Rates & net APY
Every rate in the app comes from Lista and is variable. This page shows how the numbers combine, and when a borrow becomes cheaper than free.
Borrow and supply rates#
Each Moolah market sets its borrow rate from utilization: low and flat while there is spare liquidity, then climbing steeply once utilization passes the 90% target. The supply rate is what lenders get from that interest. The market page charts both the rate history and the rate curve.
Net borrow rate#
When emission exceeds the interest, the net rate is negative: you are paid to borrow. The cell assumes at least Tier 1, so it shows the boosted figure even before your boost is live; the tooltip says when it isn’t yet.
- Borrow rate
- 5.00%
- Emission APR (gross)
- 7.00%
- After the 25% fee
- 5.25%
- Break-even gross emission
- 5.00% / 0.75 = 6.67%
- Net borrow rate
- −0.25%
Caps change the real number#
The net rate assumes your whole borrow is inside your tier’s boost cap. Above the cap, the boost is diluted (see Boost caps):
- Cell shows
- 2.37% − 15.75% = −13.38%
- Boosted share
- $500 cap / $2,000 = 25%
- Effective boost
- 15.75% × 25% = 3.94%
- Effective net rate
- ≈ −1.57% (+ any base emission)