descent-collective/dsn-token

Governance Token for the Descent protocol

DSN Token 🏦

This repository contains the contract code for the DSN Token

The $DSN token—the governance token of the Descent Protocol, allows those who hold it to vote on changes to the Descent Protocol. Note that anyone, not only $DSN holders, can submit proposals for an $DSN vote.

Design Considerations

The $DSN token has 3 methods of use within the Descent Protocol

• As a utility token

  • As xNGN stability fees earned on Vaults accrue within the Descent Protocol, $DSN holders can use $DSN to vote to enable the the auction module to sell xNGN surplus for $DSN. Once the auction is complete the $DSN protocol burns the $DSN.

• As a governance token

  • $DSN is used by $DSN holders to vote for the risk management and business logic of the Descent Protocol. Tokens are a simple representation of voting power.

• As a recapitalization resource

  • $DSN can autonomously be minted by the auction module and sold for xNGN, which is used to recap the Descent Protocol in times of insolvency.

Usage

Prerequisites

• git
• nodeJS
• brew
• foundry - You can run sh ./setup.sh to install Foundry and its dependencies.
• Hardhat

Setup

• Clone the repository

  git clone https://github.com/Descent-Collective/DSN-token.git
  cd DSN-token

• Install packages

  yarn
  

• Build contracts

```
yarn build
```

Deploying

Create a .env in the root with:

PRIVATE_KEY=PRIVATE_KEY
ALCHEMY_API_KEY=

Then run:

yarn run deploy:ethereum_goerli

Run unit tests

yarn run test