Stablecoin EAS
Stablecoin attestation for the collateral assets
Created on 9th December 2023
•
Stablecoin EAS
Stablecoin attestation for the collateral assets
The problem Stablecoin EAS solves
With the rise of Stablecoin adoption and Singapore passing the Stablecoin regulation, the main concern which still remains is the on-chain proof for the offchain collateral assets. All top stablecoins in market now has the offchain collateral asset and there is no audit which can be trusted. So, this app uses Ethereum Attestation Service to have the attested certificate of the audits on-chain from multiple auditors with certain expiry and renew option. Before minting new stable coins, the attestation can be verified by the SC and by the user. Along with this it uses Chainlink's oracle to check for the under-collateralised stablecoin.
Challenges we ran into
Finding the right solution to mitigate the off-chain collateral asset verification.
Tracks Applied (2)
Polygon Track
Polygon
Chainlink Track
Chainlink
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.