> For the complete documentation index, see [llms.txt](https://docs-v4.venus.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs-v4.venus.io/technical-reference/reference-core-pool/interestratemodels.md).

# InterestRateModels

Each BNB Core market stores its own interest-rate-model address. Model families and annualization constants have changed over time, so the market address and block determine the applicable implementation.

## Model selection

1. Read `interestRateModel()` from the vToken.
2. Identify whether the returned address is a model or a `CheckpointView` wrapper.
3. For a wrapper, resolve the active target at the relevant checkpoint.
4. Read `blocksPerYear` or `BLOCKS_PER_YEAR` from the effective model before annualizing a per-block rate.
5. Use the exact deployed ABI and parameters; do not infer them from the model family name.

At BNB Chain block `118,364,540`, the active vUSDC and vUSDT markets both pointed to `CheckpointView` `0x2CF0e211c99dFd28892cf80D142aA27a9042Dbf4`, whose active TwoKinks target exposed `BLOCKS_PER_YEAR = 70,080,000`.

{% hint style="warning" %}
Checkpoint wrappers can switch their underlying model at a configured timestamp while keeping the same address in the vToken. Historical rate reconstruction must resolve the target for the historical block, not only inspect the wrapper's current result.
{% endhint %}

## Model families

* [JumpRateModel](/technical-reference/reference-core-pool/interestratemodels/jumpmodel.md) — one kink and a jump slope.
* [TwoKinksInterestRateModel](/technical-reference/reference-core-pool/interestratemodels/twokinksinterestratemodel.md) — three curve segments separated by two kinks.
* [WhitePaperInterestRateModel](/technical-reference/reference-core-pool/interestratemodels/whitepapermodel.md) — older linear model; some unlisted markets retain balances or debt, so its legacy reference must remain available.

The previously published [InterestRateModelLens page](/technical-reference/reference-core-pool/interestratemodels/interestratemodellens.md) has no resolved canonical source or deployment and must not be treated as a supported integration address.

Current market addresses are listed in [Deployed Markets](/deployed-contracts/markets.md). For interest, exchange-rate, and APR/APY equations, see [Protocol Math](/guides/protocol-math.md).


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs-v4.venus.io/technical-reference/reference-core-pool/interestratemodels.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.