CLP Coin (CLPC)

CLP Coin is the first stablecoin pegged to CLP (Chilean pesos) in the XRPL network.

CLP Coin uses hooks for development.

For this version (0.1), CLP Coin uses a similar structure the the peggy.c example for hooks development

About CLP Coin

Ticker: CLPC

CLP Coin is an over-collateralized XRP-backed stablecoin pegged to Chilean pesos.

Sending XRP to it creates a vault and sends back CLPC, which can be redeemed against the vault to get back the original XRP.

The exchange rate between XRP and CLPC is the limit set on a trustline established between two special oracle accounts.

The collateralization is between 120% to 150%.

How to test

• Open Hooks Builder
• Make sure Hooks Builder has at least 5 accounts: Alice, Bob, Carol, Carlos, and Charlie
• run decode.js, twice, to convert Carlos and Charlie's accounts to binary form; save the values somewhere
• if Carlos's account number is numerically higher than Charlie, switch the accounts (either re-import them or just switch their names in the following text)
• set up a trust limit for the CLPC user, by running trust-user.js; the script requires 2 parameters:
  1. the user account (Alice) sends the TrustSet transaction so that the script requires its private key
  2. the hook account (Carol) is set up as the trusted issuer
• set up trust limit on the oracle, by running trust-oracle.js; the script requires 2 parameters:
  1. the low account (Carlos) sends the TrustSet transaction so that the script requires its private key
  2. the high account (Charlie) is set up as the trusted issuer
• compile peggy.c and deploy it to Carol account, with 2 parameters:
  1. "oracle_lo" set Carlos binary account
  2. and "oracle_hi" set to the Charlie binary account
• set up a payment transaction from Alice to Carol
• open debug stream filtered on Carol
• run the transaction, and see it succeed: