Cover capitalisation and sidebar positions

Author: rmelbardis

docs/rwi-vault/faqs.md

@@ -1,8 +1,12 @@
+---
+sidebar_position: 8.7
+---
+
 # FAQs
 
 ## Where does the yield come from?
 
-The Vault Operator generates returns by providing capital to carefully selected Insurance Partners. The RWI Vault is launched in partnership with [Re](https://re.xyz/). Re uses this capital to underwrite large portfolios of short-tailed mass market reinsurance business - auto, property, warranty and workers compensation.
+The Vault Operator generates returns by providing capital to carefully selected [Insurance Partners](insurance-partners.md). The RWI Vault is launched in partnership with [Re](https://re.xyz/). Re uses this capital to underwrite large portfolios of short-tailed mass market reinsurance business - auto, property, warranty and workers compensation.
 
 The typical timeline for release of reserves in these lines of business is 18-24 months.
 
@@ -42,9 +46,9 @@ The release of funds actively used as insurance reserves is subject to approval
 The RWIV tokens continue to accumulate at the Baseline Yield while placed in the withdrawal queue. There is also a secondary market pool available on Uniswap v3 for instant trading of RWIV.
 
 
-## What does the Nexus Mutual cover protect against?
+## What does the Nexus Mutual Cover protect against?
 
-The cover is designed to fully protect the Baseline Yield for depositors by covering against the risk of insufficient underlying insurance returns, process failure by the VO and Vault smart contract risk.
+The Baseline Yield Cover is designed to fully protect the Baseline Yield for depositors by covering against the risk of insufficient underlying insurance returns, process failure by the VO and Vault smart contract risk.
 
 The Baseline Yield Cover provided by Nexus Mutual pays out to the Vault Operator on a quarterly basis if the Vault does not achieve the Baseline Yield.
 
@@ -54,4 +58,4 @@ If the Vault’s [Net Asset Value](/yield-struicture/bonuses/nav-calculation.md)
 
 No. The Baseline Yield can be changed onchain by the Vault Operator with a 90-day delay from submitting the change.
 
-The Vault Operator benchmarks the yield by tracking the average of the 2- and 5-year treasury yields (the main drivers of mass-market insurance returns) plus a 2-3% spread. If there is a deviation of more than 1% from the previous average, the operator may change the Baseline Yield to ensure sustainability of returns. The VO also reserves the right to respond to other changing conditions.
+The Vault Operator benchmarks the yield by tracking the average of the 2- and 5-year US Treasury yields (the main drivers of mass-market insurance returns) plus a 2-3% spread. If there is a deviation of more than 1% from the previous average, the operator may change the Baseline Yield to ensure sustainability of returns. The VO also reserves the right to respond to other changing conditions.

docs/rwi-vault/overview.md

@@ -10,7 +10,7 @@ The Vault is deployed on Ethereum mainnet with infrastructure based on the ERC-7
 
 The [yield](yield-structure/yield-structure.md) earned by depositors consists of two components:
 
-- All deposits into the RWI Vault earn a fixed [Baseline Yield](yield-structure/baseline-yield/baseline-yield.md) that accrues programmatically over time and is protected by Nexus Mutual cover. The current Baseline Yield can be found on the app.
+- All deposits into the RWI Vault earn a fixed [Baseline Yield](yield-structure/baseline-yield/baseline-yield.md) that accrues programmatically over time and is protected by Nexus Mutual Cover. The current Baseline Yield can be found on the app.
 - Additional [bonuses](yield-structure/bonuses/bonuses.md) may be earned by locking deposits for longer periods, allowing depositors to participate in excess returns generated by the underlying insurance business.
 
 The RWI Vault is designed as a long-term, allocate-and-hold investment, targeting capital commitments of approximately 18–24 months. These timelines match typical insurance product cashflow emergence.
@@ -24,6 +24,6 @@ The Vault operations are managed by the Vault Operator (“VO”). The Vault Ope
 The RWI Vault is owned and operated by the members of Nexus Mutual and ties in with the Mutual in several ways:
 
 - Interaction with the Vault is available via the existing Nexus Mutual application
-- Nexus Mutual provides cover to protect the fixed Baseline Yield of the RWI Vault
+- Nexus Mutual provides Cover to protect the fixed Baseline Yield of the RWI Vault
 - The Mutual participates in excess returns via a profit share mechanism
 - As the ultimate owner of the Vault’s legal entity, the Mutual benefits from the residual operating margin of the Vault Operator (VO) after meeting all obligations.

docs/rwi-vault/risks.md

@@ -1,8 +1,12 @@
+---
+sidebar_position: 8.6
+---
+
 # Risks
 
 The RWI Vault is exposed to risks from both Ethereum blockchain infrastructure and institutional insurance exposure.
 
