Interest Rate Model #
APY Function #
Borrow APY
Borrow APY = 100 * CompSpeed * eRSDLPrice * BlocksPerYear / TotalBorrows / UnderlyingPrice
where
- CompSpeed - amount of eRSDL that is distributed, per block, to suppliers and borrowers in each market.
- ERSDLPrice - current listed price of eRSDL token.
- BlocksPerYear - amount of mined blocks in Ethereum network -
2,102,400 (15 sec per block) - UnderlyingPrice - price of borrowed asset
- Total Borrows - amount of underlying currently loaned out by the market, and the amount upon which interest is accumulated to suppliers of the market
Supply APY
Supply APY = 100 * CompSpeed * eRSDLPrice * BlocksPerYear / (TotalSupply * ExchangeRate * UnderlyingPrice/1000000000000000000/1000000000000000000)/1000000000000000000
where
- CompSpeed - amount of eRSDL that is distributed, per block, to suppliers and borrowers in each market.
- eRSDLPrice - current listed price of eRSDL token.
- BlocksPerYear - amount of mined blocks in Ethereum network -
2,102,400 (15 sec per block) - UnderlyingPrice - price of borrowed asset
- Total Supply - number of tokens currently in circulation in this unToken market
- UndelryingPrice - price of a supplied asset
- ExchangeRate - exchange rate between an unToken and the underlying asset.
Each unToken is convertible into an ever increasing quantity of the underlying asset, as interest accrues in the market:
ExchangeRate = (UnderlyingBalance + TotalBorrows) / TotalSupply- UnderlyingBalance - amount of underlying balance owned by this unToken contract
- Total Borrows - amount of underlying currently loaned out by the market, and the amount upon which interest is accumulated to suppliers of the market.
- Total Supply - number of tokens currently in circulation in this unToken market