@@ -32,7 +32,7 @@ These simplified models are designed to clearly highlight the key metrics and fa
3232 <div style = { {display: ' flex' , alignItems: ' baseline' , gap: ' 0.25rem' , margin: ' 0.25rem 0' }} >
3333 <span className = " label" ><strong >Node Operator Fee</strong ></span >
3434 <span style = { {flex: ' 1 1 auto' , borderBottom: ' 1px dotted currentColor' , opacity: 0.5 , margin: ' 0 0.5rem' }} />
35- <span className = " value" ><strong >– 0.096 ETH</strong ></span >
35+ <span className = " value" ><strong >- 0.096 ETH</strong ></span >
3636 </div >
3737
3838 Set per stVault through consensus between the Vault Owner and the Node Operator.
@@ -41,13 +41,13 @@ These simplified models are designed to clearly highlight the key metrics and fa
4141 <div style = { {display: ' flex' , alignItems: ' baseline' , gap: ' 0.25rem' , margin: ' 0.25rem 0' }} >
4242 <span className = " label" ><strong >Lido Fee</strong ></span >
4343 <span style = { {flex: ' 1 1 auto' , borderBottom: ' 1px dotted currentColor' , opacity: 0.5 , margin: ' 0 0.5rem' }} />
44- <span className = " value" ><strong >– 0.1728 ETH</strong ></span >
44+ <span className = " value" ><strong >- 0.1728 ETH</strong ></span >
4545 </div >
4646
4747 In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
4848 the equation:
4949 Lido Fee = 6% * 3.2% Lido Core Gross APR * 90 stETH = 0.1728 ETH;
50- e.g., Lido v2 Gross APR ~ 3.2%.
50+ e.g., Lido Core Gross APR ~ 3.2%.
5151
5252 <h4 style = { {fontSize: ' 1.1rem' , lineHeight: 1.45 , margin: ' 0.75rem 0 0.25rem' , fontWeight: 700 }} >stETH Liability
5353 Growth</h4 >
@@ -60,9 +60,9 @@ These simplified models are designed to clearly highlight the key metrics and fa
6060
6161 The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
6262 rewards.
63- To ensure the Staker ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
63+ To ensure the Vault Owner ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
6464 line with stETH’s rebasing mechanics.
65- This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
65+ This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
6666 holder of stETH.
6767 e.g., stETH APR ~ 2.88%.
6868
@@ -136,10 +136,10 @@ These simplified models are designed to clearly highlight the key metrics and fa
136136 <span style = { {flex: ' 1 1 auto' , borderBottom: ' 1px dotted currentColor' , opacity: 0.5 , margin: ' 0 0.5rem' }} />
137137 <span className = " value" ><strong >- 0.1728 ETH</strong ></span >
138138 </div >
139- In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
139+ In this example, the annual Lido Fee approximately equals 6% of the Lido Core Gross APR and can be calculated by
140140 the equation:
141141 Lido Fee = 6% * 3.2% Lido Core Gross APR * 90 stETH = 0.1728 ETH;
142- e.g., Lido v2 Gross APR ~ 3.2%.
142+ e.g., Lido Core Gross APR ~ 3.2%.
143143
144144 <h4 style = { {fontSize: ' 1.1rem' , lineHeight: 1.45 , margin: ' 0.75rem 0 0.25rem' , fontWeight: 700 }} >stETH Liability
145145 Growth</h4 >
@@ -151,9 +151,9 @@ These simplified models are designed to clearly highlight the key metrics and fa
151151 </div >
152152 The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
153153 rewards.
154- To ensure the Staker ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
154+ To ensure the Vault Owner ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
155155 line with stETH’s rebasing mechanics.
156- This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
156+ This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
157157 holder of stETH.
158158 e.g., stETH APR ~ 2.88%.
159159
@@ -229,7 +229,7 @@ These simplified models are designed to clearly highlight the key metrics and fa
229229 <span className = " value" >794.85 ETH;</span >
230230 </div >
231231 <div style = { {display: ' flex' , alignItems: ' baseline' , gap: ' 0.25rem' , margin: ' 0.25rem 0 1rem' }} >
232- <span className = " label" >Staker Principal ETH:</span >
232+ <span className = " label" >Vault Owner's Principal ETH:</span >
233233 <span style = { {flex: ' 1 1 auto' , borderBottom: ' 1px dotted currentColor' , opacity: 0.5 , margin: ' 0 0.5rem' }} />
234234 <span className = " value" >only the initial 100 ETH.</span >
235235 </div >
@@ -261,10 +261,10 @@ These simplified models are designed to clearly highlight the key metrics and fa
261261 <span style = { {flex: ' 1 1 auto' , borderBottom: ' 1px dotted currentColor' , opacity: 0.5 , margin: ' 0 0.5rem' }} />
262262 <span className = " value" ><strong >- 1.6322 ETH</strong ></span >
263263 </div >
264- In this example, the annual Lido Fee approximately equals to 6% of the Lido Core Gross APR and can be calculated by
264+ In this example, the annual Lido Fee approximately equals 6% of the Lido Core Gross APR and can be calculated by
265265 the equation:
266266 Lido Fee = 6% * 3.2% Lido Core Gross APR * 850.11 stETH = 1.6322 ETH;
267- e.g., Lido v2 Gross APR ~ 3.2%.
267+ e.g., Lido Core Gross APR ~ 3.2%.
268268
269269 <h4 style = { {fontSize: ' 1.1rem' , lineHeight: 1.45 , margin: ' 0.75rem 0 0.25rem' , fontWeight: 700 }} >stETH Liability
270270 Growth</h4 >
@@ -276,9 +276,9 @@ These simplified models are designed to clearly highlight the key metrics and fa
276276 </div >
277277 The stVault’s liquidity is provided in stETH, a rebasing token — its balance updates daily to reflect accrued staking
278278 rewards.
279- To ensure the Staker ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
279+ To ensure the Vault Owner ’s repayment amount is always accurately represented, the minted stETH liability adjusts daily in
280280 line with stETH’s rebasing mechanics.
281- This is primarily a technical adjustment, as the liability increase is offset by the rewards the Staker earns as a
281+ This is primarily a technical adjustment, as the liability increase is offset by the rewards the Vault Owner earns as a
282282 holder of stETH.
283283 e.g., stETH APR ~ 2.88%.
284284
@@ -300,7 +300,7 @@ These simplified models are designed to clearly highlight the key metrics and fa
300300
301301 ### stETH Usage Outside the stVault
302302
303- The Staker used the minted stETH to loop through a lending market in order to amplify staking rewards.
303+ The Vault Owner used the minted stETH to loop through a lending market in order to amplify staking rewards.
304304 Additional income and expenses from the lending market:
305305 - ** + 24.4832 stETH** — rebase rewards from stETH used as collateral on the lending market
306306 - ** + 2.5503 stETH** — supply-side rewards from the lending market
@@ -317,7 +317,7 @@ These simplified models are designed to clearly highlight the key metrics and fa
317317 <span className = " value" ><strong >8.983%</strong ></span >
318318 </div >
319319
320- Total APR is normalized to the Staker ’s initial 100 ETH.
320+ Total APR is normalized to the Vault Owner ’s initial 100 ETH.
321321
322322 (!) Note: All lending market parameters are illustrative. Actual values depend on the specific product and prevailing
323323 market conditions. (!)
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