updates

Author: jhodak

_includes/head.html

@@ -1 +1,2 @@
 <link href="/static/custom.css" rel="stylesheet" />
+<script src="/static/external-links.js"></script>

economics/monetization.md

@@ -4,7 +4,7 @@ order: 91
 label: "Monetization"
 ---
 
-Solvers price in a required fee for the protocol of 80 basis points (0.8%). This is in line with other protocols and platforms in the space.
+Solvers price in a required fee for the protocol of 90 basis points (0.9%). This is in line with other protocols and platforms in the space.
 
 - Opensea - 2.5% secondary - 10% primary drops
 - Uniswap - 0.05% stables - 0.30% on majors - 1% on most volatile

economics/risks.md

@@ -20,6 +20,8 @@ These include sequencer downtime, MEV, or any other bespoke risk to any layer 2
 Users, when repaying loans, must consider the liquidity of the market they are repaying into. If the Uni v3 pool is illiquid, slippage could eat up a large portion of repaid funds, leading to poor execution.
 ==-
 
+---
+
 ### Key Limitations
 
 ==- Users must be comfortable temporarily limiting upside in order to protect downside
@@ -42,3 +44,5 @@ Solvers may not be willing to quote the latest dog, frog, or memecoin.
 
 ==- Market impact upon sale of assets into DEX
 It's arguably better to have the market absorb this sale in good times rather than bad, however market impact is largely unavoidable, as it's inherently bearish to borrow against an asset.
+
+===

economics/swap-trade.md

@@ -8,16 +8,20 @@ Below is a step-by-step walkthrough of a sample trade using Votre.
 ### Trade Setup
 
 - Borrower: ABC Capital, a liquid token fund
-- Loan collateral: wstETH (~$2,000 per wstETH)
+- Loan collateral: wETH (~$2,000 per wETH)
 - Loan currency: USDC
 - Loan-to-value (LTV): 90%
 - Loan duration: 3 months
 - Votre protocol fee: 1%
 - Objective: Maximize return while avoiding liquidation risk
 
+---
+
 ### Why ABC Capital Uses Votre
 
-ABC Capital wants to borrow USDC without selling their wstETH holdings. Traditional lending platforms like AAVE expose them to liquidation risk. Instead, they use Votre to unlock capital without forced liquidation and while maintaining exposure to wstETH.
+ABC Capital wants to borrow USDC without selling their wETH holdings. Traditional lending platforms like AAVE expose them to liquidation risk. Instead, they use Votre to unlock capital without forced liquidation and while maintaining exposure to wETH.
+
+---
 
 ### Executing the Trade
 
@@ -36,27 +40,31 @@ ABC Capital visits votre.xyz, connects their wallet, and follows these steps:
 ##### 3. Onchain Offer Creation
 
 - JSR prepares an onchain Offer, posting 200 USDC in collateral to secure the trade. 4. Trade Execution
-- ABC Capital accepts the offer, depositing wstETH into Votre. 5. Collateral Swap & Loan Issuance
-- Votre swaps wstETH for USDC using Uniswap v3, accounting for slippage.
+- ABC Capital accepts the offer, depositing wETH into Votre. 5. Collateral Swap & Loan Issuance
+- Votre swaps wETH for USDC using Uniswap v3, accounting for slippage.
 - Loan funds are sent to ABC Capital, while collateral is locked for settlement.
 
+---
+
 ### Managing & Extending the Loan
 
-##### If wstETH Rises 7%
+##### If wETH Rises 7%
 
 - ABC Capital extends the loan to lock in gains.
 - JSR provides updated loan terms via Votre’s Offchain Intent Platform.
 - ABC Capital accepts the roll, adjusting the collateral to reflect new pricing.
 
-##### If wstETH Drops 30%
+##### If wETH Drops 30%
 
-- ABC Capital still believes in wstETH and wants to extend.
-- JSR offers new terms, requiring 0.29 wstETH to cover losses.
+- ABC Capital still believes in wETH and wants to extend.
+- JSR offers new terms, requiring 0.29 wETH to cover losses.
 - ABC Capital can:
 - Accept and post more collateral to extend the loan.
 - Wait until maturity, hoping for a price rebound.
 - Sell back part of the position to exit early.
 
