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Trying to estimate APY of supplying USDX on Kava. I

calculated ~56% APY. Is this more or less accurate?

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Looks about right. Don't borrow 25% of the USDX in one hit or the borrow interest can liquidate you. Borrow 24% then resupply, then borrow another 6% and resupply giving you 30% extra. Don't do this if borrowing other assets

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