Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?

Question

Is `getReserveData()` on the `LendingPool `contract the correct way to find the current APY to borrow?

Answer

Calling `getReservesData()` or getting the rate from graphql will give the APR in ray units (27 decimals). To convert APR to APY the formula is 
```
((APR/secondsPerYear + 1)^secondsPerYear) -1
```
or you can use the formatters in aave-js or aave-utilities to plug in the reserve data and `formatReserve()` will return both the APR and APY.

Is getReserveData() on the LendingPool contract the correct way to find the current APY to borrow?

Answers 1