CryptoIRS

Deposit USDC, mint cUSDC and sell cUSDC forward to get fixed rate deposit

CryptoIRS

Created At

Web3 Weekend

Project Description

This project creates a new interest rate derivative instrument (the cUSDC future) that allows market participants to lock in a fixed deposit rate in Compound. We've built a smart contract that takes a user deposit and mints cUSDC tokens. A separate smart contract (which is we haven't completed) will handle the expiration and p&l settlement.

How it's Made

We downloaded react-app and modified it to serve as the front end web app. We spinned up a hardhat instance that forked mainnet. We used python to write several scripts to interact with existing smart contracts. Using the python script we first went to the uniswap contract to sell the ETH we were given to get USDC.

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