UAED Stablecoin
Sustaining Stability Through Decentralized Token Management

www.uaed.finanace

The UAED stablecoin, short for United Arab Emirates Dirham, introduces a steadfast and anti-inflationary framework through a decentralized methodology for token creation and removal. This innovation is underpinned by a distinct smart contract named UAEDmanager, exclusively dedicated to the minting and burning processes of UAED tokens.


As users deposit USDC into UAEDmanager, it seamlessly initiates the minting of UAED tokens at a fixed ratio of 0.27:1. It's essential to emphasize that the deposited USDC becomes securely locked within the UAEDmanager smart contract, ensuring absolute isolation of these funds. This decentralized locking mechanism bestows an additional layer of assurance, strengthening the reliability of UAED's stability.


Furthermore, users retain the autonomy to transfer UAED tokens back to the UAEDmanager smart contract, thus engaging in a process facilitated by the protocol that initiates the incineration of UAED tokens, leading to a proportional reduction in the circulating supply. Simultaneously, the formerly locked USDC is unshackled and returned to the user at a reciprocal ratio of 1:0.27.


This intricate mechanism constitutes the cornerstone of UAED's stability, maintaining an impeccably balanced ratio between UAED tokens and the securely locked USDC. In essence, the UAED stablecoin operates through a decentralized paradigm, facilitated by the UAEDmanager smart contract for token creation and removal. This approach guarantees stability and shields against excessive inflation, assiduously preserving the equilibrium of the USDC-to-UAED token ratio.


Notably, the success of the UAED stablecoin has been underscored by its listing on the Uniswap decentralized exchange. This listing has provided users with the opportunity to seamlessly trade and access the UAED token within the broader DeFi ecosystem. The underlying security of the locking mechanism safeguards deposited assets, while the provision to return UAED tokens to the UAEDmanager empowers users to reclaim their securely locked USDC.


Deployment Addresses

For those interested in exploring the UAED Stablecoin on different networks, here are the deployment addresses for the respective networks:

Test Results


UAED> truffle test test/uaed.js

Compiling your contracts...
===========================
> Compiling .contractsECDSA.sol
> Compiling .contractsMigrations.sol
> Compiling .contractsUAED.sol
> Compiling .contractsUAEDProtocolRequestor.sol
> Compiling .contractsUAEDfinancePool.sol
> Compiling .contractsUAEDfinancePoolManager.sol
> Compiling .contractsUAEDfinancePrices.sol
> Compiling .contractsUAEDfinanceProtocol.sol
> Compiling .contractsUAEDmanager.sol
> Compiling .contracts	estHelperPriceFeed.sol
> Compiling .contracts	estHelperPriceFeed.sol
> Compiling .contracts	estHelperUAEDtestHelper.sol
> Compiling .contracts	estHelperlashLoanTester.sol
> Compiling .contracts	estHelper	okensUSDC.sol
> Compiling .contracts	estHelper	okensUSDC.sol
> Compiling .contracts	estHelper	okensWBTC.sol
> Compiling .contracts	estHelper	okensWBTC.sol
> Compiling .contracts	estHelper	okensWETH.sol
> Compiling .contracts	estHelper	okensWETH.sol
> Compilation warnings encountered:

> Compiled successfully using:
   - solc: 0.8.19+commit.7dd6d404.Emscripten.clang
✓ Transaction submitted successfully. Hash: 0xe082e9e9357324e917eb37a709cb994a4520bb29632fe1be2e8d48140936a490
✓ Transaction submitted successfully. Hash: 0x2ab47b8d540b1e171e3f6760f5ee8d57b72ca2752b00cb23cd31b47d43210c96

            usdcMintAmount : 100000000
            uaedMintAmount : 370370370



  Contract: UAED
    mint USDC to users
✓ Transaction submitted successfully. Hash: 0x5d40454bb72cc54cb16b592f530458a34f68cdb8307370301f23bf097c9562d3
✓ Transaction submitted successfully. Hash: 0x56104857c3b9f2778816256374b899f147e31dd23e02e029723175bad39d5018

