Interest Rate Model

APY Function

Borrow APY

= [1 + Base + Multiplier * min(UtilizationRate, Kink) + max(JumpMultiplier * UtilizationRate - Kink, 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

Category

Major

Tokens

ETH, WBTC, renBTC, BBTC, HBTC, WBTC, yvWETH, ibBTC

UNI-V2-WBTC-ETH, UNI-V2-ETH-USDT, UNI-V2-DAI-ETH, UNI-V2-USDC-ETH

yvCurve-sETH, yvCurve-stETH

Base

0%

Multiplier

15%

JumpMultiplier

200%

Kink 1

80%

Kink 2

90%

Stable

Parameter
Value

Category

Stable

Tokens

USDT, USDC, DAI, BUSD, yCRV, HUSD, sUSD, FRAX, UST, yvCurve-IB, yUSD, FEI, PAX, EURT

Base

0%

Multiplier

18%

JumpMultiplier

800%

Kink 1

80%

Kink 2

90%

Governance + Seed

Parameter
Value

Category

Governance & Seeds

Tokens

COMP, BAL, YFI, LINK, CREAM, AAVE, CRV, MTA, SRM, FTT, UNI, SUSHI, wNXM, CEL, DPI, BOND, KP3R, HFIL, HEGIC, ESD, COVER, 1INCH, OMG, xSUSHI, SNX, PICKLE, AKRO, bBADGER, OGN, ALPHA, FTM, RUNE, PERP, RAI, OCEAN, RARI, SFI, ARMOR, arNXM, MLN, VSP, VVSP, GNO, SWAP, WOO, BNT, PAXG, LON, YGG, AXS, SAND, MANA

Base

0%

Multiplier

20%

JumpMultiplier

500%

Kink 1

70%

Kink 2

80%

SushiSwap Liquidity Provider token (SLP)

Parameter
Value

Category

SLP

Tokens

SLP-WBTC-ETH,

SLP-DAI-ETH,

SLP-USDC-ETH,

SLP-ETH-USDT,

SLP-SUSHI-ETH,

SLP-YFI-ETH,

Base

10%

Multiplier

55%

JumpMultiplier

180%

Kink

50%

AMP (exploit)

Parameter
Value

Category

AMP

Tokens

AMP

Base

0%

Multiplier

0%

JumpMultiplier

0%

Kink

100%

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