From f05edea050471dd2cf67a5e06fdbe6b7f3033da4 Mon Sep 17 00:00:00 2001 From: pedro-explore <86209013+pedro-explore@users.noreply.github.com> Date: Wed, 14 Jul 2021 16:48:44 -0400 Subject: [PATCH 1/4] Update modify-anc-parameters.md --- protocol/anchor-governance/modify-anc-parameters.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/protocol/anchor-governance/modify-anc-parameters.md b/protocol/anchor-governance/modify-anc-parameters.md index 24f5692..3822faf 100644 --- a/protocol/anchor-governance/modify-anc-parameters.md +++ b/protocol/anchor-governance/modify-anc-parameters.md @@ -8,14 +8,14 @@ The **Modify ANC Parameters** poll enables users to submit governance polls that `Epoch Period` is the the minimum time delay required between subsidization events, which handle reward claiming of bAsset collaterals, direct deposit rate subsidization, and readjusting the ANC emission rate based on the current deposit rate. -The `ANC Purchase Factor` determines the portion of bAsset rewards and collateral liquidation fees \(bid fee\) that is used to purchase ANC tokens. +The `ANC Purchase Factor` determines the portion of flow into the yield reserve (from bAsset rewards, liquidation fees \(bid fee\), and excess yield) that is used to purchase ANC tokens. `Staking Reward Factor` defines the portion of purchase ANC tokens that are distributed as staking rewards to stakers of ANC. | Parameter Name | Description | | :--- | :--- | | `Epoch Period` | Minimum time between operations for bAsset reward collection, deposit rate subsidization, and ANC emission rate adjustment | -| `ANC Purchase Factor` | Portion of bAsset rewards and collateral liquidation fees \(bid fee\) used to purchase ANC | +| `ANC Purchase Factor` | Portion of flow into the yield reserve used to purchase ANC | | `Staking Reward Factor` | Portion of purchased ANC distributed as staking rewards to ANC stakers | ## Genesis Values From 0dd5dfe6af196c217d0e8c5b9fa35a56b28866a2 Mon Sep 17 00:00:00 2001 From: pedro-explore <86209013+pedro-explore@users.noreply.github.com> Date: Wed, 14 Jul 2021 16:51:12 -0400 Subject: [PATCH 2/4] Update anchor-token-anc.md --- protocol/anchor-token-anc.md | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/protocol/anchor-token-anc.md b/protocol/anchor-token-anc.md index e649142..3a2ac61 100644 --- a/protocol/anchor-token-anc.md +++ b/protocol/anchor-token-anc.md @@ -24,19 +24,19 @@ ANC tokens generate a buying pressure that increases proportionally with Anchor' ### Protocol Fees -ANC captures protocol fees generated from Anchor, where 10% of value flowing into the yield reserve used for the value accrual of ANC tokens. Anchor's protocol fees are sourced from bAsset rewards, excess yield, and collateral liquidation fees. +ANC captures fees generated by Anchor Protocol. These fees are sourced from the flow into the yield reserve which comes from bAsset rewards, excess yield, and collateral liquidation fees. ANC Purchase Factor (currently 10%) of this value flowing into the yield reserve is used to purchase ANC tokens, which are then redistributed to ANC stakers. The ANC Purchase Factor can be adjusted through governance. #### bAsset Rewards -A portion of rewards from deposited bAsset collaterals are used to purchase ANC, with the remainder used to replenish the yield reserve. The ratio of bAsset rewards used for ANC purchases can be adjusted thorough governance if the yield reserve's inventory rises to a sufficient level. +Rewards from deposited bAsset collaterals are used to replenish the yield reserve. #### Excess Yield -Deposit yields in excess of the target deposit rate is accumulated to the yield reserve, with a portion used to purchase ANC. Purchased ANC tokens are then redistributed to ANC stakers. +DExcess yield over the target deposit rate, from borrower interest payments, is accumulated in the yield reserve. #### Collateral Liquidation Fees -Whenever a loan is liquidated, 1% of the liquidated collateral value is sent to the yield reserve, which a portion of which is used to purchase ANC. This fee is applied separate from [bid premiums](loan-liquidation.md#premium-rate). +Whenever a loan is liquidated, 1% of the liquidated collateral value is sent to the yield reserve. This fee is applied separate from [bid premiums](loan-liquidation.md#premium-rate). From 198b357a26e4032bcfda3fe149d3dd3607cec544 Mon Sep 17 00:00:00 2001 From: pedro-explore <86209013+pedro-explore@users.noreply.github.com> Date: Wed, 14 Jul 2021 16:52:44 -0400 Subject: [PATCH 3/4] Update anchor-token-anc.md --- protocol/anchor-token-anc.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/protocol/anchor-token-anc.md b/protocol/anchor-token-anc.md index 3a2ac61..5a2c1ca 100644 --- a/protocol/anchor-token-anc.md +++ b/protocol/anchor-token-anc.md @@ -24,7 +24,7 @@ ANC tokens generate a buying pressure that increases proportionally with Anchor' ### Protocol Fees -ANC captures fees generated by Anchor Protocol. These fees are sourced from the flow into the yield reserve which comes from bAsset rewards, excess yield, and collateral liquidation fees. ANC Purchase Factor (currently 10%) of this value flowing into the yield reserve is used to purchase ANC tokens, which are then redistributed to ANC stakers. The ANC Purchase Factor can be adjusted through governance. +ANC captures fees generated by Anchor Protocol. These fees are sourced from the flow into the yield reserve which comes from bAsset rewards, excess yield, and collateral liquidation fees. ANC `Purchase Factor` (currently 10%) of this value flowing into the yield reserve is used to purchase ANC tokens, which are then redistributed to ANC stakers. The ANC `Purchase Factor` can be adjusted through governance. #### bAsset Rewards From 9cf0868c2966f807d41530a2609d6825e4811ebc Mon Sep 17 00:00:00 2001 From: pedro-explore <86209013+pedro-explore@users.noreply.github.com> Date: Wed, 14 Jul 2021 16:54:03 -0400 Subject: [PATCH 4/4] Update anchor-token-anc.md --- protocol/anchor-token-anc.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/protocol/anchor-token-anc.md b/protocol/anchor-token-anc.md index 5a2c1ca..e2124eb 100644 --- a/protocol/anchor-token-anc.md +++ b/protocol/anchor-token-anc.md @@ -24,7 +24,7 @@ ANC tokens generate a buying pressure that increases proportionally with Anchor' ### Protocol Fees -ANC captures fees generated by Anchor Protocol. These fees are sourced from the flow into the yield reserve which comes from bAsset rewards, excess yield, and collateral liquidation fees. ANC `Purchase Factor` (currently 10%) of this value flowing into the yield reserve is used to purchase ANC tokens, which are then redistributed to ANC stakers. The ANC `Purchase Factor` can be adjusted through governance. +ANC captures fees generated by Anchor Protocol. These fees are sourced from the flow into the yield reserve which comes from bAsset rewards, excess yield, and collateral liquidation fees. `ANC Purchase Factor` (currently 10%) of this value flowing into the yield reserve is used to purchase ANC tokens, which are then redistributed to ANC stakers. The `ANC Purchase Factor` can be adjusted through governance. #### bAsset Rewards @@ -32,7 +32,7 @@ Rewards from deposited bAsset collaterals are used to replenish the yield reserv #### Excess Yield -DExcess yield over the target deposit rate, from borrower interest payments, is accumulated in the yield reserve. +Excess yield over the target deposit rate, from borrower interest payments, is accumulated in the yield reserve. #### Collateral Liquidation Fees