I was just checking my earn btc tab and I noticed something a bit strange so wanted to ask it here. I have 12500 FUN tokens that I already hold longer than 1 month, so my yearly interest is 4.08 +0.1 = 4.18%.
If you would divided 4.18%/365 days, you would get an interest of 0.01145% /day. However, according to the site, the daily interest is only 0.01123%. Someone could help with this?
Yep paying the interest daily makes its alot more flexible also just this difference from paying once a year does also raise the effective amount paid. The reason being the interest paid itself will then earn more interest the next day and so on, compounding. This can really hurt if you ever borrow and not realize this effect but here its why the daily is a lower figure.
Try this website to do the maths converting from daily to yearly and it shows how it adds up each month -
https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.phpMy previous daily interest amount update problem was almost certainly a stuck cached page. I thought I refreshed but that was probably it, almost every day I used to give that advice to just login on a different browser etc. and I didnt try that. Anyhow it shows everything now.