> For the complete documentation index, see [llms.txt](https://docs.marquee.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.marquee.fi/protocol/rate-of-reward-and-apy.md).
# Rate of Reward & APY
**Rate of Reward**
The reward rate to stakers is the percentage increase in sMARQ in the next epoch. The reward rate can be calculated below:
Where is the reward rate in the current epoch,is the total amount of MARQ allocated to stakers is the total amount of sMARQ from the last epoch.
**Annual Percentage Yield**
The annual reward rate for MARQ stakers compounded 3 times a day. Hence, the total number of epochs used to compound the return is 365\*3=1095, and the APY can be calculated below:
The power of compounding will increase the value of stakers’ assets exponentially.
**MARQ Supply per Epoch**
The protocol distributes part of newly minted MARQ to stakers, denote by, which is calculated according to the following equation:
where is the residual of total MARQ supply, is the reward ratio which is determined by the protocol and DAO governance.
is the reward rate in the current epoch,
is the total amount of MARQ allocated to stakers 
is the total amount of sMARQ from the last epoch.
**Annual Percentage Yield**
The annual reward rate for MARQ stakers compounded 3 times a day. Hence, the total number of epochs used to compound the return is 365\*3=1095, and the APY can be calculated below:
is the residual of total MARQ supply, 
is the reward ratio which is determined by the protocol and DAO governance.