# Points APR

Although Points don't have an official APR, we can derive an implied APR by examining what users are willing to pay for Points "yield" in the Pendle & Spectra YT markets. The following formula demonstrates our method for calculating the implied APR for Points:

$$
APR\_{implied} = \text{Looping Multiplier} \times \left(\frac{YT\_{price}}{\text{Points Multiplier} \times \text{DTE}}\right) \times 100 \times 365
$$

### Implied APR Formula Terms Defined:

$$
\text{Looping Multiplier} = \text{Loop Factor} \times \text{Points Multiplier}
$$

$$
YT\_{price} = \text{YT}  Oracle\_{price}
$$

$$
\text{DTE} = \text{YT Days Until Expiry}
$$

By combining the Levered APR stemming from Native Yield and the Points APR, we can calculate the Total Looped APR as follows:

$$
\text{Total Looped APR} = \text{Native Yield APR} + \text{Points APR}
$$

{% hint style="info" %}
To convert APR to APY, apply the continuous compounding formula: $$APY=e^{APR}−1$$
{% endhint %}

### Example Calculation of APR ynETH with EigenLayer Points and Yieldnest Seeds

$$
APR\_{implied} = \text{Looping Multiplier} \times \left(\frac{YT\_{price}}{\text{Points Multiplier} \times \text{DTE}}\right) \times 100 \times 365
$$

ynETH Points Implied Yield is a sum of both EigenLayer Points and Yieldnest Seeds

<table><thead><tr><th width="199">ynETH Vault</th><th width="183">Looping Multiplier</th><th>Points Multiplier</th></tr></thead><tbody><tr><td>ynETH 5x</td><td>15</td><td>3 Yieldnest, 1 EigenLayer</td></tr></tbody></table>

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