APY vs APR

APR is the simple yearly rate without compounding. A 10% APR compounded daily is about a 10.5% APY. Crypto platforms often show APY because it is the bigger number.

Reading crypto yields

Advertised yields are usually variable and paid in a volatile token. A 20% APY in a token that falls 50% still loses money. Ask where the yield comes from before chasing it.