From 13934acb8295b34fcbb85cda01fd6d9be9c18f89 Mon Sep 17 00:00:00 2001 From: Riordan Panayides Date: Sat, 24 Feb 2024 01:11:22 +0000 Subject: [PATCH] Update FAQ --- components/faqs/FaqsPage.tsx | 82 ++++++++++++++++++------------------ 1 file changed, 41 insertions(+), 41 deletions(-) diff --git a/components/faqs/FaqsPage.tsx b/components/faqs/FaqsPage.tsx index 65405ca..08914fd 100644 --- a/components/faqs/FaqsPage.tsx +++ b/components/faqs/FaqsPage.tsx @@ -6,12 +6,10 @@ const FAQS = [ question: 'How does Boost! work?', answer: (

- Boost! allows you to increase your position size by borrowing SOL and - swapping it to your chosen staking token. This means you earn more yield - from the staking token because you have a larger position size. As long - as this yield exceeds the rate of the SOL borrow you earn a premium and - because the staking token price downside is highly correlated to SOL - there is a lower risk of liquidation. + Boost! allows you to increase your position size by borrowing USDC and + swapping it into JLP. This means you earn more yield from the JLP pool + because you have a larger position size. As long as this yield exceeds + the rate of the USDC borrow you earn a premium.

), }, @@ -19,9 +17,9 @@ const FAQS = [ question: 'How does unboosting work?', answer: (

- Unboosting works by selling your staking token to repay your SOL borrow - and withdrawing to your wallet. The staking token price increases vs SOL - over time so the longer you hold the position the more yield you earn. + Unboosting works by selling your JLP tokens to repay your USDC borrow + and withdrawing to your wallet. The JLP price increases vs USDC over + time so the longer you hold the position the more yield you earn.

), }, @@ -42,20 +40,18 @@ const FAQS = [ also possible for a bug in the UI to affect the ability to open and close positions in a timely manner.

-

Price Depeg

+

Price Action

- It's possible for the staking token price to diverge - significantly from the SOL price. A large drop in price could result - in postions being liquidated. Positions with higher leverage are more - exposed to this risk. + It's possible for the price of JLP to fluctuate. A large drop in + price could result in postions being liquidated. Positions with higher + leverage are more exposed to this risk.

Liquidity

- Opening and closing positions on Boost! relies on swapping between the - staking tokens and SOL without significant price impact. During an - extreme market event there could be issues liquidating position - effectively. This could affect the liquidity available to open/close - positions. + Opening and closing positions on Boost! relies on swapping between JLP + and USDC without significant price impact. During an extreme market + event there could be issues liquidating position effectively. This + could affect the liquidity available to open/close positions.

Oracles

@@ -66,11 +62,11 @@ const FAQS = [

Yield Duration

- When you borrow SOL to open a position on Boost! you'll be paying - interest on the borrowed amount instantaneously. The staking rewards - of the staking tokens is paid on a longer duration. This means you - could open a position and close it before earning any staking rewards - whilst paying interest to borrow SOL. + When you borrow USDC to open a position on Boost! you'll be + paying interest on the borrowed amount instantaneously. The JLP yield + accrues over a longer duration. This means you could open a position + and close it before earning any staking rewards whilst paying interest + to borrow USDC.

), @@ -79,25 +75,29 @@ const FAQS = [ question: 'Where does the yield come from?', answer: (

- Every epoch the price of each staking token rises vs SOL. Boost! - increases the position size of your staking token by borrowing SOL. This - means you earn more of the staking reward every epoch. It's - important to account for the cost of borrowing SOL. This is displayed in - the UI. -

- ), - }, - { - question: 'Why is the max leverage different between tokens?', - answer: ( -

- The Mango v4 program has a safety mechanism that reduces the leverage - available to tokens depending on how much of that token is deposited. - When the notional value of deposits exceeds this value the leverage is - scaled down. + The JLP token earns a portion of the fees collected by the Jupiter + perpetuals exchange.{' '} + + Learn more about JLP here +

), }, + // { + // question: 'Why is the max leverage different between tokens?', + // answer: ( + //

+ // The Mango v4 program has a safety mechanism that reduces the leverage + // available to tokens depending on how much of that token is deposited. + // When the notional value of deposits exceeds this value the leverage is + // scaled down. + //

+ // ), + // }, { question: 'Why is my Ledger not working with Boost!?', answer: ( @@ -129,7 +129,7 @@ const FAQS = [ target="_blank" rel="noopener noreferrer" > - Mango Dao + Mango DAO .