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Nope, you're misunderstanding

It's 48% AFTER all the exits from the LP (NOW is at 48%).

Consequently, since some people left the LP, APR for the pool is at ~20% (increased from 16-18% a week ago)

Okay, thanks for clarifying. I started getting some PWR after staking all of mine, so I just wanted to stay abreast of everything PWR APR