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, GUSD, cDAI, cUSDT, cUSDC, USDP, FRAX, ibEUR, EURt

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

Base

0%

Multiplier

27%

JumpMultiplier

900%

Kink 1

80%

Kink 2

90%

Contract Address

0xD369E8eaa0d2665Dfea6eb51fF2ADFca4EAA7891