diff --git a/protocol/0095-HVMR-high_volume_maker_rebate.md b/protocol/0095-HVMR-high_volume_maker_rebate.md index 564808b69..21e43dbb2 100644 --- a/protocol/0095-HVMR-high_volume_maker_rebate.md +++ b/protocol/0095-HVMR-high_volume_maker_rebate.md @@ -11,51 +11,7 @@ Enabling or changing the terms of the program can be proposed via governance. As - `minimum_party_maker_volume_fraction`: the required `party_maker_volume_fraction` for a party to access this tier - `additional_maker_rebate`: the additional rebate factor (in percentage of `trade_value_for_fee_purposes`) a party at this tier will receive when they are the maker side of a trade - `end_of_program_timestamp`: the timestamp after which when the current epoch ends, the program will become inactive and benefits will be disabled. If this field is empty, the program runs indefinitely. -- `window_length`: the number of epochs over which to measure a party's cumulative maker volume. - - -## Calculation - -For each party, the network must track the maker volume they created in each epoch. - -At the start of an epoch the network should calculate each parties `party_maker_volume_fraction` by calculating what proportion of the maker volume over the last $m$ epochs a party made up (where m is the `window_length` set configured in the program), i.e. - -$$\text{partyMakerVolumeFraction} = \frac{\sum_{i=1}^{m}{V_i}_j}{\sum_{i=1}^{m}\sum_{j=1}^{n}{V_i}_j}$$ - -where: - -- ${V_i}_j$ is the maker volume of party `j` in epoch `i` - - -Each parties `additional_maker_rebate` is then fixed to the value in the highest tier they qualify for. A parties tier is defined as the highest tier for which their `party_maker_volume_fraction` is greater or equal to the tiers `minimum_party_maker_volume_fraction`. If a party does not qualify for any tier, their `additional_maker_rebate` is set to `0`. - -```pseudo -Given: - benefit_tiers=[ - { - "minimum_party_maker_volume_fraction": 0.1, - "additional_maker_rebate": 0.01, - }, - { - "minimum_party_maker_volume_fraction": 0.2, - "additional_maker_rebate": 0.02, - - }, - { - "minimum_party_maker_volume_fraction": 0.3, - "additional_maker_rebate": 0.03, - - }, - ] - -And: - party_maker_volume_fraction=0.23 - -Then: - additional_maker_rebate=0.02 -``` - -This `additional_maker_rebate` factor is then fixed for the duration of the next epoch. +- `window_length`: the number of epochs over which to average a party's `maker_volume_fraction` ## Application diff --git a/spellcheck.yaml b/spellcheck.yaml index e131996d5..dd46032a7 100644 --- a/spellcheck.yaml +++ b/spellcheck.yaml @@ -38,12 +38,6 @@ matrix: # Ignore hugo/jinja tags - open: '{{' close: '}}' - # Ignore display LaTeX formulas ($$ ... $$) - - open: '\$\$' - close: '\$\$' - # Ignore display LaTeX formulas ($$ ... $$) - - open: '\$' - close: '\$' - pyspelling.filters.markdown: null - pyspelling.filters.html: comments: false