From 13934acb8295b34fcbb85cda01fd6d9be9c18f89 Mon Sep 17 00:00:00 2001
From: Riordan Panayides
- 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.
- 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.
- 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.
- 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.
@@ -66,11 +62,11 @@ const FAQS = [
- 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 .