# APR & Utilization

## Interest Rate Curve

APR figures are determined by utilization, at a higher utilization APR starts to increase to discourage borrowers and incentives lenders.

Take note that at 100% utilization, you cannot withdraw your tokens, but also enjoy very high APR figures.

The following assets use the curve below: USDC, USDT, SOL, SRM, MER, MEDIA, TULIP, SLRS, ALEPH, ROPE, COPE, SNY, Sollet ETH, ATLAS, POLIS

Utilization | Interest Rate (APR) | Approx Interest Rate (APY) |
---|---|---|

0%-50% | 0%-15% | 0%-16.18% |

50%-90% | 15%-25% | 16.18%-28.39% |

90%-100% | 25%-100% | 28.39%-171.46% |

The following assets use the curve below: ORCA, whETH, mSOL, BTC, GENE, DFL, SAMO, REAL

Utilization | Interest Rate (APR) | Approx Interest Rate (APY) |
---|---|---|

0%-50% | 0%-15% | 0%-16.18% |

50%-90% | 15%-25% | 16.18%-28.39% |

90%-100% | 25%-150% | 28.39%-348.16% |

We have implemented a more competitive curve for RAY lending found below, this is to ensure rates remain competitive enough due to RAY single staking APR.

Utilization | Interest Rate (APR) | Approx Interest Rate (APY) |
---|---|---|

0%-50% | 0%-15% | 0%-16.18% |

50%-90% | 15%-35% | 16.18%-41.88% |

90%-100% | 35%-100% | 41.88%-171.46% |

## Historical Lending Rates

You can find our dashboard here: https://grafana.tulip.garden/d/NfmOZZjnk/historical-interest-rates?orgId=1

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