273 lines
11 KiB
XML
273 lines
11 KiB
XML
import { Disclosure } from '@headlessui/react'
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import { ChevronDownIcon } from '@heroicons/react/20/solid'
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const FAQS = [
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{
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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 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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{
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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 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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{
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question: 'What are the risks?',
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answer: (
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<>
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<p>
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The following risks are non-exhaustive. It's important to have a
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good understanding of these risks and how Boost! works before
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depositing any funds
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</p>
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<h4>Code</h4>
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<p>
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Boost! is an integration with the Mango v4 program. Although it is
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open source and has been audited extensively, it's possible bugs
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and exploits exist that could result in the loss of funds. It's
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also possible for a bug in the UI to affect the ability to open and
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close positions in a timely manner.
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</p>
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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 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 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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</p>
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<h4>Oracles</h4>
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<p>
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The price data for Boost! comes from third party oracle providers.
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It's possible for the data to be incorrect due to a failure with
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the oracle provider. This could result in bad liquidations and loss of
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funds.
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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 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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},
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{
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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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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 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 my Ledger not working with Boost!?',
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answer: (
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<p>
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If your Ledger isn't working it's most likely because it
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doesn't support versioned transactions.
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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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<p>
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Boost! is made and maintained by long-term contributors to{' '}
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<a
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href="https://dao.mango.markets"
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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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</a>
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.
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</p>
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),
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},
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]
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const FaqsPage = () => {
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return (
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<div className="rounded-2xl border-2 border-th-fgd-1 bg-th-bkg-1 p-6">
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<h1 className="mb-4">FAQs</h1>
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<div className="space-y-2">
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{/* <Disclosure key={'How does Boost! work?'}>
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{({ open }) => (
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<div>
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<Disclosure.Button
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className={`w-full rounded-xl border-2 border-th-bkg-3 px-4 py-3 text-left focus:outline-none ${
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open ? 'rounded-b-none border-b-0' : ''
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}`}
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>
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<div className="flex items-center justify-between">
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<p className="font-medium">{'How does Boost! work?'}</p>
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<ChevronDownIcon
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className={`${
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open ? 'rotate-180' : ''
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} h-6 w-6 shrink-0 text-th-fgd-1`}
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/>
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</div>
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</Disclosure.Button>
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<Disclosure.Panel className="space-y-2 rounded-xl rounded-t-none border-2 border-t-0 border-th-bkg-3 px-4 pb-3">
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<p>
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Leveraged staking with Boost! amplifies yields by recursively
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borrowing and lending between SOL and its supported tokens:
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mSOL, jitoSOL, bSOL, and stSOL. Users can deposit any of these
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tokens and then borrow SOL to enhance their returns.
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</p>
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<p>Example with jitoSOL:</p>
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<ul className="list-inside list-disc">
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<li>
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A user deposits jitoSOL into Mango's borrowing/lending
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program via Boost!.
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</li>
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<li>
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Boost! then leverages the deposited jitoSOL to borrow SOL,
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based on the user's desired leverage ratio on Mango.
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</li>
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<li>
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This process effectively increases the user's position
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size in jitoSOL, amplifying the base yield.
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</li>
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</ul>
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<p>
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When the returns from staking surpass the costs of borrowing,
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users enjoy a premium from this enhanced staking with Boost!.
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</p>
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</Disclosure.Panel>
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</div>
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)}
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</Disclosure>
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<Disclosure key={'What are the risks?'}>
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{({ open }) => (
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<div>
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<Disclosure.Button
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className={`w-full rounded-xl border-2 border-th-bkg-3 px-4 py-3 text-left focus:outline-none ${
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open ? 'rounded-b-none border-b-0' : ''
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}`}
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>
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<div className="flex items-center justify-between">
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<p className="font-medium">{'What are the risks?'}</p>
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<ChevronDownIcon
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className={`${
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open ? 'rotate-180' : ''
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} h-6 w-6 shrink-0 text-th-fgd-1`}
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/>
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</div>
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</Disclosure.Button>
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<Disclosure.Panel className="space-y-2 rounded-xl rounded-t-none border-2 border-t-0 border-th-bkg-3 px-4 pb-3">
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<ul className="list-inside list-disc">
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<li>
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There's a risk that tokens like mSOL, jitoSOL, bSOL, or
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stSOL may deviate significantly from the SOL price. If the
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token prices drop by 20% or SOL gains a premium of 18.5%,
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your position may face liquidation, particularly for high
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leverage positions. Deppegs, although infrequent, can occur
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due to market liquidity, pricing anomalies, or smart
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contract bugs.
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</li>
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<li>
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Liquidity pertains to quickly converting staked tokens into
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SOL without major price impact.
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</li>
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<li>
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The underlying liqduid staking tokens as well as Mango are
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susceptible to risks linked to smart contract flaws and UI
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mishaps, which might lead to unexpected results or fund
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losses.
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</li>
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<li>
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If your margin ratio falls below maintenance, you risk
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liquidation. A drop in staked asset value below the
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maintenance margin can result in partial or total sale of
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your collateral. Your liquidation ratio is displayed in the
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user interface.
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</li>
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<li>
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Mango depends on external oracles for pricing. Inaccuracies
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from these oracles, whether due to technical issues,
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manipulation, etc., can cause undesired liquidations,
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potentially causing losses.
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</li>
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<li>
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Instant SOL borrow interest payments contrast with token
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staking rewards paid every epoch (~2.5 days). Thus, users
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entering and exiting within these boundaries might pay
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interest without gaining staking rewards. It's vital to
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be familiar with{' '}
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<a href="https://docs.solana.com/cluster/stake-delegation-and-rewards">
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Solana staking mechanics
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</a>
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.
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</li>
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</ul>
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</Disclosure.Panel>
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</div>
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)}
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</Disclosure> */}
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{FAQS.map((faq) => {
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const { question, answer } = faq
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return (
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<Disclosure key={question}>
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{({ open }) => (
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<div>
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<Disclosure.Button
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className={`w-full rounded-xl border-2 border-th-bkg-3 px-4 py-3 text-left focus:outline-none ${
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open ? 'rounded-b-none border-b-0' : ''
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}`}
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>
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<div className="flex items-center justify-between">
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<p className="font-medium">{question}</p>
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<ChevronDownIcon
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className={`${
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open ? 'rotate-180' : 'rotate-360'
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} h-6 w-6 flex-shrink-0 text-th-fgd-1`}
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/>
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</div>
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</Disclosure.Button>
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<Disclosure.Panel className="space-y-2 rounded-xl rounded-t-none border-2 border-t-0 border-th-bkg-3 px-4 pb-3">
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{answer}
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</Disclosure.Panel>
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</div>
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)}
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</Disclosure>
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)
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})}
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</div>
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</div>
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)
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}
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export default FaqsPage
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