Lending APR : 8.99%
Incentive APR : 17.47%
Borrow APY : 18.98%
LTV : 55%
Example, with 100 SUI. User can do loop for S = 1 / (1 - r) = 1 / (1 - 0.55) = 2.22 times
So user can have borrow amount equal to 100 * 2.22 = 222.22 SUI
and user will have collateral/lending amount equal to 222.22 SUI / 0.55 = 404.039 SUI
So the yield will be 404.039 SUI * (17.47% + 8.99%) = 106.9087194 SUI/year
and the borrowing fee will be 222.22 SUI * 18.98% = 42.1773 SUI/year
User profit in a year will be equal to 106.908 SUI - 42.177 SUI = 64.731 SUI/year
So the real yield is 64.731%