Understanding Rebase Tokens

Overview

• Rebase tokens: Tokens that adjust supply automatically, affecting token balances indirectly.
• Importance: Addresses use cases like yield-bearing assets, e.g., Aave's aTokens.

Course Highlights

Learning Objectives

• Advanced smart contract development
• Creating stablecoins, DeFi protocols, DAOs
• Testing strategies including fuzz testing and manual verification

Target Audience

• Engineers
• Smart contract security researchers

Career Opportunities

• Web3 Developer Relations: $85,000 - $125,000
• Web3 Developer: $60,000 - $150,000
• Smart Contract Engineer: $100,000 - $150,000
• Smart Contract Auditor: $100,000 - $200,000
• Security Researcher: $49,999 - $120,000

Key Topics Covered

Introduction to Cross-Chain Rebase Tokens

• Utilizes Foundry and Chainlink CCIP
• Covers rebase mechanics, burn-and-mint bridging

Rebase Token Structure

• Core design principles
• Vault mechanics
• Dynamic balance calculations
• Interest rate system favoring early adopters

Writing the Rebase Token Contract

• Implement in Solidity with Foundry
• Key state variables
• Fixed-point math
• Dynamic balance calculation via balanceOf

Implementing Interest Accrual and Burning

• Sync principal and actual balances using _mintAccruedInterest
• Burn function using Max Uint Pattern_

Finalizing the Contract

• Integrate ERC20 features
• Override functions like balanceOf and transfer for interest accrual

Security and Access Control

• Use OpenZeppelin’s Ownable and AccessControl
• Implement single-owner and role-based permissions

Vault Contract

• Manage ETH deposits/redemptions
• Checks-Effects-Interactions pattern for security

Testing and Debugging

• Foundry environment setup
• Fuzzing and debugging with vm.bound and vm.expectPartialRevert

Cross-Chain Concepts

• Potential vulnerabilities in RebaseToken
• Bridging and Chainlink CCIP

Chainlink CCIP and Cross Chain Token (CCT)

• Architecture and security of CCIP
• Addressing liquidity fragmentation with CCT standard

Practical Implementation

Deploying and Testing

• Deploy tokens with Chainlink CCIP
• Address compilation issues

Script Development

• Vault deployment and token pool configuration
• Script for token bridging

Testnet Deployment

• Deploy contracts across Ethereum and zkSync testnets

Final Verification

• Use CCIP Explorer and MetaMask for final cross-chain validation

Instructors

• Patrick Collins: Web3 engineer and founder at Cyfrin
• Guest Lecturers: Juliette Chevalier, Ciara Nightingale, Vasiliy Gualoto, Nader Dabit, Ally Haire, Harrison, Vitto Rivabella

Last Updated

• April 4, 2025