In provide, when it says 28% APY, or 13, 10, or whatever%; does that mean, let’s say I put 10 ETH coins (approximately $10 K) in provide, which has 10% APY, so in one year I’ll earn around $1000 in p-coins (approximately 500 p-coins). Is that how that works? Love this platform, you guys rock.
APY in Provide
Short answer, yes.
Longer answer: that depends:
Assume you deposit USDT and earn a 10% APY. The interest is given to you in PRV and compounded. It is however only compounded in the base rate (the 10% for USDT)
If you frequently withdraw your PRV and restake it, you will earn 28% on the interest (i.e. the PRV APY)
I raised a similar question in another Thread: Changes to Provide
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Thank you!