Systems and methods for tokenized control of smart contracts

1. A method for automatically conducting a continuous forward rate agreement in a cryptocurrency using smart contracts, the smart contracts implemented by a plurality of nodes of a distributed ledger system, wherein each of the plurality of nodes is a computing device comprising at least one processor, the method comprising:

each of the plurality of nodes identifying a first cryptographically-derived address for accessing a first smart contract, controlled by a first autonomous Contract Account of the distributed ledger system, the first smart contract having a first cryptographically-derived borrower address associated therewith, the first smart contract having (i) a owed amount value initially based on an amount of cryptocurrency transferred to the first cryptographically-derived borrower address, (ii) a collateral value representing a value of a collateral object committed to the smart contract associated with the first cryptographically-derived borrower address, (iii) an interest rate query routine that periodically determines a first variable interest rate based at least on an extrinsic rate or an intrinsic rate;

each of the plurality of nodes identifying a second cryptographically-derived address for accessing a second smart contract, controlled by a second autonomous Contract Account of the distributed ledger system, the second smart contract having a first cryptographically-derived lender address associated therewith, the second smart contract having (i) a lender balance representing a lender amount of cryptocurrency associated with the first cryptographically-derived lender address, and (ii) a second interest rate query routine that periodically determines a second variable interest rate based at least on the extrinsic rate or the intrinsic rate;

each of the plurality of nodes deploying an obligation object, wherein the obligation object is a smart contract controlled by a third autonomous Contract Account of the distributed ledger system, and wherein deploying the obligation object comprises:

receiving a deploy request transaction from an Externally Owned Account;

creating the obligation object and determining a cryptographically-derived address for accessing the obligation object;

the obligation object querying the first smart contract at the first cryptographically-derived address to determine the collateral value;

the obligation object updating an internal state to reflect the collateral value in association with the first cryptographically-derived borrower address;

the obligation object querying the second smart contract at the second cryptographically-derived address to determine the lender balance;

the obligation object updating the internal state to reflect lender balance in association with the first cryptographically-derived lender address; and

the obligation object determining a predetermined interest rate associated with the obligation object; and

each of the plurality of nodes executing the obligation object, wherein executing the obligation object comprises:

the obligation object receiving at least one first payment transaction associated with the first cryptographically-derived borrower address;

the obligation object receiving at least one second payment transaction associated with the first cryptographically-derived lender address;

the obligation object updating the internal state to update the borrower balance based on the at least one first payment transaction and the at least one second payment transaction;

detecting a triggering event; and

in response to detection of the triggering event, the obligation object executing a subroutine comprising:

computing a lender return amount based on the lender balance in the internal state;

computing a borrower return amount based on the borrower balance in the internal state; and

sending, to the distributed ledger system, a cryptographically-signed transaction that is cryptographically-signed using a private key of the obligation object, the cryptographically-signed transaction releasing a cryptocurrency based on the lender return amount and the borrower return amount.

2. The method of claim 1 , wherein the lender amount is re-allocated by the obligation object between the first cryptographically-derived lender address and a second cryptographically-derived lender address according to a transaction cryptographically-signed by the first and the second cryptographically-derived lender addresses, respectively.

3. The method of claim 2 , wherein executing the obligation object further comprises:

the obligation object updating the internal state to reduce the lender return amount associated with the first cryptographically-derived lender address;

the obligation object sending a return transaction cryptographically-signed using a private key of the obligation object, releasing a subset of the lender return amount to a wallet at the first cryptographically-derived lender address; and

the obligation object receiving a secondary loan amount to replace the subset of the lender return amount, in a replacement transaction cryptographically signed by the second cryptographically-derived lender address.

4. The method of claim 1 , wherein the borrower balance is re-allocated by the obligation object between the first cryptographically-derived borrower address and a second cryptographically-derived borrower address according to a transaction cryptographically-signed by the first and second borrower cryptographically-derived addresses, respectively.

5. The method of claim 4 , wherein executing the obligation object further comprises the obligation object updating the internal state to reduce the borrower return amount associated with the first cryptographically-derived borrower address.

6. The method of claim 1 , wherein creating the obligation object further comprises querying an external server or smart contract to determine the predetermined interest rate.

7. The method of claim 1 , wherein the predetermined interest rate is fixed.

8. The method of claim 1 , wherein executing the obligation object further comprises:

determining that the extrinsic rate has decreased relative to the predetermined interest rate; and

increasing a proportion of the lender return amount to be allocated to the first cryptographically-derived lender address, based on the difference between the extrinsic rate and the predetermined interest rate.

