Parameter

$Debt\ ratio = debt \div position\ value$

$Maximum\ leverage = max\ debt\ ratio \div (1 - max\ debt\ ratio）$

存款池

Name	Value	Description
Reserve pool rate	20%	Portion of borrower's interest to be stored in bank's reserve
Interest rate	[fund utilization rate, slope, corrected parameter][[50,80,100], [m0,m1,m2],[b0,b1,b2]]
BACK reward weight	[pool weight，borrower weight，lender weight]	BACK reward weight

USDT

Name	Value
Reserve pool rate	20%
Interest rate	[[80, 90, 100], [1250, 10000, 50000], [1000, -6000, -42000]]
BACK reward weight	[3500, 7500, 2500]

HUSD

Name	Value
Reserve pool rate	20%
Interest rate	[[80, 90, 100], [1250, 10000, 50000], [1000, -6000, -42000]]
BACK reward weight	[2000, 7500, 2500]

BTC

Name	Value
Reserve pool rate	20%
Interest rate	[[80, 90, 100], [625, 5000, 35000], [500, -3000, -30000]]
BACK reward weight	[1500, 5000, 5000]

ETH

Name	Value
Reserve pool rate	20%
Interest rate	[[80, 90, 100], [625, 5000, 35000], [500, -3000, -30000]]
BACK reward weight	[1500, 5000, 5000]

HT

Name	Value
Reserve pool rate	20%
Interest rate	[[80, 90, 100], [625, 5000, 35000],[500, -3000, -30000]]
BACK reward weight	[1500, 5000, 5000]

Pool-specific parameters

Name	Value	Description
max debt ratio	50~60% (depends on the pool)	Maximum debt ratio when opening/closing a position must satisfy
liquidation debt ratio	60~80% (depends on the pool)	Debt ratio threshold. If exceeded, anyone can liquidate the position.
liquidation discount	90%	Discount for the asset to be liquidated
swap fee	0~0.1%	0 for MDEX, and 0.1% for others
platform reward commission	10~30%	10~30% of the platform rewards (MDEX) from farming is used to repurchase BACK, half of which will be destroyed and half will be put into DAO

BTC/USDT

Name	Value
max debt ratio	60%
liquidation debt ratio	80%
liquidation discount	95%

ETH/USDT

Name	Value
max debt ratio	60%
liquidation debt ratio	80%
liquidation discount	95%

HT/USDT

Name	Value
max debt ratio	67%
liquidation debt ratio	85%
liquidation discount	95%

BTC/HT

Name	Value
max debt ratio	60%
liquidation debt ratio	80%
liquidation discount	95%

ETH/HT

Name	Value
max debt ratio	60%
liquidation debt ratio	80%
liquidation discount	95%

BTC/ETH

Name	Value
max debt ratio	60%
liquidation debt ratio	80%
liquidation discount	95%

We may adjust these parameters accordingly in the early stage. In the future, the control of these parameters will be transitioned to community governance, where BACK holders can propose and vote for any changes to these parameters.