> 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).


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