> For the complete documentation index, see [llms.txt](https://ton-ls-protocol.gitbook.io/ton-liquid-staking-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ton-ls-protocol.gitbook.io/ton-liquid-staking-protocol/protocol-components/governance-components/interest-manager.md). # Interest Manager ### Overview The interest Manager defines the interest rate at which the pool lends funds to the validator. Due to designing it is important to determine rates in such a way that the proposed rate can cover the cost of the validator, taking into account, that often the maintenance of the validator hardware is paid in fiat equivalent. Due to the Interest Manager working fast with dynamic information Governance fees collects with this component. Interest Manager is currently represented as a Wallet which is connected with an off-chain service that analyzes blockchain and validation stats related to the liquid pool with its own Wallet. At any moment it could be(and will be) improved to the contract-based on-chain system with the same functionality, that has its central node a Wallet or Multisignature Wallet or DAO. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://ton-ls-protocol.gitbook.io/ton-liquid-staking-protocol/protocol-components/governance-components/interest-manager.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.