Bitget, leading crypto derivatives and copy trading platform has announced the update of its Shark Fin products, which have received a major yield boost. The new APR has been raised to 5%, making it the most profitable product of its kind on the market.
The Shark Fin product lineup has received its moniker thanks to the yield curve it follows, which resembles a shark fin. The instrument is perfectly suited for risk-averse investors seeking guaranteed payouts. The users’ principal and basic interest are protected and guaranteed, ensuring payment at the time of settlement. The updated 5% APR is accessible for a seven-day lockup period, exceeding the standard basic APR 1 to 2% that had been applicable before the update.
The capital-guaranteed Shark Fin product provides even higher yields for assets that experience stable price ranges within the subscription period. The basic yield will be applicable in case of sudden fluctuations in the asset’s price during the period in question. Shark Fin is best suited for conservative investors, while those with high risk appetites may pursue higher yields of up to 24% instead of the new basic 5% if certain conditions are met.
“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,” as Gracy Chen, the Managing Director of Bitget commented on the launch of the new product.
The launch of the updated version of Shark Fin is part of the exchange’s ‘Go beyond derivative’, which focuses on the introduction of innovative products from the worlds of CeFi and DeFi. The strategy is aimed at attracting more users seeking diversified investment options.
Bitget is also expanding its outreach program with the launch of the Dual-Investment financial product – a non-principal-guaranteed instrument providing profit-earning opportunities on two cryptocurrencies. The purpose of the product is to facilitate sales and purchases of crypto assets at low prices for future resale at a markup at a predetermined date if the price reaches the target set by the user.
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Source: https://cryptodaily.co.uk/2023/03/bitget-ramps-up-shark-fin-product-arp-to-5-highest-in-the-industry