Storing USDCin secure inaccessibe place

[Tofara_Moyo]

Hallo

im creating 2 erc20 tokens, one (A) that replces the amount it is bought for with USDC.and another (B) that stores this USDC. So the second one is an INDEX of the USDCand the first. So I need it (B)to automatically buy the USDC upon purchase and store it in a place so that it is always asscoiated with my token (B)and cannot be transfered seperately from my token. Where would i store the USDC for all the tokens (B)in a single secure place where noone even i have no access of except for the code on the contract. When the user decides to cash out the coin what happens is that he is given the USDC back first into his wallet.Then the value of A is spread among users.

Thankyou in advance

[mcgrane5]

so you want to let a user by USDC fro some other token (your ERC20token) and stake or lock up the USDC somewhere and then when the user wants there USDC back you can redeem by giving back your ERC20 am i correct with this assumption. sorry your question is worded a little confusingly just trying to make sure this is what your after?

[Tofara_Moyo]

The contract buys the USDC everytime the token is bought. So if the token has 1$ worth of USDC within it (stored somewhere)…then the token is held till its price gets to 2$, when it is bought for 2$, this extra dollar is used to buy USDC, that is then split among all token holders.And the tokens value increases to slightly above 1$ depending on how many tokens share the extra 1$.

The token will be in the token owners wallet, and will point to where the USDC is kept. But where?

[mcgrane5]

hmmm. you cant do this the way your thinking. because in a sense your creating value from nothing here. i think what you want is a variation of a staking contract. for example a user owns some USDC then gives it or stakes it in some contract. the staking contract can now use the USDC to do defi with it. maybe lend it out or something.

the closest thing that i can think of thats similar to what your after is intrest bearing tokens. thse are tokens that accumulat intrest the longer you hold them. for example lets say you stake 10 USDC in some contract. you will then recieve 10 xUSDC as a receipt. and the longer you hold your xUSDC you will gain intrest on it perhaps due to some staking rewards alogrithm (see more in https://www.paradigm.xyz/2021/05/liquidity-mining-on-uniswap-v3) which gives u intrest by inflating the asset or by some of the profits the staking contract makes from doing defi with the real USDC. meanwhile the USDC in the staing contract is used for other defi purposes such as lending or arbitrage. then when you want to redeem your xUSDC you pay back the original 10 xUSDC and keep whatever leftovers you have accumulated

[Tofara_Moyo]

The main trick is that once the token is sold for 2$,Above the value of the USDC in it which may be 1$, we need something that represents the extra 1$. Thats why the token, call it A, is an index (alloy) of USDC and another token call it B. Then B will be sold. Since this depletes the amount of B we have, we will need a more complicated algorithm.

We need an index of USDC, B, and C tokens.

Then in the first round we sell half of B and buy USDC when the price goes up by 50c say,

Then we have 1.25 USDC 0.5 B and 1 C.

When the price increases again but this time to 2$ we sell half of C and add to B.

Then we have 1,25 USDC 1.5 B and 0.5C

when the price increases once more we sell 0.5 of B and buy back the 0.5 of C

then we have 1.25 USDC 1 B and 1 C

And we have gained 25c of USDC in A at no loss.

This will be happening at every scale, not specifically 0.5 or 2.

So the tokens B and C will be tradeable on their own and will store the value of the token.

The trick is to trade B and C at different values of A so that you can siphon money out while replacing Both B and C. This siphoned money represents the faith that the market has in the coin. This faith is assured because the coin is backed by USDC and increases whenever it is bought

This is the same sort of value that an increase in stock prices following an announcement has. It looks like its value fom nothing but its not.

[mcgrane5]

hmm ok i think its more clearn now. one thing im wondering though. is this accounts for scenario where the price goes up. wha if the token drops or looses value

[Tofara_Moyo]

B and C , like all tokens will start at a very low price. Their increase in price will be riven by what A does. Since A will be largely composd of USDC, A itself is secure to price fluctuations. So we can only gain in this scenario. each time we gain we reset but with more USDC and B and C go back to very low prices. if we lose , since B and C have been reset to low prices we dont lose much. Infact we can afford for to wait for demand in A to go up, then continue the process. so we never really lose and only gain.

[Tofara_Moyo]

Would you or anyone want to be a part of this?

