diff --git a/BTP.markdown b/BTP.markdown
index 001ef42..f7537ab 100644
--- a/BTP.markdown
+++ b/BTP.markdown
@@ -38,14 +38,14 @@ The devices must also agree which of them will play the role of Alice and which
 
 BTP's key derivation function is based on a message authentication code:
 
-KDF(k, x_1, ..., x_n) == MAC(k, len(x_1) || x_1 || ... || len(x_n) || x_n)
+* `KDF(k, x_1, ..., x_n) == MAC(k, len(x_1) || x_1 || ... || len(x_n) || x_n)`
 
 Each device derives four initial keys from S:
 
-* atk = KDF(S, "ALICE_TAG_KEY")
-* ahk = KDF(S, "ALICE_HEADER_KEY")
-* btk = KDF(S, "BOB_TAG_KEY")
-* bhk = KDF(S, "BOB_HEADER_KEY")
+* `atk = KDF(S, "ALICE_TAG_KEY")`
+* `ahk = KDF(S, "ALICE_HEADER_KEY")`
+* `btk = KDF(S, "BOB_TAG_KEY")`
+* `bhk = KDF(S, "BOB_HEADER_KEY")`
 
 Alice initialises her outgoing tag and header keys otk = atk and ohk = ahk, and her incoming tag and header keys itk = btk and ihk = bhk. Bob initialises his outgoing tag and header keys otk = btk and ohk = bhk, and his incoming tag and header keys itk = atk and ihk = ahk. Thus Alice's outgoing keys are Bob's incoming keys and vice versa. Both devices then erase S.
 
@@ -57,10 +57,10 @@ The length of each rotation period is R = D + L seconds. Rotation periods are al
 
 The initial keys derived from S are the keys for period P - 1. The keys for the i^th rotation period are derived from the previous period's keys as follows:
 
-* otk = KDF(otk,  "ROTATE_TAG_KEY", int(i))
-* ock = KDF(ock, "ROTATE_HEADER_KEY", int(i))
-* itk = KDF(itk, "ROTATE_TAG_KEY", int(i))
-* ick = KDF(ick, "ROTATE_HEADER_KEY", int(i))
+* `otk = KDF(otk,  "ROTATE_TAG_KEY", int(i))`
+* `ock = KDF(ock, "ROTATE_HEADER_KEY", int(i))`
+* `itk = KDF(itk, "ROTATE_TAG_KEY", int(i))`
+* `ick = KDF(ick, "ROTATE_HEADER_KEY", int(i))`
 
 If the sender starts sending a stream at time t according to the sender's clock, the recipient may start receiving the stream at any time between t - D and t + D + L according to the recipient's clock. Therefore each device must retain the incoming keys for the previous, current and next rotation periods, along with the outgoing keys for the current rotation period. Keys are erased when they are no longer needed.