DTSC — Decentralized T-Share Coin

A strictly decentralized stablecoin protocol for PulseChain, pegged to $1, backed exclusively by HEX T-shares (minimum 2,000 days to maturity).

Architecture

┌─────────────┐     ┌──────────────────┐     ┌─────────────────┐
│  HEX Stake  │────▶│  VaultManager    │────▶│      DTSC       │
│  (T-share)  │     │  (CDP / Mint)    │     │   ($1 stable)   │
└─────────────┘     └────────┬─────────┘     └────────┬────────┘
                             │                          │
                    ┌────────▼────────┐        ┌────────▼────────┐
                    │ TShareValuation │        │ Stability Pool  │
                    │  + HexOracle    │        │  (80% penalties)│
                    └─────────────────┘        └────────┬────────┘
                                                          │
                    ┌─────────────────┐        ┌────────▼────────┐
                    │ RedemptionHandler│◀──────│  Buyback & Burn │
                    │  (primary peg)  │        │  (20% penalties)│
                    └─────────────────┘        └─────────────────┘

Contracts

Contract	Role
DTSC.sol	Stablecoin token (the protocol's only token)
TShareValuation.sol	On-chain Effective Value (EV)
HexPriceOracle.sol	TWAP + spot from PulseX (conservative min)
VaultManager.sol	Vaults, mint/repay, liquidation
StabilityPool.sol	Primary peg defense mechanism
RedemptionHandler.sol	Primary redemption mechanism
RecoveryModule.sol	System-wide recovery mode
PenaltyRouter.sol	80/20 penalty split
BuybackBurn.sol	Secondary peg support
DTSCDeployer.sol	One-shot deploy + wiring lock

Valuation Formula (EV)

EV = (Principal × HEX_Price) + EarnedRewards + LongBonus − TimeDiscount

• EarnedRewards: conservative — only already accrued rewards (Phase 1)
• LongBonus: 0% / 5% / 10–15% (tier-based)
• TimeDiscount: linear 0–15%
• Hard cap: 2× Principal Value

Collateral Tiers

Tier	Days	Min CCR	LTV
Long	4,000–5,555	150%	~66%
Medium-Long	2,000–3,999	160%	~62.5%
Not allowed	< 2,000	—	—

Two Collateral Modes

1. Registered (existing stakes)

The user registers a stakeId owned by their wallet. The protocol monitors on-chain for endStake if triggered, a 20–40% penalty applies.

Note: HEX stakes cannot be transferred between addresses. Full custody is only available via custodial mode.

2. Custodial (new stakes)

The user sends HEX to VaultManager, which calls startStake — the stake is owned by the contract (full lock).

PulseChain Addresses (mainnet)

Asset	Address
HEX	0x2b591e99afE9f32eAA6214f7B7629768c40Eeb39

Development

Prerequisites

• Foundry

Setup

cd dtsc-protocol
forge install foundry-rs/forge-std
forge build
forge test

Frontend

cd frontend
.\serve.ps1
# Open http://localhost:5173 — connect wallet, paste deployed addresses

Deploy (PulseChain)

export PRIVATE_KEY=0x...
export PULSECHAIN_RPC_URL=https://rpc.pulsechain.com
forge script script/Deploy.s.sol --rpc-url $PULSECHAIN_RPC_URL --broadcast

After deploy: addresses are automatically locked via dtsc.lockWiring().

Documentation

• Whitepaper
• Launch Playbook
• Security & Audit Checklist
• Audit Package
• Internal Findings
• Bug Bounty (draft)

Roadmap

Phase	Activity
Design	Whitepaper + design (current)
Development	Smart contracts + tests
Audits	2–3 audits + bug bounty
Bootstrap	Long-tier incentives + Stability Pool
Launch	Mainnet + renounce ownership

Risks

Risk	Mitigation
Early unstake (registered)	Monitoring + 20–40% penalty + cooldown
HEX price crash	Overcollateralization + SP + Recovery
Oracle manipulation	TWAP + min(TWAP, spot) + haircut cap

License

MIT