- Introduction
- Overall Description
- System Features & Functional Requirements
- External Interface Requirements
- Non-Functional Requirements
- Other Requirements
- Appendices
This Software Requirements Specification (SRS) defines the functional and non-functional requirements for Fiotech Stablecoin (1USD), a USD-pegged stablecoin designed for the Fiotech ecosystem. The stablecoin provides price stability and serves as a medium of exchange, unit of account, and store of value within the ecosystem.
- USD-pegged stablecoin with algorithmic and collateral-backed stability mechanisms
- Minting and redemption system with authorized providers
- Stability mechanisms including reserve management and price oracles
- Integration with Fiotech Exchange and DeFi protocols
- Governance features for parameter adjustment and emergency controls
- Compliance framework for regulatory requirements
Note: Fiotech Stablecoin (1USD) aims to maintain a stable $1.00 USD value while providing transparency and decentralization.
| Term |
Definition |
| 1USD |
Fiotech Stablecoin pegged to US Dollar |
| Stablecoin |
Cryptocurrency designed to maintain stable value |
| Collateral |
Assets backing the stablecoin value |
| Reserve Ratio |
Percentage of backing assets vs circulating stablecoins |
| Oracle |
External data feed providing price information |
| Minting |
Process of creating new stablecoin tokens |
| Redemption |
Process of burning stablecoins for underlying assets |
| Stability Mechanism |
Automated systems maintaining price stability |
- IEEE Std 830-1998 – Recommended Practice for SRS
- Stablecoin Regulatory Framework
- USD Coin (USDC) Technical Documentation
- Fiotech Technical Specification v1.0
- Fiotech Exchange Technical Specification v1.0
Fiotech Stablecoin serves as the stable value foundation for the Fiotech ecosystem:
- Price Stability through multi-layered stability mechanisms
- Ecosystem Integration with all Fiotech platforms and services
- Regulatory Compliance with transparent reserve management
- Decentralized Governance with community oversight
- Institutional Grade security and operational standards
- Cross-chain Compatibility for broader DeFi integration
- Stable Value Maintenance – Keep 1USD ≈ $1.00 through various mechanisms
- Minting & Redemption – Controlled issuance and burning of tokens
- Reserve Management – Transparent backing asset management
- Oracle Integration – Real-time price feeds and market data
- Governance Controls – Community-driven parameter adjustments
- Compliance Monitoring – Regulatory reporting and transparency
- DeFi Integration – Seamless use across ecosystem protocols
| ID |
Requirement |
Priority |
| FR-1 |
Maintain 1USD value within ±2% of $1.00 USD |
Must |
| FR-2 |
ERC-20 compatible token with standard functions |
Must |
| FR-3 |
Mintable and burnable token with access controls |
Must |
| FR-4 |
Pausable functionality for emergency situations |
Must |
- FR-5: Authorized minter system with KYC/AML compliance
- FR-6: Collateral deposit system for minting new tokens
- FR-7: Instant redemption system with burning mechanism
- FR-8: Minimum and maximum minting/redemption limits
- FR-9: Transaction fee structure for minting/redemption
| ID |
Requirement |
Priority |
| FR-10 |
Oracle-based price monitoring and alerts |
Must |
| FR-11 |
Automated arbitrage opportunity detection |
Should |
| FR-12 |
Reserve ratio monitoring and rebalancing |
Must |
| FR-13 |
Emergency stability interventions |
Must |
| FR-14 |
Interest rate adjustments for supply/demand |
Could |
- FR-15: Multi-asset collateral system (USD, USDC, US Treasuries)
- FR-16: Real-time reserve ratio calculation and reporting
- FR-17: Automated rebalancing of reserve assets
- FR-18: Third-party custody integration for institutional assets
- FR-19: Transparent reserve auditing and verification
| ID |
Requirement |
Priority |
| FR-20 |
Parameter adjustment through DAO voting |
Should |
| FR-21 |
Emergency pause and recovery mechanisms |
Must |
| FR-22 |
Authorized minter management and rotation |
Must |
| FR-23 |
Reserve allocation strategy governance |
Should |
| FR-24 |
Compliance policy updates and implementation |
Must |
- Web Dashboard: Reserve transparency and system health monitoring
- Mobile App: Basic transfer and balance checking functionality
- API Interface: RESTful APIs for integration and automation
- Admin Panel: System management and emergency controls
- Fiotech Integration: Native deployment and optimization
- Cross-chain Bridges: Integration with Ethereum, BSC, and others
- DeFi Protocol Integration: Native support in AMMs and lending
- Wallet Integration: Support in all major wallets
- Price Oracles: Chainlink, Band Protocol, and others
- Banking Partners: Traditional banking for fiat reserves
- Custody Services: Institutional-grade asset custody
- Audit Services: Regular smart contract and reserve audits
| Category |
Requirement |
Metric |
| Stability |
Maintain ±2% peg 99.5% of the time |
Monitoring |
| Performance |
Transaction processing ≤ 30 seconds |
P95 |
| Availability |
99.99% system uptime |
SLA |
| Security |
Multi-sig controls and regular audits |
Audit |
| Transparency |
Real-time reserve reporting ≤ 1 hour delay |
Compliance |
| Scalability |
Support $1B+ in circulating supply |
Capacity |
- Money transmission licensing where required
- KYC/AML procedures for authorized minters
- Regular auditing of reserves and smart contracts
- Regulatory reporting for transparency and compliance
- Reserve diversification across multiple asset types
- Liquidation procedures for emergency situations
- Insurance coverage for smart contract and operational risks
- Stress testing under various market conditions
- Fiotech Exchange native trading pair support
- DeFi protocols integration for lending and borrowing
- Payment systems for merchant adoption
- Cross-chain protocols for multi-network availability
| Mechanism Type |
Trigger Condition |
Response Action |
| Oracle Alert |
Price deviation >1% |
Increase monitoring frequency |
| Arbitrage Signal |
Price deviation >2% |
Notify authorized arbitrageurs |
| Reserve Alert |
Reserve ratio <110% |
Trigger reserve rebalancing |
| Emergency |
Price deviation >5% |
Activate emergency protocols |
| Asset Type |
Target Allocation |
Minimum |
Maximum |
Liquidity Requirement |
| USD Cash |
20% |
10% |
40% |
Immediate |
| USDC |
30% |
20% |
50% |
<1 hour |
| US Treasuries |
40% |
20% |
60% |
<1 day |
| Other Stables |
10% |
0% |
20% |
<1 hour |
-
KYC/AML Compliance
- Full identity verification
- Background checks
- Ongoing monitoring
-
Financial Requirements
- Minimum $1M in backing assets
- Insurance coverage
- Operational track record
-
Technical Requirements
- Secure key management
- API integration capability
- 24/7 operational capacity
| Emergency Level |
Trigger |
Response Time |
Actions |
| Level 1 |
Price deviation 2-3% |
15 minutes |
Enhanced monitoring |
| Level 2 |
Price deviation 3-5% |
5 minutes |
Arbitrage activation |
| Level 3 |
Price deviation >5% |
Immediate |
Emergency pause |
| Level 4 |
Smart contract exploit |
Immediate |
Full system shutdown |
