Council

1.“Once $BTBONDS are emitted, does the Council stop printing $BTFI until we are above peg again?”

Staking $BTSHAREs will give you $BTFI rewards when the price of $BTFI is above the peg (1 BTFI: 1 AURORA), but not when it is under the peg.

2. “What happens if I interact with the Council in any way?”

Any interaction with the Council will reset both timers. The exact epoch lengths will be determined before launch. Hypothetically, that's A-epochs to withdraw your $BTFI rewards, and B-epochs to unstake your $BTSHARE.

3. “Are the Council rewards pro-rated by time? I.e if I stake three hours before the end of an epoch vs five hours before the end of an epoch, do I get different rewards?”

No, it's determined by how much you have staked at the time of printing (i.e. end of one epoch and the start of the other). It doesn't matter if you stake 3 hours before or 30 seconds before the emissions occur.

4. "If I remove my $BTSHARE from Council without first collecting my $BTFI, will it be lost forever?"

No, it will still be there to collect whenever you need it.

5. "The Council APR dropped because we're in a 'debt phase.' What does this mean?"

A debt phase takes place on the expansion epochs that start after a contraction period where there are still $BTBOND to be redeemed.

65% of Expansion during the Debt Phase is allocated to the Treasury Fund to prepare for the $BTBOND Redemption. This amount is still reserved whether or not $BTBOND holders are redeeming bonds or not.

Once $BTFI in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.

6. "If we're in a debt phase, how long will it last until the Council continues printing as normal?"

The debt phase will last as long as is necessary to adequately pay back outstanding $BTBOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonuses when people redeem $BTBOND over the peg. There's no exact way of calculating how many epochs it takes since we don't know exactly when people will redeem their $BTBOND. If the debt phase is ended too early, and then the treasury doesn't have enough $BTFI to repay the $BTBOND bonus, then the APR restriction would need to be turned back on.

7. "At the end of the epoch, the Council did not print $BTFI, and then no $BTBOND(s) were issued. Why?"

There is a balanced state "at peg" when $BTFI's TWAP is between 1.00 and 1.01, and this means there is neither contraction nor inflation.

8. "If $BTFI continues climbing above the price of the peg, will that influence how long the debt epoch lasts?"

Depending on the price of $BTFI, the Council print will have to adjust to provide a buffer for any unclaimed $BTBOND. As the price of $BTFI climbs above the peg, more $BTFI needs to be distributed to the treasury to account for $BTBOND bonus redemption.