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Parameters

There is an explanation of the following parameters in Model Parameters.

A. Reserve Factor

η=10%\eta=10\%
η\eta
is the fraction of the total Variable Rate Pool supply selected as Liquidity Reserve.

B. Treasury Fee

λr=0%\lambda_r=0\%

C. Interest Rate Curves

WETH
DAI
USDC
WBTC
wstETH
Variable Rate Pools
AA
=
0.0200
0.0263
0.0236
0.0438
0.0249
BB
=
-0.0123
-0.0228
-0.0207
-0.0330
-0.0145
UmaxU_{max}
=
1.0132
1.0172
1.0194
1.0173
1.0165
Fixed Rate Pools
AA
=
0.3508
0.3617
0.3681
0.3468
0.3508
BB
=
-0.3440
-0.3591
-0.3643
-0.3417
-0.3440
UmaxU_{max}
=
1.0052
1.0015
1.0064
1.0003
1.0052

D. Risk Factors

WETH
DAI
USDC
WBTC
wstETH
ρ\rho
(borrow/lend)
0.8400
0.9000
0.9100
0.8500
0.8200

E. Variable Rate Pool Fee

δ=10%\delta=10\%
δ\delta
is the fraction of term-loan interests retained by the Variable Rate Pool upon leaving the Fixed Rate Pool.

F. Supply E.M.A. Parameters

βslow=0.0046\beta_{slow}=0.0046
Time decay parameter is used when the supply is above average.
βfast=0.4000\beta_{fast}=0.4000
Time decay parameter is used when the supply is below average.

G. Target Solvency Ratio

Γ=1.25\Gamma=1.25
Target solvency ratio after liquidation.

H. Liquidation Bonuses

νliquidator=5.00%\nu_{liquidator}=5.00\%
νbaddebt=0.25%\nu_{bad-debt}=0.25\%

I. Extraordinary Earnings Distribution Factor

ξextearn=2.00\xi_{extearn}=2.00

J. Penalty Rate

2.00%2.00\%
Daily penalty rate charged to late fixed repayments.