đź’»

Rebase Tokens and Smart Contracts Overview

Apr 25, 2025

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