Rupee Coin
A Decentralized Stable coin pegged with Indian Rupee, allows user to deposit collateral and mint Rupee Coin.
Created on 25th July 2023
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Rupee Coin
A Decentralized Stable coin pegged with Indian Rupee, allows user to deposit collateral and mint Rupee Coin.
The problem Rupee Coin solves
It allows people to deposit collateral, and borrow the Rupee Coin, which is a Decentralized Stable Coin pegged with Indian Rupee. User can withdraw their collateral deposted, they can burn the coin in case their health factor gets broken. Also allows users to liquidate the defaulters, and get rewarded.
It uses algorithmic approach to facilitate everything.
Challenges we ran into
To get the price rate conversion of eth and btc to INR. So, we figured out to use chainlink functions and used API key to get the conversion rate.
Tracks Applied (2)
Defi
Blockchain & Cryptocurrencies
Discussion
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