📈Interest Rate Model

APY Function

The parameters below are borrowing major coins

Borrow APY

= {1 + [BaseRatePerSecond + MultiplierPerSecond * min(UtilizationRate, Kink1) + max(JumpMultiplierPerSecond1 * UtilizationRate - Kink2,0) * JumpMultiplierPerSecond2] / SecondsPerYear } ^ SecondsPerYear - 1

Where:

• UtilizationRate = Borrows / (Cash + Borrows - Reserves)

• SecondsPerYear = 31,557,600 (accounting for leap years)

Supply APY

= Distribute (Interest Paid by Borrowers Per Second - Reserve) to all suppliers, and convert it into APY

= Distribute [(1 + Borrow APY) ^ (1 / SecondsPerYear) - 1] * Total Borrow * (1 - Reserve Factor) to all suppliers, and convert it into APY

= {[(1 + Borrow APY) ^ (1 / SecondsPerYear) - 1] * Total Borrow * (1 - Reserve Factor) / Total Supply}, and convert it into APY

= {1 + [(1 + Borrow APY) ^ (1 / SecondsPerYear) - 1] * Total Borrow * (1 - Reserve Factor) / Total Supply} ^ SecondsPerYear - 1

= {1+[(1+Borrow APY)^(1/SecondsPerYear)-1]*(1-Reserve Factor)*Utilization Rate}^SecondsPerYear-1

Where:

• BorrowRate = BaseRatePerSecond + MultiplierPerSecond * UtilizationRate (if UtilizationRate <= Kink1) or BaseRatePerSecond + JumpMultiplierPerSecond1 * UtilizationRate (if UtilizationRate > Kink1 and UtilizationRate <= Kink2) or BaseRatePerSecond + JumpMultiplierPerSecond1 * Kink2 + (UtilizationRate - Kink2) * JumpMultiplierPerSecond2 (if UtilizationRate > Kink2)

• UtilizationRate = Borrows / (Cash + Borrows - Reserves)

• ReserveFactor = Reserve Factor Mantissa

Parameter

Major

Parameter	Value
Token	USDC, WETH, WBTC, FRAX, CRVUSD, DAI
Base	0%
Multiplier	9e16
JumpMultiplier1	9.8e16
JumpMultiplier2	1.1e18
Kink 1	55%
Kink 2	89.5%
Contract Address	0xC82151fc8C8f4c8042beea293FeAb8764221d7fD

Utilization	Borrow Rate
0	0%
5%	0.48%
10%	0.95%
20%	1.90%
30%	2.85%
40%	3.80%
50%	4.75%
60%	5.88%
70%	6.86%
80%	7.84%
85%	8.33%
90%	9.05
95%	14.55%
100%	20.05%