APY and Protection - Exponent Docs

Use APY and protection helpers to preview how a market allocates yield and how a proposed deposit changes Senior protection.

Current APY

const underlyingApy = 0.10; // 10%

const seniorApy = market.calculateSeniorApy(underlyingApy);
const juniorApy = market.calculateJuniorApy(underlyingApy);

console.log("Senior APY:", seniorApy);
console.log("Junior APY:", juniorApy);

Function	Parameters	Returns	Description
`calculateSeniorApy(underlyingApy)`	`underlyingApy: number`	`number`	Current marginal APY for Senior LPs
`calculateJuniorApy(underlyingApy)`	`underlyingApy: number`	`number`	Current marginal APY for Junior LPs

underlyingApy is a decimal rate. Use 0.10 for 10%.

APY after deposit

import { TrancheSide } from "@exponent-labs/exponent-sdk/client/tranching";

const seniorApyAfterDeposit = market.calculateSeniorApyAfterDeposit({
  trancheSide: TrancheSide.Senior,
  amountIn: 1_000_000_000n, // raw SY units for the proposed deposit
  underlyingApy: 0.10,      // 10% underlying APY
});

const juniorApyAfterDeposit = market.calculateJuniorApyAfterDeposit({
  trancheSide: TrancheSide.Junior,
  amountIn: 1_000_000_000n, // raw SY units for the proposed deposit
  underlyingApy: 0.10,      // 10% underlying APY
});

Parameter	Type	Description
`trancheSide`	`TrancheSide`	Tranche receiving the proposed deposit
`amountIn`	`bigint`	Proposed SY amount for the preview, in raw SY token units
`underlyingApy`	`number`	Underlying APY as a decimal rate
`syExchangeRate`	`number \| string`	Optional decimal exchange-rate override. `1.05` means 1.05 NAV per raw SY unit
`syExchangeRateRaw`	`bigint`	Optional raw fixed-point exchange-rate override. `1_000_000_000_000n` means `1.0`

The preview converts amountIn with the SY exchange rate into raw fixed-point NAV. It does not apply token mint decimals for display.

Senior protection after deposit

const protection = market.calculateSeniorProtectionAfterDeposit({
  trancheSide: TrancheSide.Junior,
  amountIn: 1_000_000_000n, // raw SY units for the proposed deposit
});

console.log("Protected-until price:", protection.protectionPerBaseToken);
console.log("Max drawdown before Senior loss:", protection.maxDrawdownBeforeSeniorLossPct);

Return field	Description
`protectionPerBaseToken`	Price floor per base token implied by current Junior protection
`maxDrawdownBeforeSeniorLossPct`	Percent market drawdown Junior can absorb before Senior starts losing NAV

These helpers preview local math. They do not submit a transaction or reserve capacity.