+---
+
 ### At Maturity
 
 - When the loan reaches maturity, the marketmaker receives the USDC collateral if the asset price has dropped.

faq.md

@@ -31,16 +31,16 @@ Like any spread, it is a function of the number of providers. Votre will go live
 Because in bull markets it can be beneficial to take chips off the table or even redeploy borrowed collateral into a new position for greater capital efficiency. Users can also “roll” their positions higher as assets appreciate to maintain exposure so long as there is sufficient provider-provided liquidity.
 
 ==- How is the final price determined?
-Uniswap TWAP oracles
+Uniswap TWAP oracles.
 
 ==- What venues does the protocol swap on?
-Uniswap for now, but this may expand in the future as liquidity improves
+Uniswap for now, but this may expand in the future as liquidity improves.
 
 ==- Does swapping create slippage?
 Yes, but compared to interest rates and capital requirements of other protocols, this is minimal.
 
 ==- Does Votre charge interest?
-Since users are providing the collateral required for the directional hedge, there is no need to charge interest to source collateral or funds.
+Votre does not charge interest. However, If you use an escrow service, suppliers may charge interest.
 
 ==- What if a provider fails like in 2022?
 All provider collateral is locked into Votre’s smart contracts, so they'll only get money back at maturity once the final price of the asset is in. Additionally, both sides of a Votre position are represented as NFTs, which can be sold, traded, or united to unwind a position.
@@ -49,11 +49,14 @@ All provider collateral is locked into Votre’s smart contracts, so they'll onl
 Other protocols liquidate your collateral at the worst possible time. Votre creates a time-based, as opposed to a price-based loan.
 
 ==- Does swapping create a taxable event?
-Protocols can’t give tax advice, but this is an issue that is solved by a feature called “supplier mode”, which introduces suppliers to Votre. By escrowing user collateral day one and charging users interest, Votres may allow capital gains to be deferred in some jurisdictions. Speak to your tax professional for more information.
+Protocols can’t give tax advice, but this is an issue that is likely solved by using an escrow service, which introduces suppliers to Votre. By escrowing user collateral and charging users interest, Votres may allow capital gains to be deferred in some jurisdictions. Speak to your tax professional for more information.
 
 ==- But what if my token moons?
-If prices go up, [roll!](./loan/roll-loan.md) Rolling is like a checkpoint in a video game you can always fall back to. Think of it like going up the salmon ladder. There's certainly a cost to rolling, but there's a bigger cost to not having protection.
+If prices go up, [you can roll your loan!](./loan/roll-loan.md) Rolling is like a checkpoint in a video game you can always fall back to. Think of it like going up the salmon ladder. There's certainly a cost to rolling, but there's a bigger cost to not having protection.
+
+==- What is a supplier?
+A person usually with a large amount of tokens such as BTC or ETH, who wants to generate yield in the form of interest on their tokens.
 
 ==- Where do you get supply?
-From users who want to earn yield
+From suppliers who want to earn yield on their collateral (BTC, ETH, etc.).
 ===

legal/eligibility.md

@@ -3,7 +3,9 @@ order: 150
 label: "Eligibility"
 ---
 
-Collar is only available to and designed for sophisticated investors and non-US persons at this time.
+Collar is only available to and designed for sophisticated investors at this time.
+
+---
 
 **Non-US**
 
@@ -19,7 +21,9 @@ CFTC will interpret the term “U.S. person” generally to include, but not be
 (vii) any legal entity (other than a limited liability company, limited liability partnership or similar entity where all of the owners of the entity have limited liability) that is directly or indirectly majority-owned by one or more persons described in prong (i), (ii), (iii), (iv), or (v) and in which such person(s) bears unlimited responsibility for the obligations and liabilities of the legal entity; and
 (viii) any individual account or joint account (discretionary or not) where the beneficial owner (or one of the beneficial owners in the case of a joint account) is a person described in prong (i), (ii), (iii), (iv), (v), (vi), or (vii).
 –
-See Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations, 78 Fed. Reg. 45,292 (July 26, 2013), linked [here](https://www.federalregister.gov/documents/2013/07/26/2013-17958/interpretive-guidance-and-policy-statement-regarding-compliance-with-certain-swap-regulations).
+See [Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations, 78 Fed. Reg. 45,292 (July 26, 2013)](https://www.federalregister.gov/documents/2013/07/26/2013-17958/interpretive-guidance-and-policy-statement-regarding-compliance-with-certain-swap-regulations).
+
+---
 
