BigONE Officially Launches BTC Lending

Dear BigONE users,

In order to provide more wealth management options, BigONE will launch "BTC Lending" at 16:00 (UTC+8), on January 22.

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.

Product Information

• Participation time: January 22 16:00:00 2020-January 23 00:00:00 (UTC+ 8:00)

• Annualized interest rate is between 3% - 10%, 30-day cycle, and the total quota is 100 BTC.
• Benchmark Price: 7500 USD - 10500 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.

Example:

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).

Terminology

Deposit Token

The deposit token is the token in which you need to purchase the investment product. For BTC Lending, the deposit token is Bitcoin (BTC).

Settlement Token

The settlement token is the refund token you will receive after the product matures. The settlement token of BTC Lending is the deposit token.

Maturity Date

The maturity date is the date on which the investment product matures, and also the date on which the interest stops accruing.

Annualized Interest Rate

The annualized interest rate is an estimated, annualized rate of return for the product. It does not take compounding into account. The formula for APR is: Annualized Interest Rate = interest / principal / investment duration * 365 * 100%.

Benchmark Price

The annualized interest rate is affected by the fact whether Bitcoin price has crossed the benchmark price or not during the investment period.

Settlement Price

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.

Participate Here:

【Tips】

1. 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.

2. 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.

3. The product is 30-day fixed-term which means you cannot exit until the product matures.

4. 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.)

Thanks for your continuous support and love.

BigONE Team

January 22, 2020