GitBook: [master] 2 pages modified

defi-incentives.md

@@ -1,12 +1,14 @@
 # DeFi Incentives
 
-## Can I become who I want to be?
+## Liquidity Mining, Transaction Mining, Yield Farming
 
-That's a tough question but thankfully, our team is on it. Please bear with us while we're investigating.
+Kicked off by [Compound in June 2020](https://compound.finance/governance/proposals/7), distributing governance tokens to users in order to incentivize adoption has become a staple of DeFi.
+
+* Liquidity Mining: Rewards to Liquidity Providers on DEXs, lending platforms proportional to the amount provided
+* Transaction Mining: Rewards to users making trades, taking out loans, etc.
+* Yield Farming: Chasing the best reward systems to get the highest returns
 
-## Have you had a chance to answer the previous question?
 
-Yes, after a few months we finally found the answer. Sadly, Mike is on vacations right now so I'm afraid we are not able to provide the answer at this point.
 
 
 

stable-coins/protocol-controlled-value.md

@@ -1,34 +1,20 @@
 # Protocol Controlled Value
 
-## Self-stabilizing, no collateral IOU
+## Buy stablecoin, deploy liquidity
 
-While most protocols offer rewards to keep your assets in their ecosystem, Protocol Controlled Value doesn't let you take it back -- directly, at least. When you buy the stablecoin from the protocol, the protocol deploys that asset you just gave it \(along with more of the stablecoin\) as liquidity in a secondary market \(DEX\).
-
-This means that when someone wants to buy more of the stablecoin, they can either go to the secondary market, or to the protocol itself, whichever is cheaper.
-
-If the price gets too high in the secondary market \(supply deficit\), reasonable people will buy the token direct from the protocol, which increases supply. If the stablecoin price gets too low in the secondary market \(supply surplus\), the protocol itself can correct this using a technique like:
-
-1. Remove its own liquidity from the pool
-2. Buy the surplus stablecoin from the remaining assets in the pool
-3. Redeploy its liquidity in equal parts
-4. Destroy \("burn"\) the excess tokens it just bought
-
-This may sound like a bad trade for the protocol. It is! But it provides price stability. But because the protocol _owns_ the value that backs it, it's also able to generate more value so it can afford to provide this service. 
-
-When you give the protocol assets to create the stablecoin, it can actually do more than just provide liquidity to the secondary market. It also can invest parts of it to generate income. How much and where to invest it is up to the governance community.
+While most protocols offer incentives to keep assets in their ecosystem, Protocol Controlled Value doesn't give you much of a choice. Once you buy the stablecoin, the only place you can exchange back is on secondary market exchanges \(DEXs and CEXs\). The protocols have systems in place eliminate surplus tokens \(much like how governments do\) to push the stablecoin back to its price peg.
 
 ## Pros
 
-* Don't have to worry about fleeing collateral if better rewards pop up \("Mercenary Capital"\)
+* Don't have to worry about fleeing capital if better rewards pop up \("Mercenary Capital"\)
 * Decentralized
-* Protocol can build value of controlled assets
-* Protocol stabilizes the price itself 
 
 ## Cons
 
 * Still needs to be proven in the market
+* Crypto-asset backing locked in liquidity pool forever
 
 ## Example
 
-* FEI \(has not been deployed at time of writing\) \([read the whitepaper!](https://fei.money/static/media/whitepaper.7d5e2986.pdf)\)
+* FEI \(has not been deployed at time of writing\) \([more info](https://medium.com/fei-protocol/introducing-fei-protocol-2db79bd7a82b)\)