Below is the weekly APR for borrowing from Anchor Protocol.

And below is the daily APR since March 17th until today (18th August). The APR mimics the utilization ratio and reach the max at 41.7% APR. Today, we are seeing 26.9% APR for borrowing.

Graph below shows the utilization ratio which is the ratio of borrow amount over deposit amount. Somewhere in April, utilization almost reached 1.00

First we will take a look at the total stablecoins deposited into Anchor and borrowed.

We can see that the amount deposited has been increasing exponentially and it has passed 1B UST few days ago. The borrow amount also seen a substantial growth over the past 3 months and reach 720M UST.

From the Anchor docs, the formula for borrow rate is denoted by ;

           borrowRate = utilizationRatio⋅interestMultiplier+baseRate

and we it is also stated in the docs that;

           utilizationRation = stablecoinsLent/stablecoinsDeposited

Base rate is stated to be at minimum 2.0%. It is also stated that borrow rate is 30% when utilization ratio is at 66.7% so from here we an get the Interest Multplier; which is 0.41979 and we will be assuming this Interest Multiplier in this dashboard.