Bybit launched a new structured product called Bybit Shark Fin for all users yesterday (the 1st of August 2022). Bybit Shark Fin is a low risk, principal protected, structured product that provides better capital protection to users as they reap profit. Users deposit their funds onto the platform and yield a profit based on the performance of their strategy. Users of Bybit’s ultra fast trading platform can therefore deposit stablecoins such as USDT or USDC to earn relatively well at low risks.
The final yield is calculated based on the settlement price of the underlying asset when the plan expires in comparison with the preset price range. There are time periods to choose from between 7 to 21 days at the end of which if the final price is within the preset range, then users can receive a maximum yield of up to 20%. If the final price is below or above the range they can receive up to 3% or 10% respectively.
The product also has strategies inbuilt to speculate on the trends of the prices of the underlying assets. In case of a rapid fluctuation in whichever direction within the product parameter range, subscribers have a better chance at achieving the best yield.
“Bybit has a wide range of products suitable for every investor, and Bybit Shark Fin is a fantastic addition to our specialist suite of yield-generating products. This trading product is perfect for users looking for a simple, low risk investment that is settled at regular intervals” said Ben Zhou, co-founder and CEO of Bybit.
Bybit is the latest addition to Bybit earn which is an asset management platform that includes Bybit’s dual asset and liquidity mining pool features.
About Bybit:
Bybit is a cryptocurrency exchange that offers a professional platform where crypto traders can find an ultra fast matching engine, excellent customer service and multilingual community support