Why is LP APR on Terraswap so much less than on Anchor

To know the APRs for various LPs on Terra I have been relying on this website


(I hope one day these APRs can be made available to view in the official Terraswap app)

I notice that the APR for the ANC-UST LP pair on terraswap is about 9%

But on Anchor Protocol (Governance tab) the same LP pair is being advertised as 92%

What explains this enormous discrepancy? Are they not all going into the same LP pool?

I think the ANC-UST LP APR on Anchor Protocol shows the APR with the ANC incentive while the Alpac4 dashboard shows the APR with just the swap fees.

1 Like

oh that makes perfect sense!