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3 changes: 1 addition & 2 deletions governance/governance-overview.md
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@@ -1,4 +1,3 @@
# Governance Overview

The OptyFi Protocol is a decentralized system owned and governed by the [OptyFi DAO](optyfi-dao.md) whose members are the community of [OPTY](../opty/opty-governance-token.md) token holders. All major decisions regarding the Protocol are made by the governance through a [voting process](voting.md#voting-process). Governance may elect to delegate the implementation of decisions and operational duties, and has the right to select/remove [Operators](operators.md) for this purpose.

The OptyFi Protocol is a decentralized system owned and governed by the [OptyFi DAO](optyfi-dao.md), whose members are the community of [OPTY](../opty/opty-governance-token.md) token holders. All major decisions regarding the Protocol are made by the governance through a [voting process](voting.md#voting-process). The governance may elect to delegate the implementation of decisions and operational duties, and has the right to select/remove [Operators](operators.md) for this purpose.
5 changes: 2 additions & 3 deletions governance/operators.md
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Expand Up @@ -4,7 +4,7 @@

For practical purposes, Governance shall delegate the implementation of Governance decisions and daily operational duties to Operators \(who may be individuals, corporate entities or decentralized organizations\).

There will be several Operators who may further sub-delegate duties but will remain responsible to Governance for these sub-delegated duties. They include the following:
There will be several Operators who may further sub-delegate duties while retaining responsibility over these. An overview of operations and duties is given here.

### Operator

Expand Down Expand Up @@ -41,5 +41,4 @@ The Risk Operator will be responsible for the following duties:

## **Selection and Replacement**

The Operators will be selected by Governance for a one year term through a normal proposal. During the term of the Operators, Governance may remove and replace any or all of them through a critical proposal.

The Operators will be selected by Governance for a one year term through a [normal proposal](voting.md#issues-by-proposal-category). During the term of the Operators, Governance may remove and replace any or all of them through a critical proposal.
5 changes: 2 additions & 3 deletions governance/optyfi-dao.md
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# OptyFi DAO

The OptyFi Protocol is a decentralized application owned and governed by a decentralized autonomous organization \(the “OptyFi DAO”\) whose members are the holders of the Protocol’s native OPTY token. OptyFi DAO members \(aka “Governance”\) are entitled to make all major decisions regarding the development and operation of the Protocol.
The OptyFi Protocol is a decentralized application owned and governed by a decentralized autonomous organization \(the “OptyFi DAO”\), whose members are the holders of the Protocol’s native OPTY token. OptyFi DAO members \(aka “Governance”\) are entitled to make all major decisions regarding the development and operation of the Protocol.

This document proposes an initial Governance System for the DAO including mechanisms for self-amendment under Governance authority. Upon launch of the Protocol and the initial OPTY token distribution event, Governance may choose to accept or amend this Governance System or implement a completely different governing model.
This document proposes an initial Governance system for the DAO including mechanisms for self-amendment under Governance authority. Upon launch of the Protocol and the initial OPTY token distribution event, Governance may choose to accept or amend this Governance system or implement a completely different governing model.

### Delegation

While Governance is entitled to make all major decisions regarding the development and operation of the Protocol, from a practical stand-point it is recognized that Governance may need to delegate responsibility for implementing \(some of\) these decisions and for performing daily operational duties. Specifically, Governance will delegate [Operators](operators.md) to implement Governance decisions and to operate the Protocol under guidelines determined by Governance.

2 changes: 1 addition & 1 deletion governance/treasury.md
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# Treasury

The protocol shall maintain one or more treasury accounts. Treasury funds usage will be decided by Governance.
The Protocol shall maintain one or more treasury accounts. Treasury funds usage will be decided by Governance.

\(Further details to be added\).

10 changes: 5 additions & 5 deletions governance/voting.md
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Expand Up @@ -6,12 +6,12 @@ Governance will participate in decision making through a proposal voting process

1. **Discussions**: The community may carry on discussions in the OptyFi Forums, including in the “Possible Proposals” section.
2. **"OIP" Proposal Creation**: If a particular discussion attracts significant interest, the Operator may create a formal OptyFi Improvement Proposal \(OIP\).
3. **OPTY Staking**: In order to participate in voting, OPTY holders will need to stake their OPTY. The length of time for which OPTY tokens are locked in the staking pools, will determine the [voting power](voting.md#voting-power) of the OPTY.
3. **OPTY Staking**: In order to participate in voting, OPTY holders will need to stake their OPTY. The length of time for which OPTY tokens are locked in the staking pools will determine the [voting power](voting.md#voting-power) of the OPTY.
4. **Voting**: Each OIP will be set to a Governance vote. Voting rules will be determined by the [proposal category](voting.md#issues-by-proposal-category).

