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fix image links (#57)
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jahabeebs authored Dec 14, 2023
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2 changes: 1 addition & 1 deletion docs/Borrowing.mdx
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Expand Up @@ -9,7 +9,7 @@ The first time you connect your wallet to the Open Dollar app you’ll be prompt

Click “Create a Vault” and select your collateral type and amount to deposit.

![](</img/Borrowing OD Image.png>)
<img src="./img/Borrowing OD Image.png" alt="Borrowing OD Image.png" />

Once you’ve created a vault, the amount of OD you can borrow depends on the Minimum Collateral Ratio (MCR) of your deposited assets.

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2 changes: 1 addition & 1 deletion docs/CollateralAuctions.mdx
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title: "Collateral\_Auctions"
---

![](</img/Collateral Auction Image.png>)
<img src="./img/Collateral Auction Image.png" alt="Collateral Auction Image" />

Collateral auctions are meant to sell collateral that was seized from a vault in exchange for OD. The OD that is received by an auction is burned.

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2 changes: 1 addition & 1 deletion docs/DebtAuctions.mdx
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title: "Debt\_Auctions"
---

![](</img/Debt Auction Image.png>)
<img src="./img/Debt Auction Image.png" alt="Debt Auction Image" />

Debt auctions mint and auction new ODG in exchange for OD. The OD that is received by an auction will be used to eliminate bad (uncovered) debt from the system.

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7 changes: 5 additions & 2 deletions docs/How-OD-Stays-Stable.mdx
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Expand Up @@ -6,15 +6,18 @@ If the price of OD deviates from its $1.00 peg, the PID Controller adjusts the r

The following are two scenarios and how this works:

![How OD Stays Stable](</img/How OD stays stable Image 1.png>)![](</img/How OD stays Stable Image 2.png>)
<img src="./img/How OD stays stable Image 1.png" alt="How OD stays stable Image 1" />
<img src="./img/How OD stays Stable Image 2.png" alt="How OD stays Stable Image 2" />

If the market price is greater than the redemption price, the redemption rate turns negative. A negative redemption rate lowers the redemption price.

Since OD is now cheaper inside the protocol compared to the market, borrowing power increases. Users are incentivized to borrow more OD and/or sell it at market price as an arbitrage opportunity. The increased sell pressure lowers the market price and the redemption price continues to lower until the market price reaches it.

Example: If the redemption price of OD decreases by 0.2%, users can leverage their collateral to borrow 0.2% more OD from Open Dollar. They then sell their OD at market price, earning a profit from the price deviation, and protecting themselves from a drop in the token’s value following the negative redemption rate.

![](</img/How OD stays Stable Image 3.png>)![](</img/How OD stays Stable Image 4.png>)
<img src="./img/How OD stays stable Image 3.png" alt="How OD stays stable Image 3" />

<img src="./img/How OD stays Stable Image 4.png" alt="How OD stays Stable Image 4" />

This process also works in reverse. If the market price of OD falls below the redemption price, the redemption rate turns positive. This increases the price of accumulated debt which causes users to buy more OD from secondary markets to pay it down. It also incentivizes them to buy more OD with the expectation that the market price will follow a similar trajectory to the redemption price.

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2 changes: 1 addition & 1 deletion docs/Liquidations.mdx
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Expand Up @@ -3,7 +3,7 @@ title: Liquidations
description: ''
---

![](</img/Liquidatons Image.png>)
<img src="./img/Liquidatons Image.png" alt="Liquidations" />

**Overview**

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4 changes: 2 additions & 2 deletions docs/NFT-Vaults-Overview.mdx
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Expand Up @@ -5,7 +5,7 @@ description: ''

Open Dollar NFT Vaults (NFVs) are a new primitive in DeFi and a unique feature of the Open Dollar protocol.

![](</img/NFT Vaults Overview Image.png>)
<img src="./img/NFT Vaults Overview Image.png" alt="NFT vaults Overview Image" />

These vaults are represented as NFTs, making each vault distinct and transferable. This feature marks a significant evolution from traditional CDPs. Unlike traditional CDPs, where ownership is tied to an account, Open Dollar uses NFVs, which associate ownership of the collateral to NFTs. By doing so, the debt is locked in the protocol, but its ownership is not.

Expand All @@ -17,7 +17,7 @@ These vaults are represented as NFTs, making each vault distinct and transferabl
* Composability and Cross-Chain Capability: Facilitates easy batch-transfers and asset ownership transfers, along with efficient cross-chain compatibility.
* Enhanced Visibility and Tracking: Integrates with wallet aggregators and portfolio trackers for dynamic pricing and updated insights.

![](</img/NFT vaults Features Image.png>)
<img src="./img/NFT vaults Features Image.png" alt="NFT vaults Features Image" />

## Benefits

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2 changes: 1 addition & 1 deletion docs/Open-Dollar-Protocol-Overview.mdx
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Expand Up @@ -5,7 +5,7 @@ description: ''

# Using Open Dollar

![](</img/Using Open Dollar Graphic.png>)
<img src="./img/Using Open Dollar Graphic.png" alt="Using Open Dollar Graphic" />

The Open Dollar platform allows you to easily borrow the OD stablecoin against your LST or other supported Arbitrum-native assets and create leveraged positions at low rates while retaining 100% of the yields of your deposited collateral.

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3 changes: 2 additions & 1 deletion docs/Surplus-Auctions.mdx
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title: Surplus Auctions
---

![](</img/Surplus Auction Image.png>)\
<img src="./img/Surplus Auction Image.png" alt="Surplus Auction Image" />

Surplus auctions sell OD that has accrued inside the protocol in exchange for ODG. The ODG that is received by an auction is burned.

**How do I bid?**
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