> For the complete documentation index, see [llms.txt](https://trumarket.gitbook.io/trumarket-tokenomics/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://trumarket.gitbook.io/trumarket-tokenomics/trumarket-tokenomics/how-it-works-value-and-fees/dynamic-apy-system/apy-calculation-formula.md).

# APY Calculation Formula

The final APY for a liquidity provider is calculated as:

Final APY = Base APY (14%)\
\+ Early Participation Modifier\
\+ Deal Risk Score Modifier\
\+ Geographic Risk Modifier\
\+ Seasonal Risk Modifier\
\+ Product Type Risk Modifier

Constraints:

* Minimum APY: 10%
* Maximum APY: 18%