Smart Contracts

Workflow

The GasStation protocol operates through four interconnected smart contracts, each playing a crucial role. Central to this system is the Executor smart contract, which facilitates seamless interaction among the contracts and manages key functions related to token supply and interest rates.

Executor Smart Contract

The Executor manages the lifecycle of GIX tokens, handling their minting (creation) and burning (destruction), as well as facilitating liquidity deposits and withdrawals in the pool. These operations are triggered by user interactions with the protocol. Furthermore, the Executor adjusts the GIX token supply in accordance with IIRM requirements.

To ensure the system's responsiveness to market conditions, the Executor maintains continuous communication with the IIRM contract. This allows it to retrieve up-to-date information, such as changes in interest rates or necessary supply adjustments.

Insurance Interest Rate Model (IIRM)

This model determines when and how the supply of GIX tokens should change to maintain the protocol's stability. It ensures that insurance-related adjustments in the protocol are made in response to real-time data.

ETH and Collateral Management

All ETH that enters the protocol is stored in the Pool contract. This includes both the collateral provided by users when they interact with the protocol and the portion of ETH paid by users when purchasing GIX tokens. The ETH paid by GIX buyers is treated as collateral, but it specifically belongs to the GIX smart contract. Consequently, the GIX smart contract manages and controls this portion of the collateral within the pool.

GIX Smart Contract

The GIX smart contract manages the GIX tokens that users purchase and use within the protocol. When users buy GIX tokens, the ETH they pay is deposited as collateral in the pool contract. This ETH is specifically tied to the GIX smart contract, indicating that this portion of the collateral belongs to the GIX holders. The GIX smart contract oversees this portion of the protocol's assets, ensuring its proper use and distribution.