[mcgrane5]

hmmmm i still working aroud with yuour forumlae in my nead. i want to jot this down, easier to plan that way. i think it is a cool idea but im still not sure of it yet

[Tofara_Moyo]

Thats the work flow except that it will be stacked with a C token.

So in essence we are trading between B and C tokens in a cycle.

Everytime there is a surplus , we convert it to USDC.

if there is none we wait till there is.

[Tofara_Moyo]

Demand for A itself fuels the B and C market

demand for A is based on its advantages of ever increasing and secure value.

demand for the C and b tokens comes from people who want the advantage that they will not be dumped because A needs them.

and A has a very good basis for existing as explained

[Tofara_Moyo]

Hi, do you know how I can go about it? A is an index of usdc b or c, depending on our phase.I need to launch the b an c tokens first. Then when I place liquidity for a it is used to buy usdc and 1b. Then when the price of 1b is higher than 1c we sell all of b and buy 1c while the remainder is used to buy usdc, .Then when 1c is worth more than 1b we do the reverse and buy usdc with the surplus.

This will happen in cycles because when we are selling all of b , we are in effect dumping it while pumping c. On its own pumping one coin while dumping another then reversing while taking a bit of each time is not sustainable. You will deplete the amount used to pump.

But this is unique because we have added demand in the form of a, that when a is raised by demand this translates to an external force adding demand to pump the b or c coin depending on which phase we are in. Bringing it to levels that were seen before. depending on how much a is being pumped.(remember a cannot be dumped).

People will trade b and c on their own because in crypto its not absolute price where money is made , but volatility, and the way we have set it up of cycling raising and falling, b and c have plenty of that.

If you analyse this you will see this is similar to a gambling house. Where traders in b and c stand to make a killing, but those in a are the house, taking a bit here and a bit there from b and c holders. And the house always wins.

I need advice for coding.How would I modify the methods in this template to achieve this? https://www.quicknode.com/guides/solidity/how-to-create-and-deploy-an-erc20-token?fbclid=IwAR1BHq2FE9rrRi4-tkHTWMUeU7z25m8yAeW_HJn-2xtaee2Ff5mscYoHllE
If you can just describe it if you can’t provide full code.
What would be helpful would be to mention what you would call the extra methods you would add.As in their names if they are suggestive

[mcgrane5]

hey. was away for the weekend. yeah let me read your above posts and ill take a look at that article and get back to you once i digest it. also thanks for the diagrams lol you clearly have went to a lot of effort here

[Tofara_Moyo]

Any luck? Im really new to programming so your help would be appreciated

[Tofara_Moyo]

Any one else following this …

[Tofara_Moyo]

Hi mcgrane5, are you still interested in helping?

[Tofara_Moyo]

Hi, please don’t be afraid to ask for opinions from others if you don’t have a solution… I have a patent for this

[mcgrane5]

hey bro. yeah i thought about it awhile back id have to sit down and spend awhile looking at this to see what would be sthe best way to set up ypur contracts. still a bit unsure about some things. have you tried starting this yourself at all?

[Tofara_Moyo]

Hi thanks for the reply

the main problem is addresses if we do it the one way.

When A tokens are traded, we actually have to trade B or C coins (depending on which one the A coin is holding)

That way those coins volume of trade on the market go up. so it seems that each A coin must have an address where the usdc and another two where either one of B or one of C coin are held .

This way is very inefficient, and i dont know if we could have 25 000.000.000 addresses for each token.

Another way is to create addresses dynamically for splits of the 25B coins, where each split represents someone owning a part of the supply. So there will be as many secondary addresses as there are owners of the A coin.

I havent started coding this at all. Its because i am very new to solidity and im scared of producing something thats easily hackable. As you can see this system has many parts.

If we do this system together, i am willing to go 50/50 with you on the tokens we hold, if thats ok with you.

Just a heads up, i approached our local cellular network provider here in Zimbabwe and they have decided that they will use the idea without compensating me. I had told them about my patent but according to them they had the idea already and it was well documented.

Given the outlier nature of this idea i seriously doubt that. So we could let them do all the dirty work, then sue them, or rush to produce this before them.

Whats your advice on this situation.

[Tofara_Moyo]

would you like to schedule a call? My email s [email protected] send me an invite please, any time