> For the complete documentation index, see [llms.txt](https://docs.kasu.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kasu.finance/lending-with-kasu/understanding-epochs-and-clearing-periods/epochs.md). # Epochs An epoch is a fixed time period in the Kasu ecosystem, which occurs over 7 days. Here's what you need to know about epochs: ### ⏱️ Time Frame Each epoch has a set duration of 7 days, providing a consistent schedule for all lending activities and associated transactions occurring within Kasu. Within the final 48 hours of each epoch, a Clearing Period occurs, during which time all transactions are determined/executed (Lending and Withdrawal Requests and associated transactions, along with Loyalty Level calculations, Protocol Fee Sharing etc.). If a Lending Request, Withdrawal Request or cancellation request has not been submitted prior to the commencement of the 48-hour Clearing Period, it will be carried over to the next 7-day epoch. Various sections of the Kasu platform display exactly when the next Clearing Period starts so Lenders can manage their transaction requests more efficiently. ### 💱 Continuous Operation Epochs run continuously, with a new one starting immediately after the previous one ends. ### 🗣️ Lending and Withdrawal Requests You can submit a Lending or Withdrawal Request at any time during an epoch. However, these requests are queued for processing during the final 48-hour period (Clearing Period) of the current epoch, and subsequently processed based on Tranche availability and Loyalty Level (in the case of Lending Requests) or capital available for withdrawal and Loyalty Level (in the case of Withdrawal requests). If a Lending or Withdrawal Request has not been submitted prior to the commencement of the Clearing Period (final 48 hours of each epoch), it will be carried over to the next 7-day epoch. ### 💸 Interest Accrual Interest associated with Lenders’ loan balances accrues every epoch (every 7 days) for the specific Tranche, or Single Loan Offer (in the absence of Tranches), based on the below APY explanation. A Lender’s balance is therefore updated with interest earned at the start of every new epoch. ### 📊 Annual Percentage Yield (APY) Given that interest accrues every epoch, **APY** represents the total effective interest return over a year **assuming a Lender leaves both their principal and earned interest in the Lending Strategy without withdrawing funds**. APY therefore takes into account the effect of **compound interest (auto-compounding)**, unlike APR, which only shows simple interest. Therefore, if a Lenders withdraws any funds, their effective interest return may be lower than the stated APY. ### 📈 $KASU Token Price For the purposes of Loyalty Level calculations, the $KASU token price is taken into consideration at the beginning of each new epoch. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.kasu.finance/lending-with-kasu/understanding-epochs-and-clearing-periods/epochs.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.