Phone OS (Android or iOS - Apple): android
Phone language: English
Hello! I just realized the difference between “Estimated Daily Rewards” under my delegations and actual Rewards being earned is a lot right now. I understand the estimate is showing APY figure, but the difference between APY and actual used to be around 4%. Right now it is around 15%. Example: before, if estimate was 10FX per day, the actual would be 9.5 FX. Right now, if the estimate is 10FX, actual is 8.5 FX.
Has anyone else noticed this change?
I mentioned many many months ago that the team should calculate based on APR and not APY since it is not auto compounding. I did flag that eventually if the fx ecosystem gets bigger, more people will start to ask why the actual rewards vs stated reward is different.
But if they are coming from the perspective that APY looks more delicious than APR then i can understand.
But for transparency sake, non auto-compounding contracts should always use APR for realism.
It would be great to have a calculator to do both on the Function X website though.
Yes, its somewhat deceptive and unclear in terms of calculating your income
I undestand the difference between APY and APR. I agree with everything you are saying.
But, with APY reduction the gap between the Estimate and Actual should close in. Instead it has increased.
Or is this because my principal amount has gone up, so difference between APY and APR has increased . I may have answered my own question.
Haha while i was typing, i realised i wasn’t answering your question but since it was related to rewards, i just lay it out again
I always thought that our calculation (both real and displayed) is based on APR.
@Chloechloe can you take a look at this? If it’s an honest mistake we should temporarily change it to APY instead of APR and also recalculate to show APR.
Zac, wouldn’t APR be more appropriate since there is no auto compounding?
Yep, noticed it to recently.
Couldn’t figure out what i was missing, believe i understand now.
Agree on APR calculation to be shown.