jpegmoney
jpegmoney is a CDP stablecoin protocol that uses NFTX tokens as collateral
Project Description
jpegmoney is a CDP protocol that allows users to borrow USD denominated debt against NFTX token collateral. Users obtain NFTX tokens by depositing NFTs into their pools in exchange for liquid ERC-20 tokens. This allows us to obtain the collateral price in USD so that users can take on overcollateralized loans similar to Maker DAO, MIM, or Liquity Protocol.
How it's Made
jpegmoney uses Uniswap libraries for the TWAP oracle, Chainlink price feeds for ETHUSD price, and WalletConnect as a provider for connecting to the dapp. Hardhat was used as the development environment, contracts are deployed to the Rinkeby testnet. The dapp is a simple React app and uses web3.js and web3modal as the main libraries.
