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  First page

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  Proof of Resilience (P.O.R.) page

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  Mint page

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  Redeem page

SYLIUM Protocol

What it SYLIUM ?

• Here is a short introduction of the SYLIUM protocol, you can find detailed informations about the protocol, Stabilization Equation and the P.O.R. in this file : Litepaper

• SYLIUM is a DeFi protocol that allows investors to mint the SYLI stablecoin SYLI is pegged to the US dollar and backed by three token: ETH, USDC and SYLIX (the non-stable governance token of the protocol)

• SYLIUM introduces a new way to build stability : The Stabilization Equation This model enables the SYLI to always remain very close to $1 even with ETH and SYLIX prices variations.

• SYLIUM introduces a new paradigm in the DeFi space: uncertainty can be mastered and turned into an opportunity for investors thanks to the Proof of Resilience (P.O.R.)

Inspiration

• FRAX
• Fei protocol
• Maker DAO

How I built it

• Solidity smart contracts
• Hardhat
• Mocha and Chai Libraries
• Javascript
• Figma
• Chainlink Price data feed
• ERC20 @openzeppelin
• Infura
• Ethers.js

Challenges I ran into

• Learn quickly finance concepts like arbitrage
• Learn how supply and demand work for a token in the DeFi space
• Prioritize tasks to work on the project beside uni courses
• Find out mathematical explanations and considerations from abstract ideas

Accomplishments that I'm proud of

• I came out with a stabilisation model that works and that is able to create opportunities for investors

What I learned

• Build a token indexed on other ones
• Use maths in a smart contract

What's next for SYLIUM Protocol

• Add features to the smart contracts
• Finish the testing phase
• Build the Frontend with next.js and React
• Deploy SYLIUM on a testnet by the end of August.

Built With

• chai.js
• chainlink
• ethers.js
• hardhat
• infura
• javascript
• mocha.js
• openzeppelin
• solidity