Deposit points-earning tokens into the vault. Collect tokenized versions of your points, distributed at some cadence. These tokens can be traded or used in DeFi. Withdraw your points-earning tokens whenever you want and resume earning normal, illiquid points.
These contracts are only a piece of a larger decentralized system that will allow users to tokenize their points. Here is a UMD of the entire system:
- PTokens are tokenized versions of points
- They will be redeemable for rewards after rewards have been distributed
- They will map 1:1 with the points earned by user assets deposited into the vault
- The vault has ownership and can grant minting/burning permissions to other contracts for future system expansion
- The vault is highly dependent on trusted actors – namely, the merkle updator and the admin
- The trusted actors will slowly be replaced by a stake-validated network (e.g. an Eigen AVS Oracle)
- If you wish to make a merkle root from scratch, you must first
- For most points programs, simple redemption where users redeem fungible PTokens for rewards will suffice
- For programs with vesting, we take a snapshot of PToken balances at the time of distribution and grant redemption rights
- This allows users to redeem only portions of their PTokens in a controlled manner
- Even if they sell their PTokens, they will keep the rights, and can buy back cheaply and redeem if the PTokens are mispriced on the market
- We assume that the exchange rate between points and rewards stays the same throughout the redemption period
To install with Foundry:
forge install [user]/[repo]
This project uses Foundry as the development framework.
forge install
forge build
forge test
Please create a .env file before deployment.
forge script script/PointTokenVault.s.sol -f [network]
forge script script/PointTokenVault.s.sol -f [network] --verify --broadcast