> ## Documentation Index
> Fetch the complete documentation index at: https://docs.makx.io/llms.txt
> Use this file to discover all available pages before exploring further.

# System Parameters

> All configurable protocol parameters for MakxYieldPad and MakxYieldVault.

## MakxYieldPad parameters

All set via `configure()` or dedicated setters. Only the protocol owner can update these.

| Parameter                | Type      | Description                                                                              |
| ------------------------ | --------- | ---------------------------------------------------------------------------------------- |
| `feeRateBps`             | `uint16`  | Rental fee rate in BPS applied to `bondAmount` per time unit. Determines `feePerSecond`. |
| `interestRatePerSecond`  | `uint256` | WAD (1e18 = 100%/sec). Per-second interest rate on total bonded ETH, paid to vault.      |
| `minRentalDuration`      | `uint48`  | Minimum prepaid duration in seconds. Default: 2,592,000 (30 days).                       |
| `minBondAmount`          | `uint128` | Minimum ETH rentable per launch.                                                         |
| `maxBondAmount`          | `uint128` | Maximum ETH rentable per launch.                                                         |
| `gracePeriod`            | `uint24`  | Seconds before expiry when fee claims are blocked. Default: \~3 days.                    |
| `liquidationThreshold`   | `uint24`  | Seconds before expiry when liquidation opens. Must be ≤ `gracePeriod`. Default: \~1 day. |
| `maxHookFeeBps`          | `uint16`  | Maximum hook fee a creator can set on their pool.                                        |
| `adminFeeBps`            | `uint16`  | Protocol cut on hook fee claims (`claimFees`).                                           |
| `adminCollectLpFeeBps`   | `uint16`  | Protocol cut on LP fee collections (`collectLPFees`).                                    |
| `adminPayRentFeeBps`     | `uint16`  | Protocol cut on rent deposits (`depositRent`).                                           |
| `adminLiquidationFeeBps` | `uint16`  | Protocol cut on liquidation surplus ETH.                                                 |

***

## MakxYieldVault parameters

Set via `configure()` and `setFeeBps()`. Only the protocol owner can update these.

| Parameter            | Type      | Description                                                                                      |
| -------------------- | --------- | ------------------------------------------------------------------------------------------------ |
| `withdrawalCooldown` | `uint24`  | Seconds between `requestWithdrawal()` and `redeem()`. Prevents forced emergency LP liquidations. |
| `feeBps`             | `uint256` | Protocol fee in BPS on vault deposit and redeem. Maximum 1000 (10%).                             |

***

## Rental fee formula

`feeRateBps` translates to a per-second fee on `bondAmount`:

```
feePerSecond = bondAmount × feeRateBps / 10_000 / annualizedBasis
```

And `bondAmount` is derived from the rental payment:

```
bondAmount = rentalPayment / (feeRateBps × duration / 10_000)
```

***

## Interest rate conversion

`interestRatePerSecond` is WAD-scaled (1e18). To set a target APR:

```
interestRatePerSecond = APR_decimal × 1e18 / 31_536_000
```

Examples:

| APR | interestRatePerSecond (approx) |
| --- | ------------------------------ |
| 1%  | 317,097,919                    |
| 5%  | 1,585,489,600                  |
| 10% | 3,170,979,200                  |
| 20% | 6,341,958,397                  |

***

## Grace and liquidation window

The grace period and liquidation threshold define a two-stage warning system:

```
[Active] → [Grace Period] → [Liquidation Zone] → [Liquidated]
               ^                    ^
       prepaidUntil ≤           prepaidUntil ≤
       now + gracePeriod        now + liquidationThreshold
```

`liquidationThreshold` must always be ≤ `gracePeriod`. The protocol enforces this constraint in `configure()` and reverts with `InvalidGracePeriod` otherwise.

The gap between `gracePeriod` and `liquidationThreshold` gives the creator a window to extend rent after fee claims are blocked but before liquidation opens.