zero-loss-bet
A Zero-loss-Lottery Protocol leveraging Liquidity Protocols and Chainlink Automation.
Project Description
Zero-Loss This contains the smart contracts that are written for the zero-loss. The projects were written, deployed and verfied using hardhat.
Approach There is a RaffleFactory contract that spits out a Raffle contract and keep track of the Raffles created.
When creating a Raffle, it takes 10 Arguments.
assetAddress: The ERC20 token address, in which the Raffle will be pooled in. nativeFee: A small charge in the native coin of the chain, for the gas fees. In future, this will be pegged to USD, by utilizing price oracles. entranceFee: The minimum amount of tokens that the Player should send to the Raffle. interval: The duration in seconds during which the Raffle is in OPEN State and accepts pool deposits. accureInterval: The duration in seconds during which the pool amount is transferred to the Liquidity Providers and earning interest. liquidityProviderAddress: The address of the contract that implements ILiquidityProvider. The ILiquidityProvider abstracts the necessary methods from a Liquidty Provider that are needed, for example: supply and withdraw methods. vrfCoordinator: The Chainlink's VRFv2 coordinator Address. gasLane: Chainlink's specified gas key Hash. subscriptionId: Chainlink's VRF subscription Id. callbackGasLimit: The gas limit for the vrf call. Read more about VRF and the corresponding chainlink parameters here.
The user enters the Raffle by executing enterRaffle method. But before calling this, the user must approve the transfer of the tokens by the Raffle contract.
Once, the user enters the raffle, the user can set the amount that is being transferred, and is divided up by the entranceFee. The user will be inserted that many times in the array of user addresses.
For example, EntranceFee is 100 and the user sets the transfer amount has 1000, then the user will be 10 times in the array, which will give more probability for the user to win. The chainlink Automation is integrated through custom-logic by implementing checkUpKeep and performUpKeep.
This will take care of when to transfer the pool funds to the set Liquidity provider and also withdraw the funds from the set Liquidity Provider.
This will trigger an automatic raffle winner and the user will be awarded the initial amount + pooled earnings. Remaining will get their invest amount back. The user can get their tokens back by executing withdrawTokens method.
Liquidity Pools Compound-Finance: Compound-Finance V3 was used as the Liquidity Provider, to where the funds are transferred and the funds will get interest from the supply. Implemented a Compound Liquidity Provider based on ILiquidity Provider. AAVE Finance: In the similar way, AAVE V3 is used as Liquidity Provider. Deployments RaffleFactory: 0x188D96ACfC2bf6092264E46fB72Bf7BF068E4128 Raffle: 0x188D96ACfC2bf6092264E46fB72Bf7BF068E4128
How it's Made
Zero-Loss This contains the smart contracts that are written for the zero-loss. The projects were written, deployed and verfied using hardhat.
Approach There is a RaffleFactory contract that spits out a Raffle contract and keep track of the Raffles created.
When creating a Raffle, it takes 10 Arguments.
assetAddress: The ERC20 token address, in which the Raffle will be pooled in. nativeFee: A small charge in the native coin of the chain, for the gas fees. In future, this will be pegged to USD, by utilizing price oracles. entranceFee: The minimum amount of tokens that the Player should send to the Raffle. interval: The duration in seconds during which the Raffle is in OPEN State and accepts pool deposits. accureInterval: The duration in seconds during which the pool amount is transferred to the Liquidity Providers and earning interest. liquidityProviderAddress: The address of the contract that implements ILiquidityProvider. The ILiquidityProvider abstracts the necessary methods from a Liquidty Provider that are needed, for example: supply and withdraw methods. vrfCoordinator: The Chainlink's VRFv2 coordinator Address. gasLane: Chainlink's specified gas key Hash. subscriptionId: Chainlink's VRF subscription Id. callbackGasLimit: The gas limit for the vrf call. Read more about VRF and the corresponding chainlink parameters here.
The user enters the Raffle by executing enterRaffle method. But before calling this, the user must approve the transfer of the tokens by the Raffle contract.
Once, the user enters the raffle, the user can set the amount that is being transferred, and is divided up by the entranceFee. The user will be inserted that many times in the array of user addresses.
For example, EntranceFee is 100 and the user sets the transfer amount has 1000, then the user will be 10 times in the array, which will give more probability for the user to win. The chainlink Automation is integrated through custom-logic by implementing checkUpKeep and performUpKeep.
This will take care of when to transfer the pool funds to the set Liquidity provider and also withdraw the funds from the set Liquidity Provider.
This will trigger an automatic raffle winner and the user will be awarded the initial amount + pooled earnings. Remaining will get their invest amount back. The user can get their tokens back by executing withdrawTokens method.
Liquidity Pools Compound-Finance: Compound-Finance V3 was used as the Liquidity Provider, to where the funds are transferred and the funds will get interest from the supply. Implemented a Compound Liquidity Provider based on ILiquidity Provider. AAVE Finance: In the similar way, AAVE V3 is used as Liquidity Provider. Deployments RaffleFactory: 0x188D96ACfC2bf6092264E46fB72Bf7BF068E4128 Raffle: 0x188D96ACfC2bf6092264E46fB72Bf7BF068E4128
