> For the complete documentation index, see [llms.txt](https://compound-1.gitbook.io/compoundtutorials/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://compound-1.gitbook.io/compoundtutorials/chapter-2-markets-utilization-and-interest-rates/4.-interest-rate-parameters.md).

# 4. Interest Rate Parameters

Every Comet contract has its own set of parameters that define how interest rates behave:

• Base Rate: The baseline interest rate when utilization is near zero.

• Slope Low: How fast the rate climbs below the kink.

• Slope High: The steeper rate of increase once the kink is surpassed.

• Kink Utilization: The specific utilization percentage at which the slope switches from low to high.

Governance sets these parameters for each Comet, so a USDC-based Comet could have a different kink or slope from an ETH-based Comet.