Fixed & Flexible Earn

Fixed & Flexible Earn

1. What is Flexible Savings?

Flexible Savings allows users to earn interest on their subscribed assets without locking them. Spot account holdings are regularly snapshotted to calculate interest. Assets remain available for trading or withdrawal anytime.


2. What is Fixed Savings?

Fixed Savings allows users to earn higher interest on assets locked for a specific period. Funds are frozen in the Spot account until maturity. Assets cannot be withdrawn or traded before the end of the lockup period.


3. How to Start Earning?

Step 1: Access the Earn Function
- Log in to your account.
- Navigate to the "Earn" section.

Step 2: Choose Your Product
- Browse available Earn products.
- Click "Earn" to proceed.

Step 3: Deposit & Confirm
- Enter the amount you wish to deposit.
- Agree to the terms & conditions.
- Click "Start Earning."


4. Frequently Asked Questions (FAQs)

Q: When will I receive interest on Earn products?
Answer: Interest will be credited to your Earn Wallet based on product type:
- Flexible Deposits: Daily at 14:00 UTC. (No interest for deposits held less than 24 hours).
- Fixed Deposits: On the maturity date (No interest before maturity).

Note: Interest is rounded to 8 decimal places.

Q: How do I redeem my Earn products?
Answer: Go to the "Wallet" > "Earn" section.
- Find the Earn product and click "Redeem."
- Enter the redemption amount and confirm.

Q: Can I redeem Fixed Deposits before the expiry date?
Answer: Yes, you can redeem early, but no interest will be earned.


5. Interest Calculation Methods

Simple Interest Calculation
Formula: Principal × (Interest Rate × Days / 365)

Example:
7-day fixed deposit at 0.131% APY
Deposit: 1000 USDT
Interest = 1000 × (7 × 0.131% / 365) = 0.02512328 USDT
Compound Interest Calculation Formula: Principal × (1 + (Interest Rate / 365))^Days - Principal

Example:
Daily interest rate: 0.535%
Deposit: 1000 USDT for 7 days
Interest = 1000 × (1 + (0.535% / 365))^7 - 1000 = 0.10260725 USDT


6. Annual Percentage Yield (APY) Calculation

APY estimates yearly returns based on compounding interest.


7. Auto-Renewal for Earn Products

Auto-Renewal Options:
Flexible Deposits: No auto-renewal needed; interest is earned daily.
Fixed Deposits: Auto-renewal is enabled by default but can be turned off.
To disable auto-renewal: During deposit process or In Earn Wallet Management Panel.


8. Checking Interest Revenue History

Go to "Wallet" > "Earn"
Click the "History" button to view earnings.

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