-A number of these risks are mitigated by the Vault Operator maintaining the Baseline Yield cover with Nexus Mutual. However, residual risks will continue to be present due to Nexus Mutual’s own risks and the systemic risks in both permissionless blockchains and the wider financial system.
+A number of these risks are mitigated by the Vault Operator maintaining the [Baseline Yield Cover](yield-structure/baseline-yield/nexus-mutual-cover.md) with Nexus Mutual. However, residual risks will continue to be present due to Nexus Mutual’s own risks and the systemic risks in both permissionless blockchains and the wider financial system.
 
 Below are some risks that should be considered ahead of interacting with the RWI Vault.
 
@@ -35,7 +39,7 @@ Depositors are strongly encouraged to use hardware wallets. The Vault Operator c
 
 The RWI Vault is designed as a long-term, allocate-and-hold investment targeting 18–24 month timelines, reflecting the release profile of insurance reserves.
 
-Withdrawals:
+[Withdrawals](withdrawals.md):
 
 - Are processed by the VO on a first-in, first-out basis
 - Are expected to take approximately 90 days in most cases
@@ -51,7 +55,7 @@ In adverse scenarios, related to insurance outcomes or otherwise, depositors may
 
 ## Insurance & Counterparty Risk
 
-Returns of the Vault are generated by allocating capital to regulated Insurance Partners underwriting short-tail insurance lines.
+Returns of the Vault are generated by allocating capital to regulated [Insurance Partners](insurance-partners.md) underwriting short-tail insurance lines.
 
 Risks include:
 
@@ -69,7 +73,7 @@ Nexus Mutual’s Baseline Yield Cover is designed to protect the Vault against i
 
 ## Baseline Yield Sustainability Risk
 
-All RWIV programmatically accrues a fixed Baseline Yield.
+All RWIV programmatically accrues a fixed [Baseline Yield](yield-structure/baseline-yield/baseline-yield.md).
 
 Risks include:
 
@@ -83,23 +87,23 @@ Future baseline rates may be lower than current rates.
 
 ## Nexus Mutual Cover Risk
 
-Returns at the level of the Baseline Yield are protected by Nexus Mutual cover.
+Returns at the level of the Baseline Yield are protected by [Nexus Mutual Cover](yield-structure/baseline-yield/nexus-mutual-cover.md).
 
 However, residual risks include:
 
 - Nexus Mutual claim assessment outcomes
 - Delays in claim processing
-- Capacity constraints in cover markets
+- Capacity constraints in Staking Pools backing the Cover
 - Smart contract, economic and governance risks within Nexus Mutual
 
-The cover is designed to make up shortfalls on a quarterly basis, but it does not eliminate all tail risk, particularly in systemic events affecting both the Vault and Nexus Mutual simultaneously.
+The Cover is designed to make up shortfalls on a quarterly basis, but it does not eliminate all tail risk, particularly in systemic events affecting both the Vault and Nexus Mutual simultaneously.
 
 ## Operational Risk (Vault Operator)
 
 The VO is responsible for:
 
 - Managing Insurance Partner allocations
-- Maintaining Nexus Mutual cover
+- Maintaining a sufficient amount of Nexus Mutual Baseline Yield Cover
 - Updating Vault parameters (e.g., Vault Cap, Baseline Yield)
 - Calculating NAV quarterly
 - Distributing bonuses
@@ -109,15 +113,15 @@ The VO team has significant DeFi and insurance experience, and has built operati
 - Possible offchain calculation errors
 - Transaction errors in operational multi-sig wallets
 - Misreporting or delayed reporting from Insurance Partners
-- Incorrect cover sizing or renewal timing
+- Incorrect Cover sizing or renewal timing
 - Key-person risk
 - Governance risk
 
 ## Bonus Risks
 
 Bonus distributions:
 
-- Depend on excess returns beyond Baseline Yield and cover costs
+- Depend on excess returns beyond Baseline Yield and Cover costs
 - Are calculated using offchain points calculations
 
 Risks include:

docs/rwi-vault/withdrawals.md

@@ -1,3 +1,7 @@
+---
+sidebar_position: 8.5
+---
+
 # Withdrawals
 
 Withdrawals of RWIV into USDC are requested via the app by calling <code>requestRedeem()</code>.

docs/rwi-vault/yield-structure/baseline-yield/nexus-mutual-cover.md

@@ -6,20 +6,20 @@ sidebar_position: 8.4.1.1
 
 The Nexus Mutual Baseline Yield Cover is designed to pay out in case the Vault is unable to meet the Baseline Yield.
 
