DegenLend Protocol

The DegenLend Protocol is a decentralized finance (DeFi) protocol built on the SX Network. It allows users to supply assets (Ether or ERC-20 tokens) to earn interest or borrow assets by using their supplied assets as collateral. The protocol achieves this by using cToken contracts, which represent claims to supplied assets and generate interest based on the algorithmically set interest rates. Users can interact with these contracts to manage their loans and collateral. This system is largely inspired by Compound V2.

Core Features:

• Supply Assets: Earn interest on deposited assets by receiving cTokens that represent your balance in the protocol.
• Borrow Assets: Use supplied assets as collateral to borrow other supported assets.
• Interest Rate Modeling: Interest rates are automatically adjusted by the protocol based on supply and demand through the JumpRateModelV2.

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Contract Addresses

Here are the key contracts and addresses that make up the DegenLend Protocol. Each contract serves a specific role in managing the supply, borrowing, and rate calculations:

Contract Type	Name/Address	Notes
Unitroller	0xF1c01bCe4802935Df07a452dae85F88D9f197948	Proxy contract controlling access to the Comptroller.
Comptroller (Old)	0x8D1230e6Ae4C1Bc573697D93103349C3FDefC944	The initial implementation of the protocol's logic.
Comptroller (2nd)	0xF490B8E1cC2AE794DA3D5AF36B7b2610883D7733	Updated implementation.
degenWSX#CErc20Immutable (Deprecated)	0x5cB7786A478eEc37Da5F6EA2e946cD860E784743	Previous market implementation for WSX token.
degenUSDC#CErc20Immutable (Deprecated)	0xC863E82CD46296F1F81C63cDEB3708505B5b0d97	Previous market implementation for USDC token.
SimplePriceOracle (Deprecated)	0x6ca684b4773aF95AB5AE8d0aB7bA078237536DDF	Old price oracle implementation.
JumpRateModelV2	0xe5ADAbf78627cE464FaceE2970D0b71c0a525038	Interest rate model used by the protocol.
SimplePriceOracle (Final)	0x97F1Ffc1139e742c1A5A4B80847687C736752988	Latest price oracle used in the system.

Token Addresses:

• USDC: 0x5147891461a7C81075950f8eE6384e019e39ab98
• Wrapped SX: 0x2D4e10Ee64CCF407C7F765B363348f7F62D2E06e
• degenUSDC: [Address Missing]
• degenWSX: [Address Missing]

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Security Notes

1. Hundred Finance Exploit (Ref: Compound Discussion): This exploit is related to opening markets with a vulnerable collateral factor, making the protocol open to attack.

2. Solidity Security Lesson - Initial Deposit Exploit:

   • When initializing a new market, set the collateral factor to zero and mint/burn cTokens to ensure a non-zero total supply before adjusting the collateral factor to the desired value. This ensures enhanced security against potential exploits.

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Current Implementations (SX Testnet)

• Comptroller: 0x937C076C8D9F85291F5cd22E95b1212C0138A609
• Unitroller: 0xB078459124e55Eb9F2937c86c0Ec893ff4FF082b
• Simple Price Oracle: ``
• SX Interest Rate Model: 0x353e7839870604Edf9D766bEFb7929c95c215e00
• USDC Interest Rate Model: 0xeE1bFEE55C42048735c04A9bE7133EB62417F131
• Degen USDC: 0xc3eAff959EB22aea6581D7bf52d4d44BdbbDCcD1
• Degen Wrapped SX: 0xf547a2FE994E2207d4d7F13e69B0b2C0aC24cc2f

SX Network Testnet Assets:

• USDC: 0x5147891461a7C81075950f8eE6384e019e39ab98
• Wrapped SX: 0x2D4e10Ee64CCF407C7F765B363348f7F62D2E06e

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To-Do:

1. Update Missing Token Addresses:

   • degenUSDC: [Address Required]
   • degenWSX: [Address Required]

2. Integrate Improvements from Security Audits:

   • Ensure all improvements from the audit are integrated into the current contract versions.