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Aaveator138
Feb 06, 2023
Experten Q&A

Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?

Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?

  • Aave Protocol
  • Aave Pool
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Aaveator.
Aaveator138
Feb 16 2023, 12:32

Calling getReservesData() or getting the rate from graphql will give the APR in ray units (27 decimals). To convert APR to APY the formula is

((APR/secondsPerYear + 1)^secondsPerYear) -1

or you can use the formatters in aave-js or aave-utilities to plug in the reserve data and formatReserve() will return both the APR and APY.

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