Interest Rate Model

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Interest Rate Model

APY Function
Borrow APY
= [1 + Base + Multiplier * min(UtilizationRate, Kink1) + max(JumpMultiplier * UtilizationRate - Kink2, 0)] ^ 2102400 - 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​
Major
Parameter
Value
Tokens
WETH, WBTC
Base
0%
Multiplier
17.5%
JumpMultiplier
200%
Kink 1
80%
Kink 2
90%
Contract Address
​0x61e9a6aB4923F5046C0Fb80E5c9F98afc9995fad​
Stable
Parameter
Value
Tokens
y3Crv, sUSD, mUSD, DUSD, EURS, sEUR, BUSD, cDAI, cUSDT, cUSDC, USDP, EUR, KRW, JPY, AUD, GBP, CHF
Base
0%
Multiplier
13%
JumpMultiplier
800%
Kink 1
80%
Kink 2
90%
Contract Address
​0xd6C04cF463A52A9C929D434F9F84ee70c1c0Ac6F​
​0x26c325C8880FfE5a5744fF667ba7D8651B868710​
3 Stables
Parameter
Value
Tokens
DAI, USDC, USDT
Base
0%
Multiplier
13%
JumpMultiplier
800%
Kink 1
80%
Kink 2
90%
Contract Address
​0x1B0c2586Df3daAd42aC2FDCaA0f6B91623747556​
Governance
Parameter
Value
Tokens
LINK, YFI, SNX, DPI, UNI, SUSHI, CRV, CREAM, AAVE
Base
0%
Multiplier
27%
JumpMultiplier
900%
Kink 1
80%
Kink 2
90%
Contract Address
​0xD369E8eaa0d2665Dfea6eb51fF2ADFca4EAA7891​

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