We calculate the Validator APR (Annual Percentage Rate) to estimate the annualized yield generated by a validator on Solana. This APR reflects all rewards earned by the validator’s vote account and block proposals, normalized by the total active stake delegated to all stake accounts associated with that validator.

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Key Concepts

APR is based on actual on-chain rewards aggregated across multiple epochs. For each epoch, we collect:

• Vote Account Rewards: Rewards earned by the validator's vote account, which reflects inflation and MEV rewards from the protocol
• Block Proposal Rewards: Rewards earned by the validator for successfully proposing blocks
• Total Active Stake: The combined amount of SOL actively staked across all stake accounts delegated to the validator.

Since vote accounts themselves do not hold stake, we use the aggregated active stake from all stake accounts delegated to the validator as the basis for calculating yield.

Time window

We compute APR over a fixed number of recent epochs:

• 7-day APR → based on the last 4 epochs
• 30-day APR → based on the last 15 epochs

The Formula

1. Per-Epoch Reward Rates

Sum each per-epoch rate over the 𝑁 epochs analyzed:

2. Aggregate Epoch Rates

Sum each per-epoch rate over the 𝑁 epochs analyzed:

3. Annualize the Rates

Solana completes approximately 182.5 epochs per year. To annualize, apply the multiplier:

Multiply the summed rates by 𝑀 to obtain annualized APR values:

4. Total Validator APR

Finally, the total validator APR is the sum of all three components:

Notes

APR represents simple annualized returns and does not account for compounding.