/erc20-wrapper

Primary LanguageSolidity

ERC-20 Wrapper

yieldprotocol/mentorship2022#3

Objectives

  1. Users can send a pre-specified ERC-20 token to a contract that also is an ERC-20, and that we will call Wrapper.
  2. The Wrapper contract issues an equal number of Wrapper tokens to the sender.
  3. At any point, a holder of Wrapper tokens can burn them to recover their initial deposit.

Two contracts will be required:

  • ERC20 token that will be the currency
  • ERC20 Wrapper that will store the currency and give Wrapper tokens to the users.

Wrapper Contract Core Functions

constructor()

  • instantiates ERC-20 token contract to be received

deposit()

  • receives ERC-20 token from usere
  • checks that the token is of the pre-specified address
  • mints an equivalent number of wrapper tokens to sender

redeem()

  • receives wrapper ERC-20 token from user
  • sends original ERC-20 to user

Extension

Ether is not an ERC-20 token. This forces all platforms to implement Ether as an edge case. Code a Wrapper that takes Ether as it's currency.