The NexusDeFi-Protocol is a decentralized finance (DeFi) ecosystem composed of multiple interconnected smart contracts that function together to enable decentralized financial services. Built on the Stacks blockchain, Nexus leverages Bitcoin's security to offer a range of DeFi services, including staking, governance, lending, and tokenized asset management.
- Nexus Token: A fungible token compliant with the SIP-010 standard, used throughout the protocol for various operations.
- Vault: A smart contract for securely storing tokens with a fee-based system for deposits and withdrawals.
- Lending: Facilitates borrowing of tokens with collateral, including liquidation mechanisms.
- Oracle: Supplies price data for assets, which is vital for the lending system.
- Governance: Allows Nexus token holders to create and vote on proposals to improve the protocol.
- Staking: Users can stake Nexus tokens to earn rewards in a decentralized manner.
To deploy the NexusDeFi-Protocol contracts on the Stacks blockchain, you need to follow the steps below.
- Node.js v14.x or later.
- Clarinet - A tool for developing and testing smart contracts on Stacks.
- A local Stacks blockchain or a testnet/mainnet account.
-
Clone the Repository:
git clone https://github.com/nicholas-source/NexusDeFi-Protocol.git cd NexusDeFi-Protocol -
Install Dependencies:
Install Clarinet if you haven't:
npm install -g @hirosystems/clarinet
-
Compile the Contracts:
Use Clarinet to compile the contracts:
clarinet check
-
Deploy the Contracts:
To deploy the contracts to the testnet or mainnet, configure your deployment settings and use Clarinet to initiate deployment:
clarinet deploy --network testnet
The Nexus Token contract implements a SIP-010 compliant fungible token. It includes minting, transferring, and balance checking functionalities.
-
Key Functions:
transfer(amount, sender, recipient, memo): Transfers tokens between users.mint(amount, recipient): Mints new tokens for a given recipient (only by the contract owner).get-balance(who): Retrieves the balance of a specific user.set-token-uri(new-uri): Allows the contract owner to set a URI for token metadata.
-
Considerations:
- The contract allows minting by the owner but could benefit from a capped supply or a minting schedule.
- Important actions like transfers and mints do not emit events, which would improve tracking and transparency.
The Vault contract enables users to deposit tokens and withdraw them later, with a small fee deducted on deposits.
-
Key Functions:
deposit(token, amount): Allows users to deposit tokens into the vault.withdraw(token, amount): Withdraws tokens, ensuring the user has sufficient balance.get-deposit-balance(user, token): Retrieves a user's deposit balance.get-total-deposits(token): Shows the total amount of tokens deposited in the vault.
-
Considerations:
- Implement events for deposits and withdrawals for better transaction tracing.
- Add functionality for updating the vault fee percentage and emergency withdrawal capabilities.
The Lending contract allows users to borrow tokens by providing collateral. It supports liquidation if the collateral falls below a defined ratio.
-
Key Functions:
borrow(collateral-token, borrow-token, collateral-amount, borrow-amount): Facilitates borrowing by locking collateral.repay(collateral-token, borrow-token, repay-amount): Allows users to repay their loans.liquidate(borrower, collateral-token, borrow-token): Liquidates a borrower's collateral if they are below the liquidation threshold.
-
Considerations:
- Interest accrual is handled through a constant rate but could be improved with dynamic interest rates based on utilization.
- Add events for borrows, repayments, and liquidations to enhance visibility.
- Support for multiple collateral types could improve the flexibility of the lending system.
The Oracle contract sets and retrieves price data for various assets, which the lending contract depends on for determining collateral and liquidation conditions.
-
Key Functions:
set-price(asset, price): Allows the contract owner to set the price of an asset.get-price(asset): Retrieves the price of an asset.
-
Considerations:
- Currently, the oracle is centralized (controlled by the contract owner). A decentralized oracle mechanism would improve trustlessness.
- Add time-based price validity to ensure prices are fresh and accurate.
The Governance contract enables Nexus token holders to create and vote on proposals for protocol changes.
-
Key Functions:
create-proposal(description): Allows users to create a new governance proposal.vote(proposal-id, vote-for): Lets users cast their vote on a proposal.end-proposal(proposal-id): Ends the voting process and decides whether the proposal passes or fails.
-
Considerations:
- Add a quorum requirement for proposal execution.
- Implement time locks for executed proposals to prevent malicious governance actions.
- Events should be added for the creation, voting, and execution of proposals.
The Staking contract allows users to stake Nexus tokens in return for rewards, calculated based on the amount staked and the time spent staking.
-
Key Functions:
stake(token, amount): Users can stake their tokens to start earning rewards.unstake(token, amount): Users can unstake their tokens and stop earning rewards.claim-rewards(token): Claims pending staking rewards for the user.
-
Considerations:
- The reward calculation mechanism could be optimized for better gas efficiency.
- Add cooldown periods for unstaking to discourage short-term staking behavior.
- Reentrancy Protection: The contracts use the
try!pattern to prevent reentrancy attacks, but a full audit is advised to ensure safety against reentrancy across all state-changing functions. - Access Control: Critical functions are limited to the contract owner, but a more robust multi-signature access control mechanism may enhance security.
- Precision Loss: Be cautious of precision loss during arithmetic operations, particularly in the lending and staking contracts.
- Oracle Dependency: As the oracle provides critical price data, ensure its security and consider adding fallback mechanisms for increased reliability.
- Flash Loans: Introduce flash loans to improve capital efficiency in the lending system.
- Advanced Governance: Consider implementing quadratic voting or vote delegation to increase the fairness of the governance system.
- Fee Distribution: Add a mechanism for distributing protocol fees to token holders or stakers.
- Liquidation Incentives: Create incentives for third parties to liquidate undercollateralized loans promptly.
This project is licensed under the MIT License. See the LICENSE file for details.
We welcome contributions! Please refer to the CONTRIBUTING guidelines to get started.
Feel free to raise issues, submit PRs, and help grow the Nexus DeFi Protocol!