19/09/2022
.husky and .yarn I guess you used Paulrberg template. They are quite useless tbh
.vscode Opinionated to keep it in the source repo, especially if not all your devs use VSCode. Better to add a separate document to explain code style (i.e. formatting, line breaks, comment style, NatSpec position, etc.)
This paper introduces a novel approach to facilitate cost-effective and tax-free offramping for large cryptocurrency holders, commonly referred to as whales. The proposed protocol leverages a decentralised network of random users acting as money relay nodes, allowing whales to transfer substantial amounts of funds to multiple destination bank accounts while mitigating transaction costs and regulatory implications. By utilising zero-knowledge proofs and a reimbursement mechanism, the protocol ensures the successful execution of micro transactions and provides incentives to participating users. This paper presents the design, implementation, and potential benefits of the proposed decentralised offramping protocol.
| // SPDX-License-Identifier: MIT | |
| pragma solidity ^0.8.19; | |
| import { ERC721 } from "@openzeppelin/contracts/token/ERC721/ERC721.sol"; | |
| import { Counters } from "@openzeppelin/contracts/utils/Counters.sol"; | |
| import { IERC20, SafeERC20 } from "@openzeppelin/contracts/token/ERC20/utils/SafeERC20.sol"; | |
| contract CDS is ERC721 { | |
| using SafeERC20 for IERC20; | |
| using Counters for Counters.Counter; |
| // SPDX-License-Identifier: BUSL-1.1 | |
| pragma solidity =0.8.24; | |
| import {ERC4626, IERC4626} from "@openzeppelin/contracts/token/ERC20/extensions/ERC4626.sol"; | |
| import {SafeERC20} from "@openzeppelin/contracts/token/ERC20/utils/SafeERC20.sol"; | |
| import {ERC20, IERC20} from "@openzeppelin/contracts/token/ERC20/ERC20.sol"; | |
| import {ERC20Permit} from "@openzeppelin/contracts/token/ERC20/extensions/ERC20Permit.sol"; | |
| import {Ownable} from "@openzeppelin/contracts/access/Ownable.sol"; | |
| import {Math} from "@openzeppelin/contracts/utils/math/Math.sol"; |
One of the primary issues in market turmoil situations, such as bank runs, is the advantage that first movers have: when investors rush to redeem their shares in a fund, those who move first often receive a better asset value, while remaining investors are left to bear the costs related with liquidation. A well-designed liquidity transformation method moves the redemption costs to the redeeming investors, mitigating this first-mover advantage and promoting fairness among all investors.
Swing pricing adjusts the NAV of a fund to reflect the costs associated with redemptions. This adjustment ensures that the remaining investors are equally affected by the costs incurred due to others redeeming their shares. As a result, swing pricing is a key tool in managing funds, designed to mitigate the adverse effects of large-scale redemptions and to break the first-mover advan
Banks are quintessential to financial intermediation, engaging in two primary transformations:
Maturity Transformation: Banks convert short-term deposits into longer-term loans. For example, a bank might use funds from savings accounts, which can be withdrawn at any time, to finance 30-year mortgages. This process is crucial for economic growth but introduces inherent liquidity risks.
Fungibility Transformation: Banks transform highly liquid, fungible assets (like cash deposits) into less liquid, non-fungible assets such as loans or bonds. This function allows for the efficient allocation of capital throughout the economy.
With the advent of post-1950s financial evolution, the predominance of traditional banking has been paralleled by the emergence of shadow banking a sector characterised by similar financial activities undertaken by non-bank financial institutions subject to lesser regulations, which now comprise