## Voting Power

| Staking Pool Lock-In Period | Voting Power |
| **Staking Pool Lock-In Period** | **Voting Power** |
| :--- | :--- |
| None | 1 OPTY - 1 Vote |
| 3 Months | 1 OPTY - 2 Votes |
Expand All @@ -20,7 +20,7 @@ Governance will participate in decision making through a proposal voting process

## Voting Rules

| Proposal Category | Approval Threshold | Quorum |
| **Proposal Category** | **Approval Threshold** | **Quorum** |
| :--- | :--- | :--- |
| Normal | 50% | 5% |
| Critical | 75% | 5% |
Expand All @@ -30,8 +30,8 @@ Governance will participate in decision making through a proposal voting process
<table>
<thead>
<tr>
<th style="text-align:left">Proposal Category</th>
<th style="text-align:left">Issues</th>
<th style="text-align:left"><b>Proposal Category</b></th>
<th style="text-align:left"><b>Issues</b></th>
</tr>
</thead>
<tbody>
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4 changes: 2 additions & 2 deletions intro/how-optyfi-works.md
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Expand Up @@ -5,12 +5,12 @@ The OptyFi Protocol continuously monitors DeFi activity, predicting the yield of
The yield optimization model proceeds as follows:

1. **Dynamic Strategy Generation:** Strategies are dynamically composed based on the integrated protocols and blockchains.
2. **Optimization Engine:** Constantly monitors changing conditions across DeFi pools and scores the universe of possible strategies.
2. **Optimization Engine:** DeFi pools are constantly monitored, where the plethora of possible strategies are evaluated according to changing conditions.
3. **Strategy Execution Engine:** Smart contracts can execute any valid yield strategy \(across integrated protocols/blockchains\) while enforcing risk constraints.
4. **Automated Vaults:** Vault assets are automatically and continuously routed to the most optimal strategy.
5. **Modular Design:** Specialist vaults optimize a single type of asset providing optimal yield for a specific risk level. Portfolio vaults allocate assets across specialist vaults, diversifying risk and providing optimal asset allocation.

![OptyFi vault assets will be routed across multiple pools and protocols in real time.](../.gitbook/assets/how-it-works.svg)

Capital never stays idle with OptyFi.
By combining these elements into a working application, OptyFi ensures capital never remains idle.

11 changes: 5 additions & 6 deletions intro/join-the-community.md
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Expand Up @@ -2,17 +2,17 @@

The best way to get involved with OptyFi is to join our growing community of builders and users committed to risk-adjusted capital efficiency in DeFi. You can start by joining one or more of our community channels.

### [Forum](https://forum.opty.fi)
### [Discord](https://discord.gg/kVxKHUEpy8)

Join our forum for discussions on product development, feature requests, OPTY tokenomics, and other topics.
This is our most active community channel and the best place to learn and contribute to OptyFi.

### [Discord](https://discord.gg/kVxKHUEpy8)
### [Forum](https://forum.opty.fi)

This is our most active community channel and where you can learn and contribute the most to OptyFi.
Discuss product development, feature requests, OPTY tokenomics, and other topics by joining our Forum.

### [Twitter](https://twitter.com/optyfi)

Follow us on Twitter for announcements and updates.
Be the first to hear about announcements and updates by following us on Twitter.

### [Medium](https://medium.com/optyfi)

Expand All @@ -21,4 +21,3 @@ Enjoy and stay up-to-date with our in-house research and content by following ou
### [GitHub](https://github.com/opty-fi)

Review and contribute to our open-source code repository on GitHub.

2 changes: 1 addition & 1 deletion intro/welcome-to-optyfi.md
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Expand Up @@ -2,7 +2,7 @@

The OptyFi Protocol provides simplified access to optimized yield across DeFi.

The Protocol ****evaluates thousands of yield strategies across hundreds of liquidity pools, dozens of protocols and multiple blockchains. OptyFi optimizes capital as assets deposited into vaults are continuously deployed into the most profitable strategies based on predefined risk profiles and preferences.
The Protocol evaluates thousands of yield strategies across hundreds of liquidity pools, dozens of protocols and multiple blockchains. OptyFi optimizies capital investment gains by continuously deploying the assets deposited in the OptyFi vaults into the most profitable strategies. Strategies are determined based on predefined risk profiles and preferences.

