How did you get that number again? Daily 1% means, in total, 365% a year (if you do not count the rising base). If you do count the increasing base value (which would not be used in my understanding, as each coin, to be staked, must sit without any movement for 30 days first) would indeed be at 3700%. But then again, most of the coin wouldn't even be the base of calculation because of the 30 day sitting rule.