Skip to content
New issue

Have a question about this project? Sign up for a free GitHub account to open an issue and contact its maintainers and the community.

By clicking “Sign up for GitHub”, you agree to our terms of service and privacy statement. We’ll occasionally send you account related emails.

Already on GitHub? Sign in to your account

Fix typos #131

Merged
merged 1 commit into from
Nov 6, 2023
Merged
Show file tree
Hide file tree
Changes from all commits
Commits
File filter

Filter by extension

Filter by extension

Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
2 changes: 1 addition & 1 deletion README.md
Original file line number Diff line number Diff line change
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).

Expand Down
6 changes: 3 additions & 3 deletions programs/liquidity-incentive-program/README.md
Original file line number Diff line number Diff line change
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**.

Expand Down
2 changes: 1 addition & 1 deletion todo.md
Original file line number Diff line number Diff line change
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.
Loading