diff --git a/DEVELOPING.md b/DEVELOPING.md index 456e468..1668dfc 100644 --- a/DEVELOPING.md +++ b/DEVELOPING.md @@ -21,16 +21,8 @@ the [white paper], a high level overview of Dai. A reading of the [purple paper], the (in progress) detailed Dai technical specification and reference implementation is useful but not required. -XXX: include LL link? - -There is ongoing work to specify Sai (and Dai) using Linear Logic, -forming the [teal paper]. This is at a very early draft stage and is -provided for interest. Eventually, this work aims to allow formal -reasoning about system properties. - [white paper]: https://github.com/makerdao/docs/blob/master/Dai.md [purple paper]: https://makerdao.com/purple -[teal paper]: https://dapphub.github.io/LLsai/sai ### Note on memes @@ -58,20 +50,17 @@ Sai uses the following tokens: Sai has the following core components: -- `jar`: A token wrapper - `tub`: CDP record store - `tip`: target price feed - `tap`: liquidation mechanism - `top`: global settlement facilitator -TODO: jar, `pot` and `pit` vault info - TOOD: risk parameters -### `jar`: A Token Wrapper +### `skr`: A Token Wrapper -The `jar` is a token wrapper. +`skr` is a token wrapper. - `join`: deposit `gem` in return for `skr` - `exit`: claim `gem` with their `skr`. @@ -115,7 +104,7 @@ 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 `jar` and +`safe` aggregates price information from the `tip` 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 @@ -205,8 +194,8 @@ and increasing `per`, giving SKR holders more GEM per SKR. When there is surplus Woe, SKR is inflated, increasing the SKR supply and decreasing `per`, giving SKR holders less GEM per SKR. -The reason for wrapping GEM in the `jar` is now apparent: *it provides a -way to socialise losses and gains incurred in the operation of the system.* +The reason for wrapping GEM in SKR is now apparent: *it provides a way +to socialise losses and gains incurred in the operation of the system.* Two features of this mechanism: @@ -255,7 +244,7 @@ total unprocessed revenue, with varying `tax`, in constant time. ## Auth setup -ds-auth is used, with no owners (XXX: check) and two authorities: +ds-auth is used, with no owners and two authorities: 1. `dad`: ds-guard, used for internal authority @@ -289,15 +278,12 @@ Script output gist - `par`: ref per sai - `tag`: ref per skr - `pip`: ref per gem -- `price`: sai per gem - `fix`: gem per sai after `cage` -- `fit`: gem per skr after `cage` - +- `fit`: ref per skr after `cage` ### Meme Mnemonics - `pip`: trading pips -- `jar`: where collateral is kept - `tip`: target price tip-off - `cup`: small container for CDP info - `tub`: larger container for cups @@ -305,16 +291,15 @@ Script output gist - `top`: top-level system manager - `way`: which way the target price is heading -- `mat`: -- `hat`: -- `axe` -- `tax` -- `gap` - -- `air` -- `fog` -- `joy`: SKR holders are happy about this -- `woe`: SKR holders are sad about this - -- `pot`: -- `pit`: where to put unwanted things +- `hat`: upper limit of Sai issuance +- `mat`: lower limit of collateralisation +- `tax`: continually paid by CDP holders +- `axe`: penalty applied to bad CDP holders +- `gap`: gap between buy and sell + +- `pie`: Real collateral that SKR holders share +- `air`: Abstracted Collateral backing CDPs +- `ice`: Debt that is locked up with CDPs +- `fog`: Murky liquidated `air`that we want to get rid of +- `joy`: SKR holders are happy about this Sai surplus +- `woe`: SKR holders are sad about this Sin debt diff --git a/src/tip.sol b/src/tip.sol index 4f6c510..35a981d 100644 --- a/src/tip.sol +++ b/src/tip.sol @@ -1,4 +1,4 @@ -/// tip.sol -- target price feed +/// tip.sol -- target price feed (see `vox`) // Copyright (C) 2017 Nikolai Mushegian // Copyright (C) 2017 Daniel Brockman diff --git a/src/tub.sol b/src/tub.sol index 58c832d..f158d5e 100644 --- a/src/tub.sol +++ b/src/tub.sol @@ -36,7 +36,7 @@ contract SaiTub is DSThing, DSWarp, SaiTubEvents { bool public off; // Cage flag bool public out; // Post cage exit - uint256 public fit; // Gem per SKR (just before settlement) + uint256 public fit; // REF per SKR (just before settlement) uint64 public rho; // Time of last drip uint256 _chi; // Price of internal debt unit