by Etherfuse
Completed
1
by Etherfuse
Completed
![]() 8,000USDC Total Prizes | ||
5,000 USDC 1st 2,000 USDC 2nd 1,000 USDC 3rd |
...
SUBMISSIONS
0h:0m:0s
REMAINING
SKILLS NEEDED
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Etherfuse is a fintech company focused on blending traditional finance with blockchain to offer secure and transparent products. Its key offerings include Stablebonds—tokenized government bonds—and Sovereign Coins, stablecoins backed by these bonds for secure on-chain transactions. Operating on the Solana blockchain, Etherfuse aims to make financial assets more accessible and efficient.
Create stable.fun
Develop a site where users can create their own stablecoins based on the yield-bearing stablebonds tokens that exist on https://etherfuse.com. These stablecoins would match the currency of the bonds that they are based on, and provide creators and possibly your own site with a way to earn yield on issued tokens. The winner will be awarded 5000 USDC, and stable.fun will be transferred to them. Etherfuse would be happy to help or assist you, but this will be your own site. The idea is that this is like a hackathon project, but with concrete objectives and a viable business at the end.
The project's inspiration is the idea of a "stablecoin factory" where users can create their own stablecoins. This would combine the excitement and fun of democratized coin creation like https://pump.fun while providing a way to monetize and earn yield on external government debt.
Grand Prize: $5000 USDC and the domain https://stable.fun
1st Runner Up: $2000 USDC
2nd Runner Up: $1000 USDC
What is a Stablebond?
Think US Treasuries, or Mexican Cetes, or other government debt. We create SPL tokens with Solana's Interest Bearing Token extension locked to the yield of these bonds, and the prices go up accordingly. You can purchase these stablebond tokens at https://app.etherfuse.com, and redeem them for the new value at the end of any issuance (this usually happens at a weekly cadence). Visit our site to learn more: https://etherfuse.com/.
Will Etherfuse own any portion of my code or site?
No, it’s yours. You will retain full control over your code and any intellectual property rights.
Create a program that will mint the stablecoin
The program should be able to be deployed on the Solana blockchain
The program should allow users to specify a token name, symbol, icon and target fiat currency.
The program should have a mint function that takes a user's wallet address and mints an amount of tokens to them based upon a public oracle exchange rate. Etherfuse will provide oracles for USD/Fiat currency pairs at Switchboard.
The program should have a redeem function that takes a user's wallet address and burns an amount of tokens from them based upon a public oracle exchange rate.
The program code must be open source with the Etherfuse team able to review.
Some consideration should be given to keeping the coin pegged to the fiat currency.
Create a frontend that allows users to create their own stablecoins
The UI should allow users to create new stablecoins by entering a name, symbol, icon, and target fiat currency.
The UI should show previous stablecoins and their information, like the name, symbol, icon, target fiat currency, and total supply.
The UI should allow users to redeem their stablecoins for the underlying yield bearing token.
The UI should allow users to mint more stablecoins with their yield bearing token.
The frontend code must be visible to the Etherfuse team for review.
Ideally, any backend should be as simple as possible, as the program and chain will hold the bulk of the logic.
Depending on the number of submissions, we may also consider:
The site should be mobile responsive and look good on mobile devices.
The site should be secure and protect user funds from being stolen.
The site should be easy to understand and navigate.
The site should be customizable to the winner's brand and style.
Any social media engagement around the project will be considered.
The submission should include:
Link to the program code on a viewable source code repository
Link to the frontend code on a viewable source code repository
Link to a live demo of the site (Vercel, Vite, etc)
A 1-2 minute video demoing the site and explaining how it works
Thoughts about stablecoins: https://x.com/etherfuse/status/186416112018123110
Paper talking about fiat currencies and stablebonds: https://black.etherfuse.com
Twitter: https://x.com/etherfuse
NPM SDK for interacting with the stablebonds: https://www.npmjs.com/package/@etherfuse/stablebond-sdk
Rust SDK: https://crates.io/crates/stablebond-sdk
SKILLS NEEDED
Frontend
Backend
Blockchain
Mobile
Design
CONTACT
Reach outif you have any questions about this initialBounty