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rainbreak committed Sep 16, 2017
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20 changes: 13 additions & 7 deletions DEVELOPING.md
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Expand Up @@ -36,8 +36,8 @@ Sai uses the following tokens:

Sai has the following core components:

- `vox`: target price feed
- `tub`: CDP record store
- `tip`: target price feed
- `tap`: liquidation mechanism
- `top`: global settlement facilitator

Expand Down Expand Up @@ -76,15 +76,22 @@ The reference price of `skr` is then given by the dynamic `tag`, e.g.
the price of SKR in USD.


### `tip`: Target Price Oracle
### `vox`: Target Price Feed

The `tip` is a simple oracle for the Sai *target price*, given in terms
of the reference unit, by `par`. For example, `par == 2` with USD as
the reference unit implies a target price of 2 USD per Sai.
The `vox` provides the Sai *target price*, given in terms of the
reference unit, by `par`. For example, `par == 2` with USD as the
reference unit implies a target price of 2 USD per Sai.

The target price can vary in time, at a rate given by `way`, which is
the multiplicative rate of change per second.

The `vox` is the same as that in Dai, but with the sensitivity, `how`,
set to zero. Adjustments to the target price are made by adjusting the
rate of change, `way`, directly with `coax`. In future Sai iterations,
`how` may be non-zero and `way` adjustments will then follow
automatically via the feedback mechanism. The `vox` component is subject
to ongoing economic modelling research.


### `tub`: CDP Record Engine

Expand All @@ -98,7 +105,7 @@ The `tub` is the CDP record system. An individual CDP is called a `cup`
It is crucial to know whether a CDP is well collateralised or not:
`safe(cup)` returns a boolean indicating this.

`safe` aggregates price information from the `tip` and the `tub` and
`safe` aggregates price information from the `vox` and the `tub` and
compares the reference value of a CDPs debt and collateral.

The following `tub` acts are not possible if they would transition a CDP
Expand Down Expand Up @@ -299,7 +306,6 @@ Script output gist
### Meme Mnemonics

- `pip`: trading pips
- `tip`: target price tip-off
- `cup`: small container for CDP info
- `tub`: larger container for cups
- `tap`: liquidity provider
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