GitBook: [#162] edits to the docs

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Dafydd Durairaj 2021-12-28 20:09:43 +00:00 committed by gitbook-bot
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@ -4,6 +4,6 @@ Mango provides a single venue to lend, borrow, swap, and leverage trade cryptoas
* Earn interest on deposits 
* Cross-Margin / Cross-Collateralized
*  Decentralized
* Decentralized
Mango is built on Solana blockchain and utilizes Serum DEX for spot margin trading while perpetual futures are traded on Mango's own orderbook. Mango is governed by its MNGO token. 
Mango is built on Solana blockchain and utilizes Serum DEX for spot margin trading while perpetual futures are traded on Mango's own orderbook. Mango is governed by MNGO holders via the Mango DAO.

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# 💸 Funding
* funding is paid continuously and is automatically added to the user's `Unsettled Pnl`
* To see past funding earned, visit the Account page in the UI
Funding is computed continuously as a daily difference in the index price and current book price (current mid). The `UpdateFunding` instruction is called by the Keeper roughly every 5 seconds and so funding is paid out roughly every 5 seconds. The calculation is as follows:
```

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# ❤ Health Overview
* Collateral and positions values are summed to represent Health 
* Assets have different specifications that effect Health
* Collateral, borrows and perp position values are summed up to give the Health metric
* Each asset is weighted differently (Read: [Asset Specs](https://docs.mango.markets/mango/token-specs#asset-weights))
* Health is used to determine liquidations and new position eligibility
The health of an account is used to determine if one can open a new position or if one can be liquidated. There are two types of health, initial health used for opening new positions and maintenance health used for liquidations. They are both calculated as a weighted sum of the assets minus the liabilities but the maint. health uses slightly larger weights for assets and slightly smaller weights for the liabilities. Zero is used as the bright line for both i.e. if your init health falls below zero, you cannot open new positions and if your maint. health falls below zero you will be liquidated. They are calculated as follows:

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@ -17,4 +17,6 @@ Tick size is denominated in quote currency (USDC).
| RAY | 8 | 16 | 3.125 | 0.1 | 0.001 |
| FTT | 10 | 20 | 2.5 | 0.1 | 0.001 |
| ADA | 10 | 20 | 2.5 | 1 | 0.0001 |
| BNB | 10 | 20 | 2.5 | 0.001 | 0.1 |
| AVAX | 10 | 20 | 2.5 | 0.01 | 0.01 |

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# 🤝 Settle Pnl
In order to get USDC realized profits from unrealized profits on a perp contract, the trader must settle his profits by finding account(s) that have equivalent losses on the same contract and call the `SettlePnl` instruction on chain.
* Settling Pnl moves the profit or loss from the Perp market into the USDC token balance
* This has no impact on your open positions or health
* Warning: this can take up to 60 seconds to complete when using the feature on the UI!

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@ -21,7 +21,7 @@ Click the 'Deposit Governance Tokens' button.
A dialog will appear saying 'Deposit your tokens?' Click Deposit.
This will bring up a wallet approval step, for the entirety of your MNGO tokens in your account. This is a scary step.\
This will bring up a wallet approval step, for the entirety of your MNGO tokens in your account. This is a scary step, but it's safe--you can withdraw at any time.\
\
Your Deposited Tokens will appear in the Governance Tokens Panel. Your tokens are now on the governance contract and removed from your connected wallet. \