Company
Date Published
Author
Chainlink
Word count
2126
Language
English
Hacker News points
None

Summary

Jasper and Tillman Degens developed Whiskey MarketMaker, a DeFi platform that enables small-batch whiskey distilleries to tokenize maturing whiskey bottles, allowing investors to purchase them while distilleries earn interest on ETH via an Aave pool. The platform was created for the 2021 ETHGlobal MarketMake Hackathon, leveraging Chainlink oracles to ensure accurate ETH/USD conversions for transactions. The Degens built a backend system using smart contracts to manage pricing and ownership of tokenized whiskey, addressing challenges like floating-point arithmetic in Solidity. By integrating the Chainlink ETH/USD Price Feed, they facilitated seamless USD-to-ETH conversions, ensuring distilleries receive the correct value while investors pay fair prices. This innovative approach bridges real-world assets with digital transactions, offering a model that could extend to other tokenized goods as cryptocurrency adoption grows.