How APR and APY Are Calculated

1.Snapshots every hour

We take a snapshot of the vault every hour to track:

• Total vault value (USD)

• New deposits and withdrawals (USD)

• Fees/rewards earned since the last snapshot (USD)

This helps us calculate accurate returns, even when deposits or withdrawals happen.

2.Detecting large deposits

If a deposit is more than 20% of the vault’s previous value, we consider it a material deposit.

• Snapshots during and shortly after large deposits are temporarily excluded from APR calculation to allow the vault time to deploy the new funds.

3. 24h rolling APR

$$7\text{-Day Average APR} = \text{AVERAGE}\big(\text{All 24h Rolling APR in the last 7d}\big)$$

This shows the annualized return based on the past 24 hours.

4.7-Day Average APR

We take the average of all 24h rolling APRs over the last 7 days to get a smoother, more reliable number.

4. APY (hourly compounding)

$$7\text{-Day APY} = \left(1 + \frac{7\text{-Day APR}}{8760}\right)^{8760} - 1$$

8760 = 365 days × 24 hours

• This accounts for hourly compounding, giving the real yearly return if earnings are reinvested every hour.