What is Simple Earn?

Anúncios What is Simple Earn?

2022-11-04 07:50:01 UTC 90620 Lido

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1.Simple Earn is Gate.io’s new financial product, which matches user’s idle funds with borrowing demands in the market to help generate passive income on users’ lent assets. Lent assets can receive interest according to the APR for the hour.

2.After you subscribe to Simple Earn and make a lending offer, every hour on the hour, based on the offered lending interest rates and the borrowing demands in the market, some of the offers will be matched while some not, and a single interest rate for all eligible lending offers will be determined. Those matched lending offers will immediately receive interests for the hour. Interest received every hour will be invested automatically to earn compound interest.

3.In Simple Earn, you can customize your own lending rate and deposit and withdraw anytime (except for 2 minutes before and after the hour during the hourly settlement period).

4.You need to set a minimum interest rate or lowest APR when you subscribe to Simple Earn. Once the offer is matched, you will receive interests for the hour at the calculated single interest rate. This interest rate is usually higher than the minimum lending interest rates set by users. Once the offer is matched, you will receive interests for the hour at the calculated single interest rate. This interest rate is usually higher than the minimum lending interest rates set by users.

5.Note that for those not lent due to a high minimum interest rate and those redeemed before the hourly settlement, there will be no interests received.

6.Rules of return: If your assets are borrowed successfully on the hour at T, you will receive the interest earned during the following hour at T+1. However, if you redeem your assets before the T+1 settlement, you will not receive any interest for the past hour.

7.On the very start of the next hour after lending, the system will begin to match the lenders' funds with the borrowing demands bidding from the lowest to the highest interest rates according to the borrowing demands until all the borrowing demands are met. The highest interest rate matched will be the single interest rate for that hour, which is in the form of APR.

8.If the APR at that hour > the minimum interest rate you set, your funds will be lent and your will receive interests for the hour.

9.If the APR at that hour < the interest rate you set, your funds will not be lent and you will not receive any interest for the hour.

10.If the APR at that hour = the minimum interest rate you set, part or none of your funds might be lent.

11.In Simple Earn, you can redeem your assets immediately and will receive the assets in real time. Please note that if you apply to redeem assets when the Borrowed Percentage is 100%, which means all lending offers are borrowed, you will receive the assets once there are available funds in the pool. Please wait patiently and interest will keep accruing during this period.

Gate.io reserves the final right to interpret the product.

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