j-mueller

A solution to the Big-Address staking problem

Many DeFi apps on Cardano keep all of the funds they control at a single address. The funds are locked not just by the same Plutus script but allocated to the same staking credential. Whoever controls the staking credential can claim the rewards of the staked Ada and, by delegating to a stake pool of their choice, has considerable power within the consensus mechanism that is securing the entire Cardano network. If all of an app's staking rewards are controlled by a single entity, then how decentralised can the app really claim to be?

Another issue arises if the amount of Ada at the app's address exceeds the maximum amount that can be allocated to a single stake pool. In that case the excess Ada will not count towards staking rewards and some rewards will be forfeited. This makes it less attractive for liquidity providers to send their Ada to popular applications.

In this blog post we propose a novel, algorithmic, decentralised Ada stablecoin that solves the "

j-mueller

-- Vesting scheme as a PLC contract
import           Control.Monad            (void, when)
import           Data.Default             (Default (def))
import qualified Data.Map                 as Map
import qualified Data.Text                as T

import           Ledger                   (Address, POSIXTime, POSIXTimeRange, PubKeyHash, Validator)
import qualified Ledger
import qualified Ledger.Ada               as Ada
import           Ledger.Constraints       (TxConstraints, mustBeSignedBy, mustPayToTheScript, mustValidateIn)

j-mueller

-- Vesting scheme as a PLC contract
import           Control.Monad                     (void, when)
import qualified Data.Map                          as Map
import qualified Data.Text                         as T

import           Language.Plutus.Contract          hiding (when)
import qualified Language.Plutus.Contract.Typed.Tx as Typed
import qualified Language.PlutusTx                 as PlutusTx
import           Language.PlutusTx.Prelude         hiding (Semigroup (..), fold)
import           Ledger                            (Address, PubKeyHash, Slot (Slot), Validator, pubKeyHash)

j-mueller

{
  "$schema": "https://vega.github.io/schema/vega-lite/v4.json",
  "description": "Anteile der Produkte an den Ausgaben",
  "data": {
    "values": [
  {
    "Leistung": 31301,
    "Gruppe": "3 - Soziales",
    "Name": "Hilfen für Asylbewerber",
    "Typ": "Ertrag",

j-mueller

{-# LANGUAGE UndecidableInstances #-}
{-# LANGUAGE TypeFamilies #-}
{-# LANGUAGE FlexibleInstances #-}
{-# LANGUAGE LambdaCase #-}
{-# LANGUAGE TypeOperators #-}
{-# LANGUAGE KindSignatures #-}
{-# LANGUAGE GADTs #-}
{-# LANGUAGE DataKinds #-}

module Salad where

j-mueller

{-# LANGuAGE NamedFieldPuns #-}
{-# LANGUAGE DataKinds #-}
{-# LANGUAGE TypeApplications #-}
{-# LANGUAGE MonoLocalBinds #-}
{-# LANGUAGE FlexibleContexts #-}
module Language.Plutus.Contract.NewContract where

import Control.Applicative
import Data.Map (Map)
import Data.Bifunctor

j-mueller

{-# LANGUAGE DeriveGeneric #-}
{-# LANGUAGE MultiParamTypeClasses #-}

import           Control.Lens                 (makeClassyPrisms)
import qualified Ledger.Interval              as Interval
import GHC.Generics (Generic)
import           Ledger.Validation            (PendingTx, PendingTx'(..))
import qualified Ledger.Validation            as Validation
import qualified Ledger.Typed.Scripts         as Scripts
import           Ledger.Value                 (Value)

j-mueller

	Thu Dec  5 13:26 2019 Time and Allocation Profiling Report  (Final)

	   plutus-use-cases-test +RTS -p -RTS

	total time  =      103.89 secs   (103889 ticks @ 1000 us, 1 processor)
	total alloc = 135,255,702,776 bytes  (excludes profiling overheads)

COST CENTRE            MODULE                                 SRC                                                             %time %alloc

renameTypeM            Language.PlutusCore.Rename.Internal    src/Language/PlutusCore/Rename/Internal.hs:(47,1)-(55,49)        12.8   12.4

j-mueller

{-# LANGUAGE FlexibleContexts #-}
-- A game with two players. Player 1 thinks of a secret word
-- and uses its hash, and the game validator script, to lock
-- some funds (the prize) in a pay-to-script transaction output.
-- Player 2 guesses the word by attempting to spend the transaction
-- output. If the guess is correct, the validator script releases the funds.
-- If it isn't, the funds stay locked.
import           Control.Applicative        ((<|>), Applicative(..))
import           Control.Lens
import           Control.Monad              (when, void)

j-mueller

      Events for W2:
        • {contribute: (PubKey {getPubKey = fc51cd8e6218a1a38da47ed00230f0580816ed13ba3303ac5deb911548908025},Value {getValue = Map {unMap = [(,Map {unMap = [(,10)]})]}})}
        • {tx: WriteTxSuccess: TxIdOf {getTxId = 380fbc4c5efc421c4c6759c1cd07910cc83451f6adbbd1b08341a2679a55f34b}}
        • {address: ( 9f0318d20018a8181e18e018fe18ac18e818fb1884185e185e18c9185018a618f918ad18d81837091824184f187b1881131846185413189f184118a4ff
          , Tx TxId: 9f18380f18bc184c185e18fc1842181c184c1867185918c118cd0718910c18c81834185118f618ad18bb18d118b01883184118a21867189a185518f3184bff:
            {inputs: TxInOf {txInRef = TxOutRefOf {txOutRefId = TxIdOf {getTxId = 60ea4aabc8bee7b68555c4655e3a0e76f734b8f8725a13158157f6c97eafe284}, txOutRefIdx = 8}, txInType = ConsumePublicKeyAddress (PubKey {getPubKey = fc51cd8e6218a1a38da47ed00230f0580816ed13ba3303ac5deb911548908025})}
            outputs: PayToPubKey: PubKey: fc51cd8e6218a1a38da47ed00230f0580816ed13ba3303ac5deb911548908025, PayToScript: "\252Q\20