Describing the Annual Percentage Yield Formula in detail.
The APY is calculated using the following equation from the reward yield (also known as the rebase rate):
Because a rebase occurs 1 time a day, it rises to the power of 365.
Given that there are 365 days in a year, the rebase frequency is 365*1 = 365
AmountAPY = (1+ RewardYeld) at the power of 365