Update outdated/incorrect information in the user docs - #324
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michalinacienciala wants to merge 16 commits into
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Update outdated/incorrect information in the user docs#324michalinacienciala wants to merge 16 commits into
michalinacienciala wants to merge 16 commits into
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Addressing MEZ-4888 comment. The docs were mentioning that Mezo app does not support sending funds on Mezo using Bitcoin wallet, which is no longer true. The comment was removed and list of tasks possible to be performed by the Bitcoin wallets have been updated.
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Addresses MEZO-4888 finding. The advice relating to OKX wallet issues with seeing Mezo assets is no longer needed, the issues no longer occur. Removing the related sections.
Addresses a couple of items from MEZO-4891. The docs showed incomplete/incorrect information about minimum wihdrawable amounts for tokens. This commit fixes it.
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Addresses an item from MEZO-4891. When discussing withdrawal times we only mentioned the times that fit withdrawal times for bridging to Ethereum via Native bridge. Added info about typical withdrawal times for bridging to Bitcoin and bridging via Wormhole bridge.
Addresses several items from MEZO-4891. The Fee Structure docs section did not clarify that the presented fees apply only to the Native Bridge. The nomenclature used in the section also was different from the one we use in the dapp. Also, info about some fees was incorrect (outdated?) and presented examples were not mentioning some types of fees. This commit fixes those issues.
Addresses comment from MEZO-4891. The link to Threshold docs was outdated. Switched to the new link (although it does not mention the tBTC Bridge Maximum Network Fee (`redemptionTxMaxTotalFee`).
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Addresses some items from MEZO-4959 and MEZO-4903. In several places in the docs there were mentions of the exceptions in paying the redemption fee for users who are borrowers. Looking at the code, there are no such exceptions. Perhaps what the docs wanted to convey was the fact that when user uses the Repay option with the variant that keeps the LTV at the same level (which results in returning collateral to the user), no fee is charged for such operation. But this is not what we call redemption. In UI it's called Repay (and on the contract side, it's executed by calling the `adjustTrove` method).
Addresses two items from MEZO-4959. The information about the refinance fee percentage and about when the fee is applied was incorrect. The Refinance fee charged = `refinancingFeePercentage × borrowingRate × currentDebt`. The `borrowingRate` is the issuance fee (0.1%). The `refinancingFeePercentage` by default is 20%. The value can be changed by the governance (is capped at 100%), but so far hasn't been changed and is set to 20%. This means that the refinance fee is `20% × 0.1% × debt = 0.02% of debt`.\ The commit updates the fee definition and percentage.
Addresses an item from MEZO-4959. The first sentence of the Issuance Fee docs section could be interpreted as if Issuance fee was paid only on loan open. The payment of fee on borrow more was mentioned further in the paragraph, but could be easily missed when fast scanning the text. Added mention of the fee paid also when borrowing more to the first sentence of the paragraph.
Addresses an item from MEZO-4959. The gas deposit (liquidation fee deposit) is set to 200 MUSD. 1 MUSD is not always worth $1, so we should stick to expressing the deposit in MUSD.
Addresses an item from MEZO-4959. Explanation of the conditions for loan to qualify for redemption was incomplete.
Addresses an item from MEZO-4970. The Liquidations & Redemptions page was written when we only offered MUSD loans in the Mezo app. Now that we also support a Morpho protocol, we also have mUSDC loans that can be liquidated. But there are some differences in how liquidation works in Morpho. The doc wasn't reflecting those differences. As a quick fix we're changing the name of the doc to `MUSD Liquidations & Redemptions`, to indicate that the doc page appplies only to MUSD protocol.
Addresses several items of MEZO-4970. The description of MUSD loans redemptions that we had in the docs was inacurate, confusing and misformatted. Changed the text to explain the concept more precisely and acurately.
When dollar symbol was not escaped, the text sometimes rendered incorrectly.
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| ## Redemption Fees (0.75%) | ||
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| This fee is paid when exchanging MUSD for the BTC collateral. When a user has an outstanding loan, the redemption fee is zero. Users who do not have an outstanding MUSD loan must pay the 0.75% redemption fee. | ||
| This 0.75% fee is paid by the redeemer during redemption (operation of paying up someone else's MUSD debt in exchange for that borrower's BTC collateral). |
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Can we link to a section or page on redemptions rather than trying to summarize it in parentheses?
Instead of explaining what redemption does in the section about the redemption fee we now link to the part of the doc that explains this.
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References: MEZO-4888, MEZO-4891, MEZO-4959, MEZO-4903, MEZO-4970
This PR addresses some of the outdated/incorrect info present in the user documentation flagged during review of the docs (MEZO-4884). The PR does not address the propositions of improvements, better wording nor does it document features that were missing docs coverage. Instead it focuses mainly on the information that was already present and was factually incorrect.
Changes (see commit messages for justification of the edits):