https://github.com/makerdao/dai-protocol-formalization

https://github.com/makerdao/dai-protocol-formalization

Last synced: 22 days ago
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• Host: GitHub
• URL: https://github.com/makerdao/dai-protocol-formalization
• Owner: makerdao
• License: agpl-3.0
• Created: 2021-02-28T22:03:56.000Z (almost 4 years ago)
• Default Branch: main
• Last Pushed: 2021-03-05T04:23:50.000Z (almost 4 years ago)
• Last Synced: 2024-11-09T03:39:11.627Z (3 months ago)
• Language: TeX
• Size: 254 KB
• Stars: 1
• Watchers: 4
• Forks: 3
• Open Issues: 0
• Metadata Files:
  • Readme: README.md
  • License: LICENSE

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README

        
# Overview

This repository contains a formal description of the DAI protocol (or perhaps multiple such descriptions, at various levels of detail, or in different formalisms--still under construction).

To give some motivation: the DAI protocol, at a very high level, utilizes economic mechanisms to produce a synthetic asset ("DAI") that is valued by the market at an approximately constant price in some

reference asset. At least two reasonably successful, and non-triviially different, versions of the protocol have been implemented on the Ethereum blockchain: single-collateral DAI (the "SAI protocol", or SCD) 

and multi-collateral DAI ("MCD"). There should be a "highest-level" definition or formalization that recognizes both of these systems as instantiations (or near-representations). Below this level, there should

also exist a generalized MCD that can continue to describe the on-chain system as it evolves, or be used to help instantiate the protocol on other chains in the future.