darkMoon
Hey, welcome ! This forum is mostly used for governance so you wont get a lot of answers here, please come to the discord and ask in the #questions channel (https://discord.gg/a9bN4YWq - Note: This one is fine, but in general please don't trust random links, always source from official website/twitter. On the discord, please be wary of people dming you pretending to be "support" or whatever, they are 100% scammers.)
To answer you, Aliceundbob is correct because it is compounded.
If you have 1 sOhm at time t and get 0.012 sOhm after 24 hours, you have 1.012 sOhm at t + 1. So at t + 1, you are now earning on 1.012 sOhm and not 1 sOhm anymore, so you're now earning more ohm per 24 hours. You're getting more and more ohm everyday as long as the reward rate stays fixed. It is what compounding means.
The formula of aliceundbob is the right one: You start with 1 sOhm, after 365 days, assuming the reward rate is 1.2% per day, you get 1 * (1.012 365) = 7778% APY after one year.
