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0g-chain/x/hard/spec/05_params.md
Kevin Davis c5fc1c6b4f
Add hard and incentive spec updates (#817) 
* wip: update hard spec

* feat: updated hard spec

* feat: updated incentive spec
2021-02-19 17:14:48 +01:00

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Parameters

The hard module has the following parameters:

Key Type Example Description
MoneyMarkets array (MoneyMarket) [{see below}] array of params for each supported market
CheckLtvIndexCount int 6 Number of borrow positions to check for liquidation in each begin blocker

Each MoneyMarket has the following parameters

Key Type Example Description
Denom string "bnb" coin denom of the asset which can be deposited and borrowed
BorrowLimit BorrowLimit [{see below}] borrow limits applied to this money market
SpotMarketID string "bnb:usd" the market id which determines the price of the asset
ConversionFactor Int "6" conversion factor for one unit (ie BNB) to the smallest internal unit
InterestRateModel InterestRateModel [{see below}] Model which determines the prevailing interest rate per block
ReserveFactor Dec "0.01" Percentage of interest that is kept as protocol reserves
AuctionSize Int "1000000000" The maximum size of an individual auction
KeeperRewardPercentage Dec "0.02" Percentage of deposit rewarded to keeper who liquidates a position

Each BorrowLimit has the following parameters

Key Type Example Description
HasMaxLimit bool "true" boolean for if a maximum limit is in effect
MaximumLimit Dec "10000000.0" global maximum amount of coins that can be borrowed
LoanToValue Dec "0.5" the percentage amount of borrow power each unit of deposit accounts for

Each InterestRateModel has the following parameters

Key Type Example Description
BaseRateAPY Dec "0.0" the base rate of APY interest when borrows are zero.
BaseMultiplier Dec "0.01" the percentage rate at which the interest rate APY increases for each percentage increase in borrow utilization.
Kink Dec "0.5" the inflection point of utilization at which the BaseMultiplier no longer applies and the JumpMultiplier does.
JumpMultiplier Dec "0.5" same as BaseMultiplier, but only applied when utilization is above the Kink