Rewards for coverage providers

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What constitutes an APY
APY is displayed for each pool on the platform. The APY consists of up to 3 different assets: 
USDT stablecoin (from Premiums)
Bridge Mutual tokens (BMI, from the Reward Pool)
Project X’s token (this is not always the case) (V2)
Both the USDT stablecoin rewards and the Bridge Mutual tokens (BMI) are determined based on the perceived risk of the particular Coverage Pool. The perceived risk in term is determined by the pool's utilization ratio. You can read all on rewards calculations and their relation to the utilization ratio in our Whitepaper.
How do I earn yield in USDT stablecoin?
By providing coverage in Coverage pools.
How do I earn yield in BMI?
By taking the bmixCover tokens (received after you have provided coverage) and staking them in the bmiCover Staking Contract.
Only whitelisted projects can benefit from staking bmixCover in order to avoid economic exploits of the Protocol.
How do I earn yield in Project X's token?
This is available only via Shield Mining (V2) and only for certain pools. When you provide coverage, there will be an indicator if the specific pool offers Shield Mining rewards.
How often is yield distributed?
Yield is distributed to Coverage Providers on a daily basis.
When can the yield be claimed?
When the coverage provider exits their position (exchanges their bmixCover for USDT).
Is the USDT yield compounded?
Yes! The Coverage Provider Yield from the Premium paid in USDT is added to the pool every block (or epoch), increasing the balance of USDT in the Project X Coverage Pool. The yield is compounded, which increases the depth of the Project X Coverage Pool.
What % of Premiums are distributed to Coverage Providers?
80% of premiums go to coverage providers. The remaining 20% goes to the Reinsurance Pool.
How is the APY shown on the app calculated?
The APY is the sum of two components:
The Premium
The BMI rewards (converted to USDT at the current price)
 For both of them, the rewards which are due to be distributed on the next block (per USDT deposited in the pool) are annualized and summed and this gives us the APY.

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Coverage Mining Event: 09.07.2021 - 23.07.2021

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Contents

What constitutes an APY

How do I earn yield in USDT stablecoin?

How do I earn yield in BMI?

How do I earn yield in Project X's token?

How often is yield distributed?

When can the yield be claimed?

Is the USDT yield compounded?

What % of Premiums are distributed to Coverage Providers?

How is the APY shown on the app calculated?