Interest Rate Model

APY Function
Parameters below are different based on token type (major, stable, governance...... etc).
Borrow APY
= {1 + [Base + Multiplier * min(UtilizationRate, Kink 1) + max(JumpMultiplier * UtilizationRate - Kink 2, 0)] / BlocksPerYear } ^ BlocksPerYear - 1
Supply APY
= Distribute (Interest Paid by Borrowers Per Block - Reserve) to all suppliers, and convert it into APY
= Distribute [(1 + Borrow APY) ^ (1 / BlocksPerYear) - 1] * Total Borrow * (1 - Reserve Factor) to all suppliers, and convert it into APY
= {[(1 + Borrow APY) ^ (1 / BlocksPerYear) - 1] * Total Borrow * (1 - Reserve Factor) / Total Supply}, and convert it into APY
= {1 + [(1 + Borrow APY) ^ (1 / BlocksPerYear) - 1] * Total Borrow * (1 - Reserve Factor) / Total Supply} ^ BlocksPerYear - 1
= {1+[(1+Borrow APY)^(1/BlocksPerYear)-1]*(1-Reserve Factor)*Utilization Rate}^BlocksPerYear-1
BlocksPerYear = 2,102,400 (15 sec per block)
Find other variables in Markets​
Parameter by Token Category
Major
Parameter
Value
Tokens
WBTC
Base
0%
Multiplier
17.5%
JumpMultiplier
200%
Kink 1
80%
Kink 2
90%
Contract Address
​0xadc46C5eA23BcB838Af714bCD822d5f52c2EDF23​
WETH
Parameter
Value
Tokens
WETH
Base
0%
Multiplier
12.5%
JumpMultiplier
250%
Kink 1
80%
Kink 2
90%
Contract Address
​0xf2Acee535Ebb8B9Bb875646E134CdDEb6f5a97ef​
Stable
Parameter
Value
Tokens
USDT, USDC, DAI, sUSD, EURS, sEUR, ibEUR, ibKRW, ibJPY, ibAUD, ibGBP, ibCHF, ibZAR, MIM
Base
0%
Multiplier
13%
JumpMultiplier
800%
Kink 1
80%
Kink 2
90%
Contract Address
​0x8015272057745533Fc531B6429c2d2F51BE3711C​
Governance
Parameter
Value
Tokens
LINK, YFI, SNX, DPI, UNI, SUSHI, CRV, AAVE, CVX
Base
0%
Multiplier
20%
JumpMultiplier
500%
Kink 1
70%
Kink 2
80%
Contract Address
​0xd0B628cB062bcb34331482391C2110CD7a731e5a​

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Last modified 29d ago

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APY Function

Borrow APY

Supply APY

Parameter by Token Category

Major

WETH

Stable

Governance