[Parametrization] Target optimal Chicken In time

[bingen]

Considering values between 7 and 30 days.

If we make bonds too long, we could lose the more anxious degens, and in crypto time flies.

If we make them too short, we could lose users who cannot afford monitoring their bonds every day to not deviate too long from the optimal point.

System seems more robust and balanced with 1 month, although more activity, and therefore more permanent, is generated in the 1 week version.

:warning: EDIT: I realize that times here are for average currently pending bonds, which is half of the average Chicken In time.

~1 week~ 2 weeks

Chicken Bonds state
 - Pending LQTY:               0.00
 - Reserve LQTY:               444,184.19
 - Permanent (DEX) LQTY value: 26,105.30
 - bLQTY supply:               302,004.64
 - Backing ratio:              1.47

Fair price:      1.49
Accrual param:   0.000092
Rebond Time:     1,440.00
Chicken in Time: 1,440.00

bTKN AMM pool:

 - LQTY amount: 129,420.15
 - bLQTY amount: 87,647.44
 - Price LQTY/bLQTY: 0.67
 - Price bLQTY/LQTY: 1.43
 - LP tokens total supply 103,813.55
 - LQTY Fees: 1,101.60
 - bLQTY Fees: 866.20
 - LQTYbLQTY Fees: 6.98
 - AMM APR: -2.420%

Performance

 - Total permament:               26,105.30
 - Permament percentage:          5.551%

 - Rebonders avg gain: 4.275%
 - LPs avg gain:       9.563%
 - Sellers avg gain:   2.493%
 - Traders avg gain:   17.199%

 - Total LQTY:         1,133,024.15

~1 month~ 2 months

Chicken Bonds state
 - Pending LQTY:               24,880.52
 - Reserve LQTY:               337,049.10
 - Permanent (DEX) LQTY value: 17,369.56
 - bLQTY supply:               227,835.68
 - Backing ratio:              1.48

Fair price:      1.60
Accrual param:   0.000074
Rebond Time:     1,440.00
Chicken in Time: 1,440.00

bTKN AMM pool:

 - LQTY amount: 107,549.29
 - bLQTY amount: 69,825.98
 - Price LQTY/bLQTY: 0.64
 - Price bLQTY/LQTY: 1.48
 - LP tokens total supply 80,589.35
 - LQTY Fees: 3,162.43
 - bLQTY Fees: 2,340.74
 - LQTYbLQTY Fees: 4.79
 - AMM APR: 0.707%

Performance

 - Total permament:               17,369.56
 - Permament percentage:          4.579%

 - Rebonders avg gain: 1.997%
 - LPs avg gain:       9.882%
 - Sellers avg gain:   1.527%
 - Traders avg gain:   8.516%

 - Total LQTY:         1,078,417.98

[bingen]

It shouldn’t be shorter than initial bootstrap period, otherwise it would feel like we are forcing first users to chicken in suboptimally.

[bingen]

@danielattilasimon Is this formula for the initial accrual param right? https://github.com/liquity/ChickenBond/blob/main/modelling/ChickenBonds/lib/constants.py#L78

See also: https://docs.google.com/spreadsheets/d/128KLqzjtuFM1oXSg_njGoi4_-VfCtOe-7EItNbgCr2E/edit#gid=0