From ddca995bf11f51b11ab0cafc2262727ab940c78f Mon Sep 17 00:00:00 2001
From: saml33 <slam.uke@gmail.com>
Date: Mon, 4 Mar 2024 11:51:53 +1100
Subject: [PATCH] more words

---
 components/HowItWorks.tsx | 57 ++++++++++++++++++++++++++++++++++++---
 1 file changed, 53 insertions(+), 4 deletions(-)

diff --git a/components/HowItWorks.tsx b/components/HowItWorks.tsx
index ed516ac..565ed85 100644
--- a/components/HowItWorks.tsx
+++ b/components/HowItWorks.tsx
@@ -3,7 +3,9 @@ const HowItWorks = () => {
     <div className="mt-6 rounded-lg border-2 border-th-fgd-1 bg-th-bkg-1 p-6">
       <h2 className="mb-1">Before you jump in</h2>
       <p className="mb-6 leading-relaxed">
-        Make sure you understand how Boost! works before risking any funds.
+        Boost! is high risk. Make sure you understand how it works before
+        risking any funds. Please refer to the <a>Boost! docs</a> for the full
+        technical details.
       </p>
       <h3 className="mb-1">The basics of JLP</h3>
       <p className="mb-3 leading-relaxed">
@@ -17,7 +19,7 @@ const HowItWorks = () => {
         all perp trading fees. This is automatically accrued in the price of JLP
         over time and is represented as an APR.
       </p>
-      <h3 className="mb-1">The basics of Boost!</h3>
+      <h3 className="mb-1">The basics of boosting JLP</h3>
       <p className="mb-3 leading-relaxed">
         Boost! offers a simple way to add leverage to your JLP position. It
         works by borrowing USDC against your deposited JLP and then swapping the
@@ -31,8 +33,55 @@ const HowItWorks = () => {
         yield you make a profit.
       </p>
       <h3 className="mb-1">Is boosting JLP always profitable?</h3>
-      <h3 className="mb-1">Fees</h3>
-      <h3 className="mb-1">Risks</h3>
+      <p className="mb-3 leading-relaxed">
+        No. For one, there is a real risk of liquidation. If the price of JLP
+        drops below your liquidation threshold you will lose some or all of your
+        JLP.
+      </p>
+      <p className="mb-3 leading-relaxed">
+        There are also fees and costs for borrowing USDC that will affect your
+        positions profitability.
+      </p>
+      <h4 className="mb-1">USDC Borrow Rate</h4>
+      <p className="mb-3 leading-relaxed">
+        This variable APR can change significantly and frequently depending on
+        the ratio or USDC deposits and borrows. It is charged continuosly on the
+        balance of your USDC borrow and paid to USDC depositors (lenders) on
+        Boost!.
+      </p>
+      <h4 className="mb-1">USDC Loan Origination Fee</h4>
+      <p className="mb-3 leading-relaxed">
+        This is a one-time, 50 basis points (0.5%) fee applied to the balance of
+        your USDC borrow and paid to Mango DAO.
+      </p>
+      <h4 className="mb-1">JLP Collateral Fee</h4>
+      <p className="mb-3 leading-relaxed">
+        This is charged on your JLP collateral as insurance in case JLP blows up
+        and can&apos;t be liquidated. It will reduce the size of your JLP
+        position over time. This fee accrues to Mango DAO.
+      </p>
+      <h4 className="mb-1">Position Entry Costs</h4>
+      <p className="mb-3 leading-relaxed">
+        When boosting JLP the USDC you borrow gets swapped via Jupiter to more
+        JLP. This can incur some slippage resulting in an entry price worse than
+        expected.
+      </p>
+      <p className="mb-6 leading-relaxed">
+        So, for boosting JLP to be profitable the extra yield needs to be
+        greater than these costs. It can also take some time for your position
+        to be in profit because of the upfront fees paid to borrow USDC.
+      </p>
+      <h3 className="mb-1">Boosting USDC</h3>
+      <p className="mb-3 leading-relaxed">
+        Boosting USDC is simply supplying it to the lending pool. Your USDC
+        balance will lent to JLP boosters and will continously earn the variable
+        interest rate.
+      </p>
+      <p className="mb-3 leading-relaxed">
+        There are no fees associated with lending USDC but there are risks. If
+        there was a catastrophic failure in JLP or Boost! you could lose all of
+        your funds.
+      </p>
     </div>
   )
 }