# Project Plan: Roesticoin - A Stablecoin on the Ethereum Blockchain
### Project Name
Roesticoin (ROC)
### Project Purpose
Roesticoin is a stablecoin implemented on the Ethereum blockchain. Its value is pegged to the price of potatoes in Swiss francs (CHF), aiming to provide a unique and innovative use case for blockchain-based currency. The project aspires to combine traditional agricultural economics with modern decentralized finance principles, making it both practical and educational.
## Getting all running
when switching between Devcontainer and production, rebuild the container, because the base image is different
### For development in Devcontainer
- open in VS Code
- add and modify `.env` file based on `.env.sample`
- reopen in container
### As release in Production
- add and modify `.env` file based on `.env.sample`
-`docker-compose -f docker-compose.yml -f docker-compose.release.yml up --build -d`
### Target Audience
This documentation is intended for Thomas Bocek, the blockchain module professor at OST - University of Applied Sciences, as well as team members or developers who worked on the project.
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## Project Title:
**Roesticoin: Swiss Franc-Pegged Stablecoin on Ethereum**
## 2. Architecture Overview
### Key Components
-**Grafana Dashboard**: Provides a visual representation and monitoring of key metrics related to the Roesticoin project. It enables the team to track real-time data and ensure system reliability. It also double serves as our frontend.
-**Roesticoin Service**: Manages core application functions such as minting, burning, liquidity, marketplace operations, and token interactions. This is the backbone of the project, ensuring the proper functionality.
-**Prometheus**: Integrated with Grafana for data collection and metric aggregation. Prometheus ensures reliable and scalable data monitoring.
### Key Technologies
-**Programming Languages**: C# (backend and application logic), Solidity (smart contract implementation on Ethereum).
-**Monitoring Tools**: Grafana (dashboard creation and visualization), Prometheus (data collection and alerting).
-**Database**: Postgresql (database)
-**Containerization**: Docker (standardizes development and deployment processes).
## Team:
- Andri Joos
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- David Hintermann
## 3. Infrastructure Details
- Davor Lucic
### Environment Setup
We use two environments to facilitate development and deployment:
1.**Normal Environment**: A typical environment used for application deployment and testing in real-world scenarios.
2.**Devcontainer**: A standardized development environment configured using:
- A JSON configuration file that defines the settings and dependencies.
- A Docker Compose file to automate container setup and ensure uniformity across team members. This setup simplifies onboarding and minimizes discrepancies in development environments.
### Hosting
The Coin itself is deployed on the Ethereum blockchain. However, the rebalancing service we have is centralized.
### Monitoring Metrics
Metrics monitored through Grafana include:
-**Total Supply of Roesticoin**: Tracks the overall circulating supply of the token.
-**WETH/Roesticoin Price**: Monitors the token's exchange rate with Wrapped Ethereum (WETH).
-**Marketplace Potato Price (CHF and ETH)**: Reflects the price of potatoes in Swiss francs and its equivalent in Ethereum.
-**ETH Price in CHF**: Keeps track of the current Ethereum price in Swiss francs for accurate conversions.
-**Total Weight of Potatoes in Storage**: Provides an aggregated value of all stored potatoes, essential for accurate backing of the stablecoin.
## Objective:
The goal of this project is to design and implement **Roesticoin**, a stablecoin pegged to the Swiss Franc
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(CHF) on the Ethereum blockchain. The coin will be implemented using **.NET technologies** for smart contract development and integration. The stablecoin will ensure stability through 1:1 collateralization with CHF and aim to serve as a reliable means of exchange.
## 4. Deployment Processes
### Development Environment Setup
1.**Prerequisites**: Ensure Docker and the VS Code Dev Containers plugin are installed on your machine.
2.**Setup Process**: Open the project directory in VS Code. Use the Dev Containers feature to launch the development environment automatically.
3.**Run the Application**: Execute `Program.cs` using your development tools. This initializes the entire Roesticoin service, including core functionalities like monitoring and token operations.
4.**Standardization**: The devcontainer setup ensures that all developers work in a consistent environment, minimizing compatibility issues.
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## Deliverables:
1.**Roesticoin Smart Contract**: An Ethereum-based ERC-20 token with functionality for minting, burning, and transferring tokens.
2.**Backend System**: A .NET-based system that integrates with the Ethereum blockchain to manage the issuance and redemption of Roesticoin, and interfaces with the Swiss Franc.
3.**Frontend Application**: A user-friendly interface for interacting with Roesticoin, allowing users to manage their tokens via a web-based dashboard.
## 5. Tokenomics
<imgsrc="overview.png">
### Minting and Burning Process
-**Minting**: Tokens are minted when the current supply of ROC is too low to push the current course.
-**Burning**: Burning works as the opposite of minting: when the supply of ROC is too high so the current course can't be pushed down enough, we burn ROC.
- These mechanisms follow established strategies used by other stablecoins, ensuring stability and reliability.
- Testing: **Remix IDE**, **Nethereum** for Ethereum blockchain testing
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## 6. Monitoring and External Dependencies
### Data Sources
- Roesticoin relies on the official potato price published by the Swiss government. This data is manually fetched from reliable government reports, as no API is available.
## Risk Management:
-**Blockchain Gas Fees**: Ensure the contract is optimized for gas efficiency.
-**Security Vulnerabilities**: Conduct smart contract audits and testing to prevent issues like reentrancy attacks.
-**Currency Peg Stability**: Implement mechanisms to monitor CHF collateral and ensure accurate pegging.
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## 7. Security
### Secure Processes
- The project adheres to standard blockchain security practices, ensuring the integrity and robustness of minting and burning operations.
- Smart contracts are thoroughly reviewed and tested to avoid vulnerabilities or exploits to the best of our abilities.
- Since the code base is on Andri Joos' own Gitlab server, access to the codebase is very restricted.
## Evaluation Criteria:
- Functionality of Roesticoin as a stablecoin pegged to CHF.
- Successful deployment on Ethereum with full integration in .NET.
- User interface and ease of interaction through the web dashboard.
- Security and efficiency of smart contract code.
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## 8. Maintenance
### Documentation Maintenance
- This will be the first and list time the documentation will be updated, since the projects is ending its lifecycle.
