CoinSprout
Interest Bearing Stable Coin. Leverages STETH to provide interest for USDC.
Project Description
Coin sprout is a decentralized finance (DeFi) project that allows users to deposit USDC, which is converted into STETH, and earn interest over time. The smart contract calculates interest based on live rates provided by Chronicle Labs' oracle and distributes it upon withdrawal, ensuring transparent and automated yield generation. The project leverages Ethereum and Foundry for multi-chain deployment, offering a secure and innovative way to grow stablecoin investments.
How it's Made
The project consists of two main elements:
- trading bot python file: calls on chain functions
- Solidity smart contract: with deposit and withdraw functions - this is where the USDC is converted to STETH and back. Uses Chronicle's LIDO_LST_2DAYS_1 oracle to find interest rate value and age of asset.
