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This project is meant to be a stablecoin where users can deposit WETH and WBTC in exchange for a token that will be pegged to the USD.

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deepakkashyap3013/defi-stable-coin

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Defi Stable Coin project

This project is meant to be a stablecoin where users can deposit WETH and WBTC in exchange for a token that will be pegged to the USD.

Protocol architecture

  1. Has relative stability: Anchored or Pegged to USD
    1. Chainlink Price Feed
    2. Set a function to exchange wETH & wBTC -> $$$
  2. Stability Mechanism (Minting): Algorithmic(Decentralized)
    1. People can only mint the stablecoin with enough collateral (coded)
  3. Collateral: Exogenous (Crypto)
    1. wETH
    2. wBTC

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This project is meant to be a stablecoin where users can deposit WETH and WBTC in exchange for a token that will be pegged to the USD.

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