diff --git a/API.md b/API.md
index b7ce5fc..a8c1ad5 100644
--- a/API.md
+++ b/API.md
@@ -45,8 +45,13 @@ This file tells us where example.com publishes packages that adhere to the `waln
 or if walnut were not protected by trademark and another company were to create a similar, but incompatible package
 system for it, it would be `walnut.go@acme.co` or some such)
 
-For publishers with a long list of packages you might find a URL using the template variable `:package_name` to describe
-where more information about a package can be found:
+For publishers with a long list of packages you might find a URL to describe
+where more information about a package can be found.
+
+Template variables
+```
+:package_name
+```
 
 ```json
 { "package_url": "https://packages.example.com/indexes/:package_name.json"
@@ -54,8 +59,14 @@ where more information about a package can be found:
 }
 ```
 
-For publishers with a short list of packages you might find that all of the packages are listed directly,
-using the template variables `:package_name`, `:package_version`, `:payment_token`.
+For publishers with a short list of packages you might find that all of the packages are listed directly.
+
+Template variables
+```
+:package_name
+:package_version
+:payment_token
+```
 
 ```json
 { "package_url": null