[teiferer]

Mentioning what SOFR is would be incredibly useful.

Gemini: The Secured Overnight Financing Rate (SOFR) is a broad measure and benchmark interest rate for U.S. dollar-denominated loans and derivatives, reflecting the cost of borrowing cash overnight backed by Treasury securities.

[ihumanable]

The first sentence of the first section entitled "The Rate" reads as follows

> The rate tracks SOFR (the Secured Overnight Financing Rate), the benchmark overnight interest rate published every business day by the Federal Reserve Bank of New York.

See https://docs.carolinacloud.io/organizations/prepaid-interest...

[teiferer]

> The first sentence of the first section entitled "The Rate" reads as follows

That's nice. Though I won't read that far if I have no idea what this is going to be about. 1 paragraph is how much you get my attention for and if that's not enough then my attention goes elsewhere.

[mhh__]

When LIBOR was killed, financial derivatives were forced to reference (compounded) SOFR, it's a trimmed average of all the overnight lending agreements.