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Fundraiser and Perpetual Futures: address Noah Prince's review - #200

Merged

mikemaccana merged 8 commits into

mainfrom

claude/jolly-sagan-u8rgr1

Oct 2, 2026

Merged

Fundraiser and Perpetual Futures: address Noah Prince's review#200
mikemaccana merged 8 commits into
mainfrom
claude/jolly-sagan-u8rgr1

Commits on Oct 1, 2026
- Fundraiser, perps: answer Noah Prince's review (prose, first pass)
  Mike MacCana
  committed
  7c248f7
- Fundraiser figures: match the rewritten chapter
  Mike MacCana
  committed
  78fd993
- Perps: name the initial margin and its link to maximum leverage
  Mike MacCana
  committed
  12f5f1a
- Perps: the pool averages the oracle price and trades only near the average
  Mike MacCana
  committed
  5c1efc7
- Perps figures: show the pool's average_price
  Mike MacCana
  committed
  e88cde9
- Perps: profit is a junior claim paid by haircut; an insurance fund before the LPs
  Mike MacCana
  committed
  3863b9b
- Perps figures: insurance_fund replaces reserved_liquidity; fees split
  Mike MacCana
  committed
  8338b60
Commits on Oct 2, 2026
- Merge main: keep the cap-free Fundraiser, fold in the Sybil boxout
  Mike MacCana
  committed
  6a15ee1