The interest rate on your investment is very important when you are exploring DeFi (Decentralized Finance) opportunities. While looking for the best interest rates, you need to pay attention to whether the rate displayed is APR or APY. The difference between them can be confusing to many but it's pretty simple. I have created a simple graphic to explain them in 2 minutes.
10% APR compounded daily is 10.52%
100% APR compounded daily is 171.46%
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It might of been better to have the pictures on the same percentage so people can see it clearly but it does show the difference clearly.
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I directly took the screenshot from the website and it was showing the percentage slab for different ROIs depending upon the compounding period.
Posted Using LeoFinance Beta