9. The method of claim 8 , wherein increasing the proportion of the lender return amount to be allocated to the first cryptographically-derived lender address further comprises:

computing the proportion of the lender return amount;

invoking a partial liquidation function of the obligation object; and

receiving the proportion of the lender return amount in an escrow account.

10. The method of claim 1 , wherein executing the obligation object further comprises:

determining that the extrinsic rate has increased relative to the predetermined interest rate; and

increasing a proportion of the lender return amount to be allocated to the first cryptographically-derived borrower address, based on the difference between the extrinsic rate and the predetermined interest rate.

11. The method of claim 10 , further comprising transferring a portion of the lender return amount to the first smart contract to reduce the owed amount value.

12. The method of claim 1 , wherein detecting the triggering event comprises detecting that the collateral value is lower than the lender return amount.

13. The method of claim 1 , wherein detecting the triggering event comprises detecting that a term of the obligation object has elapsed.

14. The method of claim 1 , wherein the at least one first payment transaction is at least one borrower interest payment based on the first variable interest rate.

15. The method of claim 1 , wherein the at least one second payment transaction is at least one lender interest payment based on the second variable interest rate.

16. The method of claim 1 , wherein the at least one first payment transaction comprises a plurality of payments.

17. The method of claim 1 , wherein the cryptocurrency is based on a form of Dai.

18. The method of claim 17 , wherein the extrinsic rate is a Dai Savings Rate.

19. The method of claim 17 , wherein the extrinsic rate is based on a dividend rate.

20. The method of claim 1 , further comprising each of the plurality of nodes confirming a current state of the distributed ledger system in response to execution of the obligation object.

21. A non-transitory computer readable medium storing computer program code executable by a processor of at least one node of a distributed ledger system, the computer program code, when executed by the processor, causing the processor to perform steps for automatically conducting a continuous forward rate agreement in a cryptocurrency using smart contracts, the steps comprising:

identifying a first cryptographically-derived address for accessing a first smart contract, controlled by a first autonomous Contract Account of the distributed ledger system, the first smart contract having a first cryptographically-derived a first borrower address associated therewith, the first smart contract having (i) a owed amount value initially based on an amount of cryptocurrency transferred to the first cryptographically-derived borrower address, (ii) a collateral value representing a value of a collateral object committed to the smart contract associated with the first cryptographically-derived borrower address, (iii) an interest rate query routine that periodically determines a first variable interest rate based at least on an extrinsic rate or an intrinsic rate;

identifying a second cryptographically-derived address for accessing a second smart contract, controlled by a second autonomous Contract Account of the distributed ledger system, the second smart contract having a first cryptographically-derived lender address associated therewith, the second smart contract having (i) a lender balance representing a lender amount of cryptocurrency associated with the first cryptographically-derived lender address, and (ii) a second interest rate query routine that periodically determines a second variable interest rate based at least on the extrinsic rate or the intrinsic rate;

deploying an obligation object, wherein the obligation object is a smart contract controlled by a third autonomous Contract Account of the distributed ledger system, and wherein deploying the obligation object comprises:

receiving a deploy request transaction from an Externally Owned Account;

creating the obligation object and determining a cryptographically-derived address for accessing the obligation object;

the obligation object querying the first smart contract at the first cryptographically-derived address to determine the collateral value;

the obligation object updating an internal state to reflect on the collateral value in association with the first cryptographically-derived borrower address;

the obligation object querying the second smart contract at the second cryptographically-derived address to determine the lender balance;

the obligation object updating the internal state to reflect lender balance in association with the first cryptographically-derived lender address; and

the obligation object determining a predetermined interest rate associated with the obligation object; and

executing the obligation object, wherein executing the obligation object comprises:

the obligation object receiving at least one first payment transaction associated with the first cryptographically-derived borrower address;

the obligation object receiving at least one second payment transaction associated with the first cryptographically-derived lender address;

the obligation object updating the internal state to update the borrower balance based on the at least one first payment transaction and the at least one second payment transaction;

detecting a triggering event; and

in response to detection of the triggering event, the obligation object executing a subroutine comprising:

computing a lender return amount based on the lender balance in the internal state;

computing a borrower return amount based on the borrower balance in the internal state; and

sending, to the distributed ledger system, a cryptographically-signed transaction that is cryptographically-signed using a private key of the obligation object, the cryptographically-signed transaction releasing a cryptocurrency based on the lender return amount and the borrower return amount.