This document aims to provide an overview of OptyFi including:

Expand Down
2 changes: 1 addition & 1 deletion intro/why-optyfi.md
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Expand Up @@ -4,7 +4,7 @@

Yield was the "killer application" that brought DeFi to the world's attention. But we are still at a very early stage.

The current status of DeFi yield consists of fragmented yield aggregation apps with hand-picked and inflexible yield strategies. Until DeFi is able to offer a user experience and technical sophistication comparable to TradFi, we will not achieve mainstream \(retail or institutional\) adoption.
The current status of DeFi yield consists of fragmented yield aggregation apps with hand-picked and inflexible yield strategies. Until DeFi is able to offer a user experience and technical sophistication comparable to TradFi, mainstream adoption \(retail or institutional\) will not be achieved.

OptyFi aims to deliver the user experience and technical sophistication of traditional asset management while preserving the ground-breaking advantages of decentralization.

Expand Down
6 changes: 3 additions & 3 deletions opty/adaptive-user-rewards-distribution.md
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Expand Up @@ -2,7 +2,7 @@

### **Asset Growth vs. OPTY Price**

Liquidity mining will distribute OPTY to incentivize users to retain assets in OptyFi vaults. Increased assets should increase the Protocol's value by expanding revenue base and realizing economic efficiencies of scale. However, excessive OPTY distribution can have a depressing effect on OPTY price, reducing the Protocol's market cap directly and also weakening the Protocol's ability to incentivize users and contributors. Thus, a balance needs to be struck between stimulating Protocol growth and supporting OPTY price.
Liquidity mining will distribute OPTY to incentivize users to retain assets in OptyFi vaults. Increased assets should increase the Protocol's value by expanding the revenue base and realizing economic efficiencies of scale. However, excessive OPTY distribution can have a depressing effect on OPTY price, reducing the Protocol's market cap directly and also weakening the Protocol's ability to incentivize users and contributors. Thus, a balance needs to be struck between stimulating Protocol growth and supporting OPTY price.

### **Optimization Parameters**

Expand All @@ -12,7 +12,7 @@ Instead of attempting to predict the optimal distribution rate, the Protocol wil

* **Reward Rate**: The rate at which User Reward tokens are issued globally across all vaults and staking pools.

| Reward Rate | OPTY Per Day | Depletion Time |
| **Reward Rate** | **OPTY Per Day** | **Depletion Time** |
| :--- | :--- | :--- |
| 0x | 0; Distribution Paused | Infinity |
| 1x | 50MM / 365\*5 = 27,397 | 5 Years |
Expand All @@ -25,7 +25,7 @@ Instead of attempting to predict the optimal distribution rate, the Protocol wil

### Community Analysis

The precise relationships between growth, value and price are not easy to determine and at the outset we will not have data to estimate these relationships. It is hoped that the community will undertake data driven analysis to inform Governance in deciding the values for above parameters.
The precise relationships between growth, value and price are not easy to determine during the early days of the Protocol. As more data becomes available, community driven data analyses will inform Governance on deciding the optimal values for above parameters.

For example, periodic \(e.g. weekly\) analysis could include the following data for the period:

Expand Down
7 changes: 2 additions & 5 deletions opty/liquidity-mining-and-staking.md
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# Liquidity Mining and Staking

To incentivize users to deposit and retain assets with OptyFi, the liquidity mining program will distribute OPTY tokens to OptyFi vaults, providing vault depositors with enhanced returns.
To incentivize users to deposit and retain assets with OptyFi, the liquidity mining program will distribute OPTY tokens to OptyFi vaults, further providing vault depositors with enhanced returns.

OPTY holders will be incentivized to stake OPTY into staking pools in order to earn more OPTY. There will be multiple staking pools each with a different "lock-in" period. Users who deposit into pools with longer lock-in periods, will receive a higher rate of return on their OPTY.
OPTY holders will be incentivized to stake OPTY into staking pools in order to earn more OPTY. There will be multiple staking pools featuring different "lock-in" periods. Pools with longer lock-in periods will return a higher rate of return on deposited OPTY than pools with shorter lock-in periods.

