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run-on-lido/stvaults/operational-and-management-guides/index.md

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@@ -10,6 +10,6 @@ Day-to-day guidance for running and maintaining stVaults safely, including healt
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- [Health Monitoring Guide](./health-monitoring-guide.md)
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- [Health Emergency Guide](./health-emergency-guide.md)
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- [Volunteering Rebalancing and Vault Closure](./volunteering-rebalancing-and-vault-closure.md)
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- [Voluntary Rebalancing and Vault Closure](./voluntary-rebalancing-and-vault-closure.md)
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- [stVaults Economy Examples](./stvaults-economy-examples.mdx)
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- [Identified Node Operators](./node-operators-identification.md)

run-on-lido/stvaults/operational-and-management-guides/stvaults-economy-examples.mdx

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@@ -32,7 +32,7 @@ These simplified models are designed to clearly highlight the key metrics and fa
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<div style={{display: 'flex', alignItems: 'baseline', gap: '0.25rem', margin: '0.25rem 0'}}>
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<span className="label"><strong>Node Operator Fee</strong></span>
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<span style={{flex: '1 1 auto', borderBottom: '1px dotted currentColor', opacity: 0.5, margin: '0 0.5rem'}}/>
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<span className="value"><strong> 0.096 ETH</strong></span>
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<span className="value"><strong>- 0.096 ETH</strong></span>
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</div>
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Set per stVault through consensus between the Vault Owner and the Node Operator.
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<div style={{display: 'flex', alignItems: 'baseline', gap: '0.25rem', margin: '0.25rem 0'}}>
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<span className="label"><strong>Lido Fee</strong></span>
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<span style={{flex: '1 1 auto', borderBottom: '1px dotted currentColor', opacity: 0.5, margin: '0 0.5rem'}}/>
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<span className="value"><strong> 0.1728 ETH</strong></span>
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<span className="value"><strong>- 0.1728 ETH</strong></span>
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</div>
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In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
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the equation:
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Lido Fee = 6% * 3.2% Lido Core Gross APR * 90 stETH = 0.1728 ETH;
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e.g., Lido v2 Gross APR ~ 3.2%.
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e.g., Lido Core Gross APR ~ 3.2%.
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<h4 style={{fontSize: '1.1rem', lineHeight: 1.45, margin: '0.75rem 0 0.25rem', fontWeight: 700}}>stETH Liability
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Growth</h4>
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The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
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rewards.
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To ensure the Staker’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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To ensure the Vault Owner’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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line with stETH’s rebasing mechanics.
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
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holder of stETH.
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e.g., stETH APR ~ 2.88%.
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<span style={{flex: '1 1 auto', borderBottom: '1px dotted currentColor', opacity: 0.5, margin: '0 0.5rem'}}/>
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<span className="value"><strong>- 0.1728 ETH</strong></span>
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</div>
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In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
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In this example, the annual Lido Fee approximately equals 6% of the Lido Core Gross APR and can be calculated by
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the equation:
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Lido Fee = 6% * 3.2% Lido Core Gross APR * 90 stETH = 0.1728 ETH;
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e.g., Lido v2 Gross APR ~ 3.2%.
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e.g., Lido Core Gross APR ~ 3.2%.
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<h4 style={{fontSize: '1.1rem', lineHeight: 1.45, margin: '0.75rem 0 0.25rem', fontWeight: 700}}>stETH Liability
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Growth</h4>
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</div>
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The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
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rewards.
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To ensure the Staker’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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To ensure the Vault Owner’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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line with stETH’s rebasing mechanics.
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
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holder of stETH.
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e.g., stETH APR ~ 2.88%.
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<span className="value">794.85 ETH;</span>
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</div>
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<div style={{display: 'flex', alignItems: 'baseline', gap: '0.25rem', margin: '0.25rem 0 1rem'}}>
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<span className="label">Staker Principal ETH:</span>
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<span className="label">Vault Owner's Principal ETH:</span>
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<span style={{flex: '1 1 auto', borderBottom: '1px dotted currentColor', opacity: 0.5, margin: '0 0.5rem'}}/>
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<span className="value">only the initial 100 ETH.</span>
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</div>
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<span style={{flex: '1 1 auto', borderBottom: '1px dotted currentColor', opacity: 0.5, margin: '0 0.5rem'}}/>
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<span className="value"><strong>- 1.6322 ETH</strong></span>
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</div>
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In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
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In this example, the annual Lido Fee approximately equals 6% of the Lido Core Gross APR and can be calculated by
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the equation:
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Lido Fee = 6% * 3.2% Lido Core Gross APR * 850.11 stETH = 1.6322 ETH;
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e.g., Lido v2 Gross APR ~ 3.2%.
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e.g., Lido Core Gross APR ~ 3.2%.
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<h4 style={{fontSize: '1.1rem', lineHeight: 1.45, margin: '0.75rem 0 0.25rem', fontWeight: 700}}>stETH Liability
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Growth</h4>
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</div>
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The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
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rewards.
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To ensure the Staker’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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To ensure the Vault Owner’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
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line with stETH’s rebasing mechanics.
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
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This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
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holder of stETH.
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e.g., stETH APR ~ 2.88%.
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### stETH Usage Outside the stVault
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The Staker used the minted stETH to loop through a lending market in order to amplify staking rewards.
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The Vault Owner used the minted stETH to loop through a lending market in order to amplify staking rewards.
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Additional income and expenses from the lending market:
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- **+ 24.4832 stETH** — rebase rewards from stETH used as collateral on the lending market
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- **+ 2.5503 stETH** — supply-side rewards from the lending market
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<span className="value"><strong>8.983%</strong></span>
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</div>
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Total APR is normalized to the Staker’s initial 100 ETH.
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Total APR is normalized to the Vault Owner’s initial 100 ETH.
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(!) Note: All lending market parameters are illustrative. Actual values depend on the specific product and prevailing
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market conditions. (!)

run-on-lido/stvaults/operational-and-management-guides/volunteering-rebalancing-and-vault-closure.md renamed to run-on-lido/stvaults/operational-and-management-guides/voluntary-rebalancing-and-vault-closure.md

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@@ -53,7 +53,7 @@ The standard way to reduce stETH Liability is to acquire stETH and repay it back
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`stETH to Repay = stETH Liability`
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For example stVault with 1000 ETH Total Value and 400 stETH minted: acquire and repay **400 stETH**.
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For example, an stVault with 1000 ETH Total Value and 400 stETH minted: acquire and repay **400 stETH**.
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After repaying, the stVault has 1,000 ETH with zero liability — all of it is withdrawable (once validators are exited and ETH is back in stVault balance, and a fresh Oracle report is applied to the stVault).
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