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Merge pull request #131 from boulderuphillroller/fix-typos
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Fix typos
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jkbpvsc authored Nov 6, 2023
2 parents 5be684b + 754d4a6 commit ca05cbb
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2 changes: 1 addition & 1 deletion README.md
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Expand Up @@ -51,7 +51,7 @@ Key points:

## Verify

Marginfi can be veirified with Ellipsis Labs verifiable builds.
Marginfi can be verified with Ellipsis Labs verifiable builds.

Install the `solana-verify` tool [here](https://github.com/Ellipsis-Labs/solana-verifiable-build#installation).

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6 changes: 3 additions & 3 deletions programs/liquidity-incentive-program/README.md
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Expand Up @@ -42,13 +42,13 @@ Think of a `Campaign` as a marketing campaign:
* the type of asset to incentivize deposits for (e.g. $SOL)
* the lockup period that depositors' funds will be locked up for
* the maximum amount of user deposits allowed
* The maximum rewards to be paid out to users (together with the maximum amount of deposits allowed, this calculates the guarenteed fixed yield).
* The maximum rewards to be paid out to users (together with the maximum amount of deposits allowed, this calculates the guaranteed fixed yield).

> NOTE: LIP works off of the concept of a _minimum_ guarenteed yield, but depositors may earn higher yield if marginfi's native lender yield for the related asset exceeds the yield guarenteed by the `Campaign`. This is a win-win for depositors.
> NOTE: LIP works off of the concept of a _minimum_ guaranteed yield, but depositors may earn higher yield if marginfi's native lender yield for the related asset exceeds the yield guaranteed by the `Campaign`. This is a win-win for depositors.
3. As a proof of reward reserves, campaign creators **lock up maximum rewards to be paid out upon campaign creation**, making it easy for campaign depositors to know the source of yield.

4. In product UIs, each `Campaign` typically highlights a fixed `APY`, but there is no compounding involved in the guarenteed yield. Since `APY` accounts for compounding effects even if there are none, measuring yield in `APY` gives depositors the correct impression that they should expect the yield they see. In the smart contract, yield is specified via the `max_rewards` parameter of each `Campaign`.
4. In product UIs, each `Campaign` typically highlights a fixed `APY`, but there is no compounding involved in the guaranteed yield. Since `APY` accounts for compounding effects even if there are none, measuring yield in `APY` gives depositors the correct impression that they should expect the yield they see. In the smart contract, yield is specified via the `max_rewards` parameter of each `Campaign`.

5. When users deposit funds into an LIP `Campaign`, funds are stored directly in `marginfi`. Funds earn `marginfi` lender yield. When lockups expire, depositors are paid `max(guarenteed yield, earned lender yield)` for the assets they deposited. As earned lender yield grows above `0%`, it subsidizes the expense that campaign creators pay out of the rewards they've escrowed. **This is a win-win for campaign creators**.

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2 changes: 1 addition & 1 deletion todo.md
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Expand Up @@ -41,4 +41,4 @@
* Jup TS Liquidator (good for alpha phase)
Good enough for alpha testing, need a more robust solution for full public mainnet.
* Live Mainnet Liquidator
Bigger project,should start right after alpha mainnet launch, after jup liquidator.
Bigger project, should start right after alpha mainnet launch, after jup liquidator.

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