Bitget Shark Fin AMA

Hello everyone! I'm Lyn, the host of AMA today. I am also the Operation Manager of Bitget English Telegram Community.

To better encourage and educate you guys to participate in Bitget's new product - Shark Fin, here we are holding an AMA in the Bitget English Telegram Community.

Firstly we have prepared a special preheat event for all of you. Cheer up everybody!

Q: Hello Mark! Would you like to introduce yourself and the general idea of Shark Fin to us first?

A: Hi, everyone! This is Mark from Bitget Earn, I am the operation manager at Bitget Earn. My role at our Bitget Earn family is to be responsible for more high-quality projects like Shark Fins to earn coins. In the meantime, I hope you can get a better understanding of Bitget Earn‘s newest product Shark Fins from today’s AMA, and I hope all of you will have a good time.

Q1: Please introduce the Bitget Earn platform?

A1:Bitget Earn is the financial management business of Bitget. The platform focuses on providing professional and high-quality financial management services to users. Users can invest their idle assets or savings into the Bitget Earn platform to manage them more efficiently and earn certain profits.

Bitget Earn team members are all from world-renowned investment banks, risk hedge funds and other professional institutions, and have rich experience in crypto industry investment. They will provide users with professional and reliable financial services.

Q2: What kind of product is the newly launched Shark Fin product?

A2: Bitget Shark Fin is a capital-guaranteed structured Bitget Earn product, an innovative financial product that combines fixed income products with financial derivatives. It has a simple investment approach that is ideal for stable investment users who prefer low risk.

Q3: Why did we launch the Shark Fin product?

A3: With crypto market slumping and several black swan events occurring, users have changed their attitude on investment risk. Market investment returns are declining and it is difficult for users to get significant investment returns. In order to provide users with a safe and more profitable financial option, we decided to launch the Shark Fin product.

Q4: What are the advantages of Shark Fin products over other financial products?

A4: The advantages of the Shark Fin product can be summarized in three points:

1. Guaranteed capital: it is the best financial product for long-term holders, regardless of market fluctuations.

2. High yield: the product will judge the price fluctuation range, and can create a ROI much higher than the market average.

3. One-click purchase: users can subscribe by simply selecting the price range of the corresponding underlying assets.

Q5: How does the Shark Fin product work? How are the returns of Shark Fin products calculated? What are the advantages of Bitget's Shark Fin compared to similar products on other platforms?

A5:The Shark Fin product returns are a combination of two yields. One is a guaranteed return and the other is a floating return.

The principle of Sharkfin's ROI calculation is: during the product observation period, the investor will get a higher ROI if the price is within the predetermined price range. When the price rises or falls outside of the range, the investor will get a guaranteed ROI.

Take this picture as an example:

Price range of BTCUSDT">BTC/USDT is $20,000 to $22,000. The guaranteed APR is 5%, and the APR is 7% to 24% if the price stays within the range. The capital is 10,000 USDT, and the lock-up period is 7 days.

APR scenario one:

BTC/USD T price remains within the price range of $20,000 to $22,000 of Shark Fin. After the 7-day lockup comes the settlement date, and the settlement price of BTC/USDT is $21,500.

APR = 7% + (21,500 - 20,000)/(22,000 - 20,000) * (24% - 7%) = 19.75%

Interest for the user = 10,000 * 19.75% * 7/365 = 37.87 USDT

APR two:

When the price of BTC/USDT ventures is higher than $22,000 or lower than $20,000 (not within the price range), the user will get the guaranteed APR of 5% at the settlement date.

Interest for the user = 10,000 * 5% * 7/365 = 9.59 USDT

The core advantage of Bitget Earn Shark Fin over similar products on other platforms is that its minimum floating ROI will be greater than other products' guaranteed ROI.

Take the pictures above as an example: the minimum floating ROI of Bitget Earn Shark Fin is 7%, but the minimum floating ROI of the same products in other exchanges is 5%.

Q6: What do users need to pay attention to when investing in the Shark Fin product? How should we invest?

A6: Shark Fin Earn product is a capital-guaranteed structured financial product, which is ideal for stable investment users who prefer low risk. It is risky only in terms of a few rules when subscribing:

1. When the market is volatile, there may be slippage and the possibility of settling at a lower interest rate.

2. It is a fixed financial product and the capital cannot be redeemed in advance.

3. On the settlement date of the product, if the price fluctuates drastically and falls out of the price range, investors can only receive the lowest guaranteed return.

4. Shark Fin's "guarantee of capital" is based on coins. Users need to take into account the loss of value caused by a drop in the price of the cryptocurrency itself.

Bitget's Shark Fin product has now gone live. The subscription period is two days, from December 14 at 6AM (UTC) to December 16 at 6AM (UTC), with a 2-hour asset counting period after the subscription ends. Once the assets are counted, the 7-day lock-up period will begin, and the interest accrual period will start at 8AM (UTC) on December 16, during which time early redemption of assets is not allowed.

The capital and interest will be received within 24 hours after the completion of the lock-up period (UTC).

If you would like to subscribe to the Shark Fin product in this round, you can click on this link to go directly to the subscription page and start your Shark Fin journey.https://www.bitget.com/shark

And right now we are running a learn to earn BGB scholarships event, feel free to join:

https://forms.gle/CSBSUsZq2ppsjExu6

and there is a promo video of Shark Fin: https://youtu.be/olX3agJPzFE

Thank you guys for being here. Have a nice day!

Farewell!