What it means
An interest rate that changes over time, often by the minute, with no fixed or guaranteed return.
Onchain lending rates rise when many people want to borrow and fall when there's plenty to lend.
How it works
Every rate in Defied is variable and shows its source. We never promise a return.
Related terms
| Term | What it means |
|---|---|
| APY | Annual percentage yield: what a deposit would earn over a year at today's rate, with interest added back as it comes in. |
| Lending market | An onchain pool where people supply money that others borrow, with the interest paid by borrowers going to those who supplied it. |
This glossary explains terms in general. It isn't investment, tax or legal advice.