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

# Parameters

> Live table of every registry value, with the timelock queue when it is reachable.

Risk numbers live in `RiskRegistry`. Accounting logic does not.
This page is generated at build. Do not type these values by hand.

<Note>
  If an RPC is configured, values come from the live RiskRegistry. Otherwise they come from mock parameters and LaunchParams.sol.
</Note>

| Parameter                      | Value                                         | What it does                                                                    |
| ------------------------------ | --------------------------------------------- | ------------------------------------------------------------------------------- |
| Source                         | PARAMETERS.json and LaunchParams.sol (no RPC) | Where this build read the numbers.                                              |
| Reserve factor                 | 15%                                           | Slice of borrower interest that goes to the reserve before suppliers.           |
| Protocol liquidation fee share | 10%                                           | Slice of the liquidation discount that goes to the reserve, not the liquidator. |
| Auction window                 | 2 hours                                       | Time for the liquidation discount to ramp from 0 to the book maximum.           |
| Target health                  | 1.00                                          | Health a partial liquidation restores the account to.                           |
| Dust debt                      | 10 USDG                                       | Below this debt a liquidation closes the whole loan.                            |
| Live staleness                 | 3600s                                         | Oldest stock price the oracle accepts in LIVE.                                  |
| Loan staleness                 | 86400s                                        | Oldest USDG price the oracle accepts.                                           |
| Dark haircut                   | 200 bps                                       | Cut applied to Friday's close while the market is closed.                       |
| Max dark duration              | 280800s                                       | Longest a DARK price can be served before it reverts.                           |
| Corporate-action window        | 3600s                                         | Pause around a split or other corporate action.                                 |
| Sequencer grace                | 3600s                                         | Time after the sequencer returns before prices are trusted.                     |
| IRM kink                       | 90%                                           | Utilization where the borrow rate slope steepens.                               |
| IRM base rate                  | 1e10 / s                                      | Borrow rate at zero utilization, per second in WAD.                             |
| IRM slope below kink           | 2e10 / s                                      | Rate added per unit of utilization below the kink.                              |
| IRM slope above kink           | 8e10 / s                                      | Rate added per unit of utilization above the kink.                              |
| Timelock delay                 | 172800s                                       | Wait between scheduling and executing a registry change.                        |
| Issuer cap (id 1)              | 1,000,000,000 USDG (testnet)                  | Total USDG that can be borrowed against one issuer's stocks.                    |
| borrowingEnabled at deploy     | false                                         | Whether new books open with borrowing on.                                       |
| Reserve target                 | 5% of borrowed                                | Reserve size the FeeCollector fills before paying the treasury.                 |

## How a value changes

Every row above except the timelock delay and the reserve target is a `RiskRegistry` write. The registry owner is the [Timelock](/smart-contracts/timelock). A change is scheduled by the proposer, waits for the delay, and is executed by anyone. Nothing here changes the accounting in `Stockline`; the core reads the registry at the moment of each call.

The timelock delay is immutable on the deployed Timelock. The reserve target is a constant in [FeeCollector](/smart-contracts/fee-collector). Changing either means a new contract and a new registry write.

## Timelock queue

The timelock queue is not reachable in this build. Configure `ROBINHOOD_TESTNET_RPC` or `ROBINHOOD_MAINNET_RPC` to list scheduled operations from logs.

Per-book values are on [Books and tiers](/concepts/books-and-tiers). Who can call each setter is on [Access controls](/resources/access-controls).