As promised in the announcement, updates will be posted here as we continue testnet releases on our road to the mainnet release of the Descent Protocol core contracts and their interaction with Descent core products and tools.

As we progress, our goal is to be as transparent as possible with the community and consistently clarify the scope of releases.

This post provides an update on the second release of Descent Protocol v0.2.0 which is a migration from Base Goerli to Base Sepolia, the details of which include development updates to the following areas:

• Core Contracts

• Periphery Contracts

• Interface

• Descent Typescript SDK

Descriptive Changelog (v0.1.2 <> v0.2.0)

Timeline

• Version 0.1.2 (Released on January 12, 2024)

• Version 0.2.0 (Released on February 16, 2024)

Since the v0.1.2 Base Goerli release, the following has been changed and/or added for the newest Base Sepolia 0.2.0 release:

The following projects have been updated to use the new Base Sepolia deployment:

• Smart contracts

• Descent Interface

• Typescript SDK

New Contract Addresses and Contract Changes

For the v0.2.0 release, we have introduced a Rates module contract and re-released all the core and periphery contracts.

Core System Contracts

Periphery Contracts

Key Smart Contract Functionality Changes

• Use 18 decimals for Rate and Liquidation threshold parameters

• Abstract the rate calculation to a different contract to make it modular

• Add global debt ceiling and add check for global and collateral debt ceiling when minting

• Enable users to be able to repay and withdraw during paused

Key changes on the Periphery contract

• Add router support for permit2 transferFrom, permit2 permit, permit2 permitTransferFrom, erc20 permit, erc20 transferFrom. To give more flexibility

Next Steps

We are now another step closer to achieving the Descent Protocol Base Mainnet launch. Over the coming weeks, we’ll be focused on improving the overall modularity of the protocol, enhancing the Rates module, adding the Liquidations and Auctions module to the core protocol contracts and making enhancements to the interface.

As always, we want to remind you that community feedback is crucial as we move toward the Base mainnet release of Descent Protocol. Please join our public community on Telegram to provide feedback and ask any questions you may have.

Our main focus over the past couple of months has been the development and release of the Descent Protocol core contracts on Base Goerli and their interaction with the core Descent products and tools. As we work toward the full protocol mainnet release, our goal is to be as transparent as possible with the community and consistently help clarify the scope of what will be delivered over the next few months.

This blog post will kick off Update One of many testnet release updates on our road to Descent Protocol Mainnet. Our aim is to update the community on our progress every few weeks. These updates will cover our latest deployments and the features within them, and offer example walkthroughs and guides for you to explore on your own.

Descent Protocol DApp Sneak Peek

What’s New with Descent Protocol?

Overview: The Deployed Components (v0.1.2)

For the latest testnet release, we have updated our SDKs and DApp to help you interact with the protocol. These updates include:

• Protocol core Contracts

• Peripheral Contracts

• Descent SDK Typescript Library

• Descent Protocol Interface

Core System Contracts

Peripheral Contracts

Getting Started with Descent Protocol

To start using and interacting with the above services, you will need to get some Base Goerli ETH and USDC. You can get some Base Goerli ETH here and USDC on Goerli here.

The interface will be updated accordingly to support every new release. In the first release of the testnet environment, you will be able to go through the processes of a Vault lifecycle. This includes locking in some collateral, drawing xNGN, paying back the xNGN, and then unlocking(withdrawing) the collateral.

You can check it out here: https://testnet.descentdao.com

Note: You can also setup the Descent Interface on your local machine by following the instructions in this repository: https://github.com/Descent-Collective/interface

The current deployed interface is in a very early work stage and is still in progress. Over the next few weeks, more functionality will be made available, and any feedback collected will be considered for upcoming releases.

If you are willing, you can use fill out this form to provide feedback on the product.

The Descent SDK Library

The Descent SDK library enable you to start developing on Descent protocol by creating loans, issuing xNGN and interacting with the different system modules

Link to the Repository: https://github.com/Descent-Collective/descent-sdk

Next steps

When building a system like this, it is crucial to get feedback—not just from internal teams, but also from the entire DescentDAO community. Please be sure to ask us any questions you may have, provide feedback or even share your excitement with us. To do so, leave your feedback using this link.