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Current APY #263

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micahalcorn opened this issue Jan 20, 2023 · 0 comments
Open

Current APY #263

micahalcorn opened this issue Jan 20, 2023 · 0 comments
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enhancement New feature or request P2 Small number of users are affected, major cosmetic issue

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@micahalcorn
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micahalcorn commented Jan 20, 2023

Once 100% of yield is going through the Dripper (original proposal), we'll want to start advertising the "current yield" instead of focusing on a 30-day trailing average. This is because the currently-dripping APY will become the best indicator of what APY someone is likely to experience in the near future holding OUSD. We were initially thinking that we would take this to the extreme and advertise the dripped APY as of the most recent block (< 12 seconds ago) for the most accurate measure, but now we've realized that our Proof of Yield page will be most effective if it defaults to a one-day time period. As a result, it makes sense to advertise "today's APY". In my book, "today" means an average of the past +/-7,170 blocks. It's best to avoid calendar days given timezones and such. We also wouldn't want to consider a day to mean "today so far" based on the last rebase. If you're very bored, read my ramblings in Discord for a very deep cut.

What this all means is that our API needs to offer an endpoint with the 1-day trailing average APY. I'm not sure whether or not the calculation will be different from our current multi-day APY, but I did notice that https://analytics.ousd.com/api/v1/apr/trailing/1 does not really work while https://analytics.ousd.com/api/v1/apr/trailing/2 does. I also think it would be nice to include a most recent block, real-time APY as well just so that we can see what the difference is between it and the 1-day and have the most precise measurement possible if anyone wants it. Given that we probably have some caching or delay and don't pick up data from every block immediately, it's fine to just use the latest block that we know about.

@micahalcorn micahalcorn added enhancement New feature or request P2 Small number of users are affected, major cosmetic issue unplanned Added to the sprint due to urgency labels Jan 20, 2023
@micahalcorn micahalcorn modified the milestones: Sprint 43, Sprint 44 Jan 20, 2023
@micahalcorn micahalcorn removed the unplanned Added to the sprint due to urgency label Jan 20, 2023
@micahalcorn micahalcorn modified the milestones: Sprint 44, Sprint 45 Jan 30, 2023
@micahalcorn micahalcorn modified the milestones: Sprint 45, Sprint 46 Feb 14, 2023
@micahalcorn micahalcorn removed this from the Sprint 46 milestone Mar 3, 2023
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Labels
enhancement New feature or request P2 Small number of users are affected, major cosmetic issue
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