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QEP encoder connection and value

Hi everyone

I am using HVDMC Kit. My motor have resolver. I bought a resolver to encoder converter card. I check the output of the card and it is pluses which change with the speed of the motor. Before I connect this card with the  HVDMC Kit, I checked the  connection of QEP and I found there are some pins have +5V. I connected the converter card with the kits and I found that the output of the card has an offset of +5V. Is that offset correct?

Thanks