 **US**
 
@@ -47,4 +51,4 @@ HNWIs and Institutions must be one of the below requirements in order to use Col
 10. a BD or AP of a BD
 11. a CTA
 
-For a more thorough definition please visit https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=7-USC-1679330354-1954888350&term_occur=999&term_src=
+For a more thorough definition please visit [this U.S. Code Definition](https://www.law.cornell.edu/definitions/uscode.php?width=840&height=800&iframe=true&def_id=7-USC-1679330354-1954888350&term_occur=999)

legal/kyc.md

@@ -1,22 +1,28 @@
 ---
-order: 140
+order: 400
 label: "Know Your Customer (KYC) Verification"
 ---
 
 ### Votre's Compliance with Financial Regulations
 
 Votre is committed to adhering to local anti-money laundering regulations as part of our robust financial compliance program. These regulations require us to verify your identity before granting full access to our services. We achieve this through our know-your-customer (KYC) program powered by [Persona](https://withpersona.com/), which is one of the initial steps when you sign up for a new account.
 
+---
+
 ### KYC Process
 
 The KYC process is designed to ensure the authenticity of our users and to prevent fraudulent activities. It involves a series of steps to verify your identity and comply with regulatory requirements.
 
+---
+
 ### KYC Verification Steps
 
 - **Document Upload**: Upload a valid government-issued ID (e.g., passport, driver's license, or national ID card).
 - **Selfie Verification**: Take a selfie to match against your ID document.
 - **Address Verification**: Provide your current address to verify your residency.
 
+![Votre KYC screen](/static/images/persona.png)
+
 !!! Troubleshooting
 
 For any questions or assistance, our support team is ready to help and answer any questions you may have. You can reach out to us on [discord](https://discord.gg/hYjBBSp4Q4).

loan/login.md

@@ -11,15 +11,27 @@ Welcome to Votre! Here's a quick guide to ensure a smooth and secure login exper
 
 We support various Web3 wallets for a seamless login experience. Choose your preferred wallet to authenticate securely.
 
+---
+
 ### Security
 
 Your login is protected with industry-standard encryption to ensure your data remains safe.
 
+---
+
+### Wallet Login
+
+Users can connect their wallets to log in to Votre.
+
+![Votre Login](/static/images/login.png)
+
+---
+
 ### KYC Compliance
 
 To comply with local anti-money laundering regulations, we verify your identity through our KYC program. This is a necessary step to gain full access to our services. For detailed information on the KYC process, please refer to the [KYC Verification page](/legal/kyc).
 
-![Votre login screen](/static/images/login.png)
+![Votre KYC screen](/static/images/persona.png)
 
 !!! Troubleshooting
 

protocol/architecture.md

@@ -9,7 +9,7 @@ label: "Architecture"
 
 Central configuration hub that manages protocol permissions and parameters. Handles contract authorization, protocol fees, valid parameter ranges, and emergency pause functionality.
 
-### CollarTakerNFT.sol & CollarProviderNFT.sol
+### CollarTakerNFT.sol & CollarProviderNFT.sol & EscrowSupplierNFT.sol
 
 Form the foundation of the protocol's collar positions:
 
@@ -25,6 +25,14 @@ Form the foundation of the protocol's collar positions:
 - Manages provider positions and protocol fees
 - Handles provider side position settlement by taker NFT, and provider withdrawals
 
+### EscrowSupplierNFT.sol
+
+Optional (for non-U.S. users) system for escrow-backed loans:
+
+- Manages escrow positions with fixed interest rates
+- Handles position lifecycle including late fees
+- Provides tax-efficient loan structure
+
 ### LoansNFT.sol
 
 Primary entry point for borrowers, offering collateralized loans through collar positions:
@@ -38,14 +46,6 @@ Primary entry point for borrowers, offering collateralized loans through collar
 5. Enables loan extensions through Rolls contracts
 6. Optionally supports escrow-backed loans
 
-### EscrowSupplierNFT.sol
-
-Optional system for escrow-backed loans:
-
-- Manages escrow positions with fixed interest rates
-- Handles position lifecycle including late fees
-- Provides tax-efficient loan structure
-
 ### Rolls.sol
 
 Enables extension of existing positions at new prices:

protocol/audits.md

@@ -5,3 +5,8 @@ label: "Audits"
 ---
 
 # Audits
+
+Completed audit information available for review:
+
+| Auditor | Link | Completed on: |
+| ------- | ---- | ------------- |