fixes to FAQ
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@ -6,12 +6,10 @@ const FAQS = [
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question: 'How does Boost! work?',
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answer: (
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<p>
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Boost! allows you to increase your position size by borrowing SOL and
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swapping it to your chosen staking token. This means you earn more yield
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from the staking token because you have a larger position size. As long
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as this yield exceeds the rate of the SOL borrow you earn a premium and
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because the staking token price downside is highly correlated to SOL
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there is a lower risk of liquidation.
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Boost! allows you to increase your position size by borrowing USDC and
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swapping it for JLP. This means you earn more yield
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from JLP due to a larger position size. As long
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as this yield exceeds the rate of the USDC borrow and collateral fees, you earn a premium.
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</p>
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),
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},
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@ -19,9 +17,8 @@ const FAQS = [
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question: 'How does unboosting work?',
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answer: (
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<p>
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Unboosting works by selling your staking token to repay your SOL borrow
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and withdrawing to your wallet. The staking token price increases vs SOL
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over time so the longer you hold the position the more yield you earn.
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Unboosting works by selling some of your JLP token to repay your USDC borrow
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and withdrawing to your wallet. If the JLP token price increases enough to cover your borrow fee and collateral fee, you will earn a higher APY over time.
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</p>
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),
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},
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@ -45,14 +42,14 @@ const FAQS = [
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<h4>Price Depeg</h4>
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<p>
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It's possible for the staking token price to diverge
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significantly from the SOL price. A large drop in price could result
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significantly from the USDC price. A large drop in price could result
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in postions being liquidated. Positions with higher leverage are more
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exposed to this risk.
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</p>
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<h4>Liquidity</h4>
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<p>
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Opening and closing positions on Boost! relies on swapping between the
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staking tokens and SOL without significant price impact. During an
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staking tokens and USDC without significant price impact. During an
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extreme market event there could be issues liquidating position
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effectively. This could affect the liquidity available to open/close
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positions.
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@ -66,11 +63,10 @@ const FAQS = [
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</p>
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<h4>Yield Duration</h4>
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<p>
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When you borrow SOL to open a position on Boost! you'll be paying
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interest on the borrowed amount instantaneously. The staking rewards
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of the staking tokens is paid on a longer duration. This means you
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could open a position and close it before earning any staking rewards
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whilst paying interest to borrow SOL.
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When you borrow USDC to open a position on Boost! you'll be paying
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an initial loan origination fee, interest on the borrowed amount, and a collateral fee instantaneously. This means you
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could open a position and close it before earning any additional yeild,
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whilst paying interest and collateral fees to borrow USDC.
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</p>
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</>
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),
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@ -79,25 +75,14 @@ const FAQS = [
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question: 'Where does the yield come from?',
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answer: (
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<p>
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Every epoch the price of each staking token rises vs SOL. Boost!
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increases the position size of your staking token by borrowing SOL. This
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The price of JLP vs USDC. JLP is a liquidity pool provider token composed of assets, trading fees and traders profits and losses. Boost!
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increases the position size of your staking token by borrowing USDC. This
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means you earn more of the staking reward every epoch. It's
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important to account for the cost of borrowing SOL. This is displayed in
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important to account for the cost of borrowing USDC. This is displayed in
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the UI.
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</p>
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),
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},
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{
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question: 'Why is the max leverage different between tokens?',
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answer: (
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<p>
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The Mango v4 program has a safety mechanism that reduces the leverage
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available to tokens depending on how much of that token is deposited.
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When the notional value of deposits exceeds this value the leverage is
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scaled down.
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</p>
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),
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},
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{
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question: 'Why is my Ledger not working with Boost!?',
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answer: (
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@ -107,18 +92,6 @@ const FAQS = [
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</p>
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),
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},
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{
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question: 'Is the contract audited?',
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answer: (
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<p>
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The Mango v4 program is fully audited by{' '}
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<a href="https://osec.io/" target="_blank" rel="noopener noreferrer">
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Ottersec
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</a>
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. Every update to the program also undergoes an audit before release.
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</p>
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),
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},
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{
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question: 'Who made Boost!?',
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answer: (
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@ -129,7 +102,7 @@ const FAQS = [
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target="_blank"
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rel="noopener noreferrer"
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>
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Mango Dao
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Mango DAO
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</a>
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.
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</p>
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