canton-stablecoin

Warning

This software is experimental and not intended for production use. Use at your own risk.

A DAML template for building CIP-056 token registries and MakerDAO-esque CDP stablecoins on the Canton Network. Clone it, run the setup script, start writing contracts.

simple-token: 800 lines of production code implement all 6 CIP-056 on-ledger interfaces. 36 tests cover transfer lifecycle, allocation/DvP, defragmentation, and 20 security invariants.

stablecoin: 340 lines extend simple-token with a CDP vault system (overcollateralization, minting, liquidation, stability fees). 27 tests cover the full vault lifecycle and 22 security invariants. Minted stablecoins are standard CIP-056 holdings that transfer via the existing SimpleTokenRules.

Three verification tools (static analysis, property testing, formal proofs) validate both modules.

Quick Start

git clone https://github.com/OpenZeppelin/canton-stablecoin.git && cd canton-stablecoin
scripts/setup.sh            # checks tools, builds, runs tests

Or manually:

cd simple-token && dpm build
cd ../stablecoin && dpm build
cd ../simple-token-test && dpm build && dpm test
cd ../stablecoin-test && dpm build && dpm test

dpm test requires Java 21. The setup script detects your JAVA_HOME automatically.

What You Get

simple-token/          7 templates implementing 6 CIP-056 interfaces
simple-token-test/     36 tests (9 transfer, 5 allocation, 2 defrag, 20 security)
stablecoin/            3 templates (PriceOracle, VaultFactory, Vault) + 3 helpers
stablecoin-test/       27 tests (12 happy path, 9 negative, 1 integration, 5 property-based)
dars/                  Splice interface DARs + daml-props (committed, no setup needed)
scripts/               setup.sh (bootstrap) and verify.sh (run all verification tools)
docs/                  Design docs for simple-token and stablecoin

Customizing

Rename the token: edit simple-token/daml.yaml and SimpleTokenRules.supportedInstruments.

Add behavior: the factory's 3-way dispatch (self-transfer, direct, two-step) lives in Rules.daml. Allocation/DvP logic is in Allocation.daml. Each template maps to one lifecycle state.

CDP vaults: stablecoin/daml/Stablecoin/Vault.daml contains VaultFactory, Vault, and all choices. Oracle price feeds live in Oracle.daml. Risk parameters (collateral ratio, liquidation bonus, stability fee) are in VaultParams.

Write tests first. The TDD skill enforces RED-GREEN-REFACTOR gates.

Verification

scripts/verify.sh     # runs all three tools

• daml-lint -- static analysis (6 detectors, <1s)
• daml-props -- property-based testing with shrinking (~30s)
• daml-verify -- formal verification via Z3 (~2s)

Install verification tools: scripts/setup.sh (without --skip-verification).

Agent Skills

For AI-assisted development with Claude Code or Codex, see daml-skills.

Prerequisites

• dpm (Digital Asset Package Manager)
• Daml SDK 3.4.10
• Java 21

Docs

simple-token (CIP-056)

• docs/SCOPE.md -- what's in scope, what's not, differences from Splice
• docs/PLAN.md -- implementation plan, security invariants, test criteria
• docs/AUDIT.md -- verification report from three tools

stablecoin (CDP)

• docs/stablecoin/SCOPE.md -- scope, omitted MakerDAO features, architectural decisions
• docs/stablecoin/PLAN.md -- templates, choices, security invariants, test plan
• docs/stablecoin/AUDIT.md -- verification report (14 proofs, 5 property tests, 3 findings)