Phoenix Protocol

A Self-Repaying Loan Protocol

Overview

PhoenixVault is a cutting-edge decentralized finance protocol designed to provide users with flexible, self-repaying loans. By leveraging the innovative financial tech that Ethena labs has developed, we've created a lending ecosystem that prioritizes user empowerment and financial efficiency.

The backbone of Phoenix lies in Ethena’s innovative staking mechanism, wherein the value of sUSDe is bound to increase and NOT decrease in any case.

The USDe stablecoin is built on top of a sophisticated system that utilizes:

• risk management
• asset management
• hedging
• The Reserve Fund This make both USDe and sUSDe very valuable assets.

Project Architecture

📦 Core Components

The project's backend is meticulously structured to ensure robust functionality and security:

Smart Contracts

• MocksUSDe.sol: Imitaes the sUSDe token
• EmberToken.sol: The protocol's native utility token
• PhoenixVault.sol: Manages collateral, borrowing, and liquidation processes
• PhoenixController.sol: Governs protocol parameters and system-wide actions

💻 User Interface

A sleek, responsive Next.js application built with Tailwind CSS, providing an intuitive user experience.

Key Features

🌐 Unique Lending Mechanism

• Phoenix Vaults: ERC721 Vaults, unique for each loan event, keeping track of key details
• Collateral Deposit: Lock sUSDe tokens in the vault
• Flexible Borrowing: Up to 75% loan-to-value ratio
• Self-Reducing Debt: Innovative negative interest model (-15% APY)

⚖️ Risk Management

• Automatic liquidation protection
• Transparent debt tracking
• Secure, audited smart contract infrastructure

Getting Started

Prerequisites

• Node.js
• Ethereum development environment (Hardhat/Ganache)
• Metamask Provider

Installation

1. Clone the repository

   git clone https://github.com/leif-runescribe/Phoenix-Protocol.git
   cd Phoenix-Protocol

2. Install dependencies

   # Smart contract dependencies
   cd core
   npm install
   
   # Frontend dependencies
   cd ../ui
   npm install

3. Deploy and Launch

   # Compile smart contracts
   cd ../core
   npx hardhat compile
   npx hardhat deploy --network localhost
   
   # Start frontend
   cd ../ui
   npm run dev

Roadmap and Future Enhancements

• Oracle Integration
• Multiple Token lending and collateral options
• Enhanced governance mechanisms

Built with 🔥 by the PhoenixVault Team