Bitget boosts Shark Fin with 5% base APR

Crypto-exchange Bitget announces an updated version of its Shark Fin product, increasing the base APR (or Annual Percentage Rate) by 5%.

Bitget and the Shark Fin product with base APR at 5%

Bitget has announced the updated version of its Shark Fin product, with a major increase in the yield the product pays. This is a base APR of 5%, allowing the crypto-exchange to place itself above similar solutions on the market.

The new increase in base APR to 5%, compared to the previous APR of 1-2%, was made possible by better optimization of mining pool returns.

Shark Fin is a simple and optimal investment instrument dedicated to conservative investors who prefer lower risk and steady income. Its name refers to the yield curve, which precisely resembles the fin of a shark emerging from the water.

Being a capital-protected product, Shark Fin can guarantee users the principal and basic interest upon liquidation. Not only that, now thanks to the new updated version, users will be able to earn a guaranteed base APR of 5% for the duration of the seven-day lock-in period.

Bitget and the updated Shark Fin product

In addition to returns based on 5% base APR, users who subscribe to Shark Fin can also earn extra high returns upon liquidation. This is only possible if the liquidation price remains within a certain price range during the subscription period.

Alternatively, investors can receive base returns only if the liquidation price exceeds or exits the specified price range during the subscription period.

With Shark Fin, investors can potentially earn up to 24% APR or get a guaranteed base APR of at least 5%. The principal and interest are automatically redeemed on the settlement date.

In this regard, Bitget CEO Gracy Chen said:

“We are excited to announce the latest upgrade to our Shark Fin product, which is aimed at meeting the increasing demand from traders for high-yield investment options in the crypto market, and improving the overall profitability of investing. With Shark Fin, users can now access even higher basic APR, enabling them to maximize their returns on investment.”

Chen also adds that Shark Fin is also the result of the platform’s ongoing efforts to ‘go beyond the derivative,’ seeking to combine the best of CeFi and DeFi.

Official sponsor of Juventus women’s team

On the occasion of International Women’s Day, which is celebrated on 8 March, Bitget announced that it has become an official sponsor of the Juventus Women’s team.

Juventus Women is one of Italy’s most successful soccer teams, winning 5 Scudetti, 2 Italian Cups and 3 Italian Super Cups.

Still on the topic of women, Bitget also pointed out that 40% of its employees who also hold managerial roles are women and that the exchange is an equal opportunity employer.

In this way, the crypto-exchange reinforces its efforts to attract a female audience to the cryptocurrency space, which is still dominated by men.