-The cover protects the Vault Operator against any reason why the Vault wouldn’t be able to meet its liabilities, including:
+The Cover protects the Vault Operator against any reason why the Vault wouldn’t be able to meet its liabilities, including:
 * Technical and economic failures in the Vault smart contracts
 * Operational failures by the VO
 * Insufficient returns from the underlying insurance investments
 
 ## Cover Buying Process
 
-The VO is responsible for maintaining an appropriate level of Nexus Mutual cover to protect the Baseline Yield. The VO will interact with the Nexus Mutual protocol to buy, renew and edit covers on behalf of the Vault. 
+The VO is responsible for maintaining an appropriate level of Nexus Mutual Cover to protect the Baseline Yield. The VO will interact with the Nexus Mutual protocol to buy, renew and edit Cover on behalf of the Vault. 
 
-The cover amount is always the current total asset value in the Vault, rolled forward at the baseline yield to the expiry date. The expiry date is either:
+The Cover Amount is always the current total asset value in the Vault, rolled forward at the baseline yield to the expiry date. The expiry date is either:
 * the end of the current calendar quarter, or,
 * if fewer than 60 days remain to the end of the current calendar quarter, then the expiry date should be the end of the next calendar quarter.
 
-The VO aims to edit the cover as required within 2 business days of any changes to the Vault such as fresh deposits or filled withdrawal requests.
+The VO aims to edit the Cover as required within 2 business days of any changes to the Vault such as fresh deposits or filled withdrawal requests.
 
 ### Grant
 

docs/rwi-vault/yield-structure/bonuses/nav-calculation.md

@@ -29,7 +29,7 @@ Where:
 
 If NAV is **positive**, bonuses are distributed:
 - 60% to locked users in proportion to accumulated points
-- 20% to Nexus Mutual via profit sharing on the Baseline Yield cover
+- 20% to Nexus Mutual via profit sharing on the Baseline Yield Cover
 - 20% to the Vault Operator
 
 If NAV is **negative**, the VO submits a claim via Nexus Mutual Baseline Yield Cover
@@ -45,12 +45,12 @@ Calculated as <code>Cover Amount in USDC * Annual Cost of Cover * (Cover Days Re
 **Pre-funded Cover Fee Asset**
 
 The purpose of this item is to smooth out the impact on NAV of the NXM Grant used to pay early Baseline Yield Cover fees.
-For the first six quarters (Q1 - Q6) of operating the Vault, this asset is the cumulative total of the cover fees paid using the NXM grant, denominated in USDC at the time of each cover buy/edit.
+For the first six quarters (Q1 - Q6) of operating the Vault, this asset is the cumulative total of the cover fees paid using the NXM grant, denominated in USDC at the time of each Cover buy/edit.
 For the following six quarters (Q7 - Q12), the asset is released in a pattern that is a mirror image of the pattern that it was accumulated in.
 
 *Example:*
 
-The equivalent of 1000 USDC is paid in NXM as a Baseline Yield cover fee on day 100 of operating the Vault. The Pre-funded Cover Fee Asset increases by 1000 USDC instantly.
+The equivalent of 1000 USDC is paid in NXM as a Baseline Yield Cover fee on day 100 of operating the Vault. The Pre-funded Cover Fee Asset increases by 1000 USDC instantly.
 
 1000 USDC is then scheduled to be released from the Cover Fee Asset on <code>Release Day = 2 * Quarter Length * Number of Funding Quarters - Current Day = 992</code>
 

docs/rwi-vault/yield-structure/yield-structure.md

@@ -6,5 +6,5 @@ sidebar_position: 8.4
 
 There are two ways in which depositors can accrue yield:
 
-1. All deposits into the RWI Vault earn a fixed [Baseline Yield](baseline-yield/baseline-yield.md) that accrues programmatically over time and is protected by [Nexus Mutual cover](baseline-yield/nexus-mutual-cover.md).
+1. All deposits into the RWI Vault earn a fixed [Baseline Yield](baseline-yield/baseline-yield.md) that accrues programmatically over time and is protected by [Nexus Mutual Cover](baseline-yield/nexus-mutual-cover.md).
 2. Additional [bonuses](bonuses/bonuses.md) may be earned by locking deposits for longer periods, allowing depositors to participate in excess returns generated by the underlying insurance business.