Additionally, as the OptyFi Protocol and community grows, new liquidity mining and staking mechanisms might be introduced.

~~~~

5 changes: 2 additions & 3 deletions opty/opty-governance-token.md
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Expand Up @@ -4,8 +4,7 @@ OPTY is the governance token for the OptyFi Protocol and OptyFi DAO. It derives

The value of the OptyFi Protocol, and therefore the OPTY token, will be increased in the following ways:

1. \*\*\*\*[**Users**](../protocol/participants.md#yield-users) deposit assets into OptyFi vaults, increasing the Protocol’s asset base and revenues. Increased assets improve economic efficiency and therefore Protocol profitability.
2. \*\*\*\*[**Builders**](../protocol/participants.md#builders) ****\(contributors\) enhance OptyFi by improving the Protocol's utility to users \(attracting more users and assets\) and increasing the Protocol's ability to generate above market returns. This results in increased revenues and profitability for the Protocol.
1. [**Users**](../protocol/participants.md#yield-users) deposit assets into OptyFi vaults, increasing the Protocol’s asset base and revenues. Increased assets improve economic efficiency and therefore Protocol profitability.
2. [**Builders**](../protocol/participants.md#builders) \(contributors\) enhance OptyFi by improving the Protocol's utility to users \(attracting more users and assets\) and increasing the Protocol's ability to generate above market returns. This results in increased revenues and profitability for the Protocol.

In a self-reinforcing cycle, the OPTY token is used as an incentivization mechanism for users and contributors. As users and contributors increase the Protocol’s value, they become its owners and accrue the benefits of the value they have helped create.

11 changes: 5 additions & 6 deletions opty/opty-tokenomics.md
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Expand Up @@ -6,21 +6,20 @@ The OPTY token has a total supply of 100,000,000 allocated as follows:

![OPTY Token Allocation.](../.gitbook/assets/opty-token-allocation-2.png)

| Category | Allocation | Distribution |
| **Category** | **Allocation** | **Distribution** |
| :--- | :--- | :--- |
| Team + Advisors | 28% | 18 Months. Starting in Month 6. |
| Investors | 3-10% | 12 Months. |
| User Rewards | 50% | 24 - 60 Months. |
| Builder Rewards | 10% | 24 - 60 Months. |
| Treasury/IDO | 2-9% | TBD |

**Team + Advisors \(28%\):** Tokens will be allocated to ****the Core Team and Advisors who helped develop and launch the OptyFI Protocol.
**Team + Advisors \(28%\):** Tokens will be allocated to the Core Team and Advisors who helped develop and launch the OptyFI Protocol.

**Investors \(3-10%\):** 3% of total supply is allocated to the friends and family investors who helped bootstrap development of the OptyFi Protocol. Should additional financing be necessary prior to launch, a maximum of 7% of total supply would be allocated to investors. Any portion of this category not allocated to investors would instead be re-allocated to the Protocol's Treasury/IDO \(see below\).
**Investors \(3-10%\):** 3% of the total supply is allocated to the investors who helped bootstrap development of the OptyFi Protocol. Should additional financing be necessary prior to launch, a maximum of 7% of the total supply would be allocated to investors. Any portion of this category not allocated to investors would instead be re-allocated to the Protocol's Treasury/IDO \(see below\).

**User Rewards \(50%\):** Tokens will be used to incentivize [Users](../protocol/participants.md#yield-users) to maintain assets in OptyFi vaults as well as to stake OPTY in OptyFi staking pools. The Protocol attempts to [optimize OPTY User Rewards distribution](adaptive-user-rewards-distribution.md) to achieve a balance between asset growth and Protocol value. This is accomplished by allowing Governance to set the rate at which OPTY tokens are distributed for User Rewards as well as the allocation of OPTY to the different OptyFi vaults and staking pools.
**User Rewards \(50%\):** Tokens will be used to incentivize both [Users](../protocol/participants.md#yield-users) who maintain assets in OptyFi vaults and stake OPTY in OptyFi staking pools. The Protocol attempts to [optimize OPTY's User Rewards distribution](adaptive-user-rewards-distribution.md) to achieve a balance between asset growth and Protocol value. This is accomplished by allowing Governance to set the rate at which OPTY tokens are distributed for User Rewards, and determine the allocation of OPTY to the different OptyFi vaults and staking pools.

**Builder Rewards \(10%\):** Tokens will be used to incentivize [Builders ](../protocol/participants.md#builders)\(integrators, strategists, risk analysts and data providers\) and other ecosystem contributors who will improve the utility of the OptyFi Protocol. Contributor rewards will be issued pursuant to approved Governance proposals or distributed by the Operators under discretion granted by Governance.
**Builder Rewards \(10%\):** Tokens will be used to incentivize [Builders ](../protocol/participants.md#builders)\(integrators, strategists, risk analysts and data providers\) and other ecosystem contributors who improve the utility of the OptyFi Protocol. Contributor rewards will be issued pursuant to approved Governance proposals or distributed by the Operators under discretion granted by Governance.

**Treasury/IDO \(2-9%\):** The treasury allocation will be used to fund the operations and administration of the Protocol. The treasury allocation may also be used towards an Initial DEX Offering \(IDO\).

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