🗒️To-Do List [Notional]

fCash Valuation Curve: https://www.math3d.org/Y3CzPDxGu

fCash

• What & Why fCash? What is fCash and why do we need it?

  • What & Why fCash? fCash definition

  • fCash Use-case How you can use fCash to lend at a fixed rate

  • fCash Use-caseHow you can use fCash to borrow at a fixed rate

• fCash maturity What happens when fCash matures?

  • fCash maturity What happens with positive fCash

  • fCash maturity What happens with negative fCash

fCash Financials

• Understanding fCash financials

  • AMM & Lending Trade - How are exchange rates and interest rates related?

  • Valuing fCash How does interest accrue?

  • Lending Trade How do transaction fees work?

• Risks subject to the change in Rates Understanding interest rate risk

  • How does the value of fCash change as interest rates change?

  • How does time to maturity factor into interest rate risk?

  • How do changes in interest rates change the rate at which interest accrues on your fCash?

fCash Markets

• What are fCash markets and why do we need them?

  • AMM Structure of fCash market - cTokens, fCash, and the AMM curve

  • AMM Purpose of fCash market - to facilitate trades for end users at any time

  • Lending Trade What happens when someone trades on an fCash market - reserves change, interest rate changes

Liquidity Providers

• What are liquidity providers and why do we need them?

  • fCash markets need liquidity to function

  • What are liquidity tokens and how do you mint and redeem them?

• How providing liquidity works in detail

  • Walk through the flow, including the part about holding a negative cash balance in the portfolio

• Net fCash positions

  • Show that trades can give the LP a net fCash position

• How do liquidity providers make money?

  • Earn interest on cTokens + transaction fees

  • Net fCash position interest

  • Net fCash position duration risk

• What risks do liquidity providers take?

  • How can liquidity providers lose money?

nTokens

• What are nTokens and why do we need them?

  • Difficulties of LP tokens. Requiring LPs to choose and manage maturities places a lot of burden on them.

  • Quick overview of how nTokens work and how it improves LP experience.

• nToken mechanics in detail

  • Walk through what happens when someone mints

  • Walk through what happens when someone redeems

  • Walk through what happens at quarterly rolls (at a high level, no talk of residuals)

• Net fCash positions

  • Show that the nToken can develop different net fCash positions at different maturities

• How do nToken holders make money

  • Earn interest on cTokens + transaction fees

  • Net fCash position interest

  • Net fCash position duration risk

• What risks do nToken holders take?

  • How can nToken holders lose money?

Leveraged Vaults

• What are leveraged vaults and why do we need them?

  • Leveraged vaults allow users to get leverage on DeFi yield strategies

  • Overview of how leveraged vaults work

• Leveraged vault mechanics in detail

  • What happens when you enter

  • What happens when you exit

  • What happens when you roll

• Collateralization and liquidation

  • How does collateralization work?

  • How does liquidation work?