget dl.veim.cn/download/algocash/europa-algocash.tar.gz
gunzip europa-algocash.tar.gz
docker load -i europa-algocash.tar
$ docker images
| REPOSITORY | TAG | IMAGE ID | CREATED | SIZE |
|---|---|---|---|---|
| europa-algocash | 1.0.0 | bc54f6339fb1 | 14 hours ago | 4.39GB |
docker run -d --name europa-node europa-algocash:1.0.0 europa -d database
docker exec -it europa-node bash
cd github/AlgoCash/
test cases:
1: npx redspot test tests/distributor.test.ts
2: npx redspot test tests/boardroom.test.ts
3: npx redspot test tests/treasury.test.ts