                --------------------------------------
                USDC : 0x30c2311e026B50858DDEABDE022398E822aBa0AF
                UAEDmanager : 0xB08c3BB9EBC2Cd9261DEa868F13e30F39A7a085f
                UAED : 0xBE467b38698090B35044B0558f3616f5d988Fa32
                ----------UAED token details----------
                name : UAE Dirham
                symbol : UAED
                decimals : 6
                protocol : 0xB08c3BB9EBC2Cd9261DEa868F13e30F39A7a085f

      √ step1: create main contracts (1326ms)

            user1 UAED balance : 0
            user1 USDC balance : 0
            user2 UAED balance : 0
            user2 USDC balance : 0
            user3 UAED balance : 0
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 0
            UAED totalSupply : 0

✓ Transaction submitted successfully. Hash: 0x59226303894e8348b5810d97950afd630aea82f116b21bc8591a6cc03a05d46e
      √ step2: mint USDC to user1 (377ms)

            user1 UAED balance : 0
            user1 USDC balance : 100000000
            user2 UAED balance : 0
            user2 USDC balance : 0
            user3 UAED balance : 0
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 0
            UAED totalSupply : 0

✓ Transaction submitted successfully. Hash: 0xf59017113dfe6c559289e2c293344006b812e280a437fb461894cf00a676b057
      √ step3: mint USDC to user2 (339ms)

            user1 UAED balance : 0
            user1 USDC balance : 100000000
            user2 UAED balance : 0
            user2 USDC balance : 100000000
            user3 UAED balance : 0
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 0
            UAED totalSupply : 0

✓ Transaction submitted successfully. Hash: 0x0f4836a9211fb7c2a027ea3e9e0cb089d0779a69596277554756f8ead166b5a3
✓ Transaction submitted successfully. Hash: 0x3ce2b2b34f184e4061fefcc9e75cecc2939720e6d9b033bd863585072fd069ca
      √ step4: user1 deposits USDC and UAED mints to his wallet (737ms)

            user1 UAED balance : 370370370
            user1 USDC balance : 1
            user2 UAED balance : 0
            user2 USDC balance : 100000000
            user3 UAED balance : 0
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 99999999
            UAED totalSupply : 370370370

✓ Transaction submitted successfully. Hash: 0x3935f2745242ffcaa1ce7f014a79d449cf5808b54f8fb4b6eb8e25fb0a82384a
✓ Transaction submitted successfully. Hash: 0x6310dbe65f59ad84b34c1cb02902d5a937f488cb79de7f43366887911d995545
      √ step5: user2 deposits USDC and UAED mints to user3 wallet (713ms)

            user1 UAED balance : 370370370
            user1 USDC balance : 1
            user2 UAED balance : 0
            user2 USDC balance : 1
            user3 UAED balance : 370370370
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 199999998
            UAED totalSupply : 740740740

✓ Transaction submitted successfully. Hash: 0x3f0491f68889dcfeacaf58c924f68a109e80ab3ec7b7ef9ec20eafd2049aedcc
      √ step6: user1 burn half of his UAED (480ms)

            user1 UAED balance : 185185185
            user1 USDC balance : 50000000
            user2 UAED balance : 0
            user2 USDC balance : 1
            user3 UAED balance : 370370370
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 0
            uaedManager USDC balance : 149999999
            UAED totalSupply : 555555555

✓ Transaction submitted successfully. Hash: 0xec4fabaf6a40b0eca61135852dbf7e887e1b038ce06bf1c51009e130bf3932ed
✓ Transaction submitted successfully. Hash: 0x22722db14a97fed1ab848c15f7393816db927e914f8de34a24558e91b73cc162
      √ step7: user3 approves to user4 and user4 burn his UAED (632ms)

            user1 UAED balance : 185185185
            user1 USDC balance : 50000000
            user2 UAED balance : 0
            user2 USDC balance : 1
            user3 UAED balance : 185185185
            user3 USDC balance : 0
            user4 UAED balance : 0
            user4 USDC balance : 49999999
            uaedManager USDC balance : 100000000
            UAED totalSupply : 370370370



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