What Is BTC Lending:
BTC Lending is a fixed-term, principal-protected, floating-rate wealth management product. The settlement token is the same as the deposit token. The annualized interest rate on this product is not fixed, and it depends on the movement of Bitcoin price during the investment period.
- Participation time: Feb 11 18:00:00 2020-Feb 13 00:00:00 (UTC+ 8:00)
- Annualized Interest Rate is between 2% - 9%, 44-day cycle, and the total quota is 100 BTC.
- Benchmark Price: 8500 USD - 13000 USD
- The annualized interest rate is affected by the fact whether Bitcoin price has crossed the benchmark price or not during the investment period.
- The settlement price is the average of the BTCUSD prices of 7 exchanges (Bitstamp, Bittrex, Coinbase Pro, Gemini, Kraken, Itbit, LMAX Digital). It is calculated by taking the average price after removing the highest price and the lowest price.
- The interest accumulation time: 00:00 on Feb 13 to 24:00 Mar 27 UTC+8
Let’s say you subscribe one-month BTC Lending (Value date: Jan 21, 2020, Redemption date: Feb 22, 2020) with 1 BTC, during the investment period, if Bitcoin price ever moves above 10,500 USD or below 7,500 USD, your annualized interest rate on this wealth management product will be 3%; if Bitcoin price stays in range of 7,500 USD to 10,500 USD, the annualized interest rate will be 3% to 10%, depending on the movement of Bitcoin price.
Note: Regardless of the movement of Bitcoin price, the interest will be paid in Bitcoin (BTC).
- BTC Lending is a fixed-term, principal-protected, floating-rate wealth management product. You are advised to consider various factors such as your own financial situation, investment objectives, and risk tolerance prior to making investment decisions.
After you have subscribed to BTC Lending, your funds are locked. You can only redeem your funds after the product matures. The total deposit amount for BTC Lending is 100 BTC, and the minimum deposit amount is 0.1 BTC. The deposit must be a multiple of 0.1 BTC.
- The product is 30-day fixed-term which means you cannot exit until the product matures.
The settlement period is 2 days, which means after the product matures, the principal and interest will be distributed to your account in 48 hours. (Please note that you will not earn interest during the settlement period.)
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Feb 10, 2020