Nash Stablecoin

A PoC algorithmic stablecoin created using lisk-sdk.

Description

• The blockchain app contains three types of tokens: Nash, Bond, and Share.

  • Nash: This is the core token of the system, which is expected to be pegged to one US Dollar.
  • Bond: Non-fungible tokens resealed when the price is under the pegg. These are only purchasable by Nash tokens. At prices higher than the pegg, these tokens will automatically be turned into Nash tokens.
  • Share: There is a reserve of ‘LSK’ coins. Any user can invest in the reserve in exchange for Share tokens. A part of Nash tokens generated at prices higher than the pegg are distributed among the shareholders.

• The current PoC implementation supports:

  • Purchasing unsold Bonds
  • Transfer LSK or Nash tokens
  • Trading Share tokens in exchange for Nash tokens
  • Pricing the Nash and test the reaction of the system to price changes

Installing Dependencies

cd blockchain_app && npm i
cd frontend_app && npm i

Starting A Node

cd blockchain_app; node index.js

Starting The Frontend

cd frontend_app; npm start

Remarks

1. In the first step, please initialize the app using genesis passphrase.
2. There are several default accounts that can be used for testing transactions.
3. Please note that there is a 10s latency between transactions in the pricing process.
4. The frontend app is not auto-refreshing. Once a request is submitted, it should be refreshed manually.
5. A block cannot contain multiple transactions from the same sender; make sure the senders are different.