APR vs APY
APR = yearly rate without compounding, APY = with compounding (higher).
APR = raw annual rate, no compounding. APY = with daily/block compounding. 100% APR daily compounded = 171% APY (e effect). Most DeFi platforms show APY (looks better). Remember: high APY != profit; if reward token loses 90% in value, real return is negative.
In plain words
APR = what you earn in a year if you cash out. APY = what you earn if you reinvest every payout. Don't fall for 420% APY.
Example
Curve stETH pool: APR 3.2% base + 2.1% CRV rewards = 5.3% APR, 5.4% APY.
Also known as: apr, apy, yield