The base rate is an estimate of lending interest at the connected markets' current conditions. Your actual outcome is reflected in the underlying assets represented by your shares.
APR is not a promise#
APR annualizes a rate without assuming a particular compounding schedule. Setsuna displays base APR, not a guaranteed APY. Rates change as borrowing, available cash, fees and market configuration change.
The blended vault rate accounts for where the vault's assets are currently supplied. Idle cash contributes a zero lending rate. A newly funded vault can therefore show a lower blended rate before allocation catches up.
Current Earn fees#
| Cost | Current behavior |
|---|---|
| Setsuna deposit fee | None |
| Setsuna withdrawal fee | None |
| Setsuna performance fee | None |
| Earn keeper reward | None paid by the vault |
| Network gas | Paid by the account sending the transaction |
| Underlying protocol interest fees | Reflected in the adapter's net base-rate calculation |
This table applies to Earn. Spot execution, Perpl trading, funding and optional protection have their own costs.
Where the interest goes#
Interest stays in the lending position and increases the value backing the vault's shares. You do not need a separate claim transaction for that lending interest.
The current implementation does not harvest external reward tokens, swap incentive tokens or include bonus emissions in the displayed APR.
Share value versus performance#
A share-price increase can come from interest or a donation. A decrease can reflect losses or accounting changes. A current APR is not a historical return, and a simple change in share price is not necessarily organic yield.
The current app shows position value, rates and activity. A reconciled realized-performance ledger is still future work. Read how rates are measured for the calculation.