From a6f8cfd31d9542a0434f7b6d1db1888a51743381 Mon Sep 17 00:00:00 2001 From: Guru Date: Sat, 7 Mar 2026 20:50:09 +0530 Subject: [PATCH] Create RFP-005 for Private Stablecoin Development This document outlines the requirements and expectations for developing a private stablecoin within the Logos ecosystem, emphasizing functionality, security, usability, and team qualifications. --- RFPs/RFP-005-private-stablecoin.md | 132 +++++++++++++++++++++++++++++ 1 file changed, 132 insertions(+) create mode 100644 RFPs/RFP-005-private-stablecoin.md diff --git a/RFPs/RFP-005-private-stablecoin.md b/RFPs/RFP-005-private-stablecoin.md new file mode 100644 index 0000000..54261d7 --- /dev/null +++ b/RFPs/RFP-005-private-stablecoin.md @@ -0,0 +1,132 @@ +--- +id: RFP-005 +title: Private Stablecoin +tier: L +funding: $XXXXX +status: open +category: Applications & Integrations +--- + + +# RFP-005 — Private Stablecoin + +## 🧭 Overview + +Design and implement a stablecoin that operates natively within the Logos +shielded ecosystem, providing a stable, private unit of account for payments, +DeFi, and everyday transactions. Individual user balances and transfers must +remain fully confidential while the reserves and minting mechanism remain +auditable for solvency. + +A private stablecoin is essential for making the Logos ecosystem usable for +real-world economic activity. Without a stable medium of exchange, users are +forced to hold only volatile assets, limiting the ecosystem to speculation +rather than enabling private payments, payroll, commerce, and composable +DeFi. + +The ideal team has deep experience in stablecoin mechanism design, +ZK-based auditability, and the intersection of regulatory compliance +with user privacy. + +## 🔥 Why This Matters + +Stablecoins are the backbone of every successful blockchain ecosystem. +Berachain launched with a native stablecoin (HONEY) at its core economic +loop. Base's explosive growth was heavily accelerated by Coinbase's native, +fee-free USDC integration, which made the chain immediately useful for +real-value transfers. + +For a privacy L1, the stablecoin is even more critical. Without one, users +must expose themselves to native-asset volatility for every private +transaction, or worse, exit to transparent chains to access stable value — +destroying their privacy. A shielded stablecoin enables truly private +payments, private payroll, and private DeFi — use cases that are impossible +on transparent chains and represent the core value proposition of the Logos +ecosystem. + +Critically, the stablecoin must balance privacy with trust: while individual +balances and transfers are confidential, the reserves backing the stablecoin +should be provably solvent via ZK proofs or periodic attestations, ensuring +users can trust the peg without sacrificing their privacy. + +## ✅ Scope of Work + +### Hard Requirements + +#### Functionality +1. Implement a stablecoin token that operates entirely within the Logos + shielded pool, with all transfers being confidential by default. +2. Implement a minting mechanism with clearly defined collateral or + reserve backing (e.g., over-collateralized by bridged assets, or + backed by a fiat-reserve model with attestations). +3. Implement a redemption mechanism allowing users to burn stablecoins + to reclaim underlying collateral. +4. Provide a ZK-based proof-of-solvency mechanism that allows anyone + to verify the stablecoin is fully backed without revealing individual + positions or reserve composition details. +5. Implement a price oracle integration (or oracle-free mechanism) for + maintaining the peg. + +#### Security +1. Include liquidation mechanisms (if over-collateralized) that operate + without revealing the positions being liquidated. +2. Include an emergency pause mechanism for minting and redemptions. +3. Implement governance controls for adjusting collateral parameters + (e.g., collateral ratios, accepted collateral types). + +#### Usability +1. Provide a minimal front-end UI for minting, redeeming, and + transferring the stablecoin. +2. Provide a public solvency dashboard showing aggregate reserve + health without revealing individual positions. + +### Soft Requirements + +1. Support for multiple collateral types (e.g., bridged ETH, bridged + USDC, native Logos token). +2. Integration with the Logos DEX (RFP-004) for immediate trading pair + availability. +3. Exploration of algorithmic stabilization mechanisms as a complement + to collateral backing. +4. Support for privacy-preserving compliance proofs (e.g., a user can + prove their stablecoin holdings are below a threshold without + revealing the exact amount). + +## 👤 Recommended Team Profile + +Team experienced with: + +- Stablecoin mechanism design (collateralized, algorithmic, or hybrid) +- Zero-knowledge proof systems and ZK auditability +- Oracle integration and price feed security +- DeFi smart contract development and security +- Monetary policy and economic modeling +- Front-end development for DeFi applications + +## ⏱ Timeline Expectations + +Estimated duration: **12–18 weeks** + + +## 🌍 Open Source Requirement + +All code must be released under the **MIT+Apache2.0 dual License**. + + +## Resources + +- [Logos Documentation](https://github.com/logos-co/logos-docs) +- [Logos Blockchain Node Quickstart](https://github.com/logos-co/logos-docs/blob/main/docs/blockchain/quickstart-guide-for-the-logos-blockchain-node.md) +- TODO: LEE official doc +- TODO: Shielded asset specification +- TODO: Oracle integration guide + + +## ✏️ How to Apply + +👉 Submit a proposal using the Issue form: + +**[Submit Proposal](https://github.com/logos-co/rfp/issues/new?template=proposal.yml)** + +We typically respond within **14 days**. For clarification questions, +please use **Discussions**.