Shark Fin becomes the high-yield product with the highest APR in the market. The updated version launched by crypto derivatives exchange Bitget is now providing risk-averse investors with a 5% yield. The upgrade is intended to expand the exchange’s reach to new communities and make the platform an attractive venue for a broader audience of users seeking diversification and incomes exceeding those of similar products on the market.
The launch of the upgraded Shark Fin product with a boosted 5% APR makes it the highest yielding instrument of its kind in the industry. Shark Fin is intended to serve conservative investors willing to receive guaranteed payouts of principal investments and interest at specific settlement dates. Investors will be able to take advantage of the new APR level for lockups of the funds for a seven-day period. An APR of 1 to 2% was the standard for the same period before the introduction of the update.
Gracy Chen, the Managing Director of Bitget, stated that the launch is aimed at meeting the increasing demands from traders for a high-yield investment option that would exceed the overall profitability of similar solutions offered by other platforms on the market. She added that the update pursues the goal of offering such an option and maximizing returns on investment to attract new players and satisfy the needs of traders currently willing to diversify their operations.
Shark Fin is a capital-guaranteed product that can provide higher yields for cryptocurrencies with stable price dynamics exhibited within the subscription period. Any sudden change in the asset’s price can result in the yield being returned to the basic level of 1 to 2%. Investors willing to further increase their yields will have the option of pursuing up to 24% in APR if certain conditions regarding the investment and subscription period are met in full.
Bitget has already released a similar product earlier – the Dual-Investment. The latter is a non-principal guaranteed instrument that grants investors the ability to earn profits on two types of cryptocurrencies. Dual-Investment facilitates purchase and sale operations for crypto assets, allowing users to earn a profit if the asset’s price reaches a set target at a predetermined period.
The Bitget exchange is currently implementing its new ‘Go beyond derivative’ strategy, which foresees its expansion beyond cryptocurrency space into CeFi with the incorporation of the best instruments and practices from CeFi. The purpose of the strategy is to attract new users and raise overall crypto awareness and adoption.