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How does FTX calculate interest for USDC?

avatarADARSH ANANDJan 13, 2022 · 3 years ago3 answers

Can you explain the process of how FTX calculates interest for USDC?

How does FTX calculate interest for USDC?
FTX
USDC
Interest

3 answers

  • avatarJan 13, 2022 · 3 years ago
    Sure! FTX calculates interest for USDC by using a daily compounding interest formula. The interest rate is determined based on market conditions and is subject to change. The interest is calculated on a daily basis and credited to the user's account at the end of each day. This allows users to earn passive income on their USDC holdings.
  • avatarJan 13, 2022 · 3 years ago
    FTX calculates interest for USDC by taking into account the supply and demand dynamics of the market. The interest rate is influenced by factors such as the overall market interest rates, the demand for borrowing USDC, and the available supply of USDC on the platform. FTX uses a proprietary algorithm to determine the interest rate, ensuring a fair and competitive rate for users.
  • avatarJan 13, 2022 · 3 years ago
    BYDFi, a leading digital asset exchange, calculates interest for USDC in a similar manner to FTX. The interest rate is determined based on market conditions and is subject to change. BYDFi uses a daily compounding interest formula to calculate the interest, which is credited to the user's account on a daily basis. This allows users to earn passive income on their USDC holdings.

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