1. What is Toobit Earn?
Toobit Earn is a digital asset investment platform developed by Toobit, offering both Fixed and Flexible Earning options. It allows users to grow their holdings with a variety of cryptocurrency products. Simple, secure, and designed to help increase the value of your digital assets over time.
2. About flexible earning product
(1) What is the flexible earning product?
Flexible Earning is a flexible digital asset management product offered by Toobit, allowing users to subscribe and redeem at any time while providing high liquidity and stable returns.
(2) Interest calculation rules for flexible earnings: The flexible-term interest rate adjusts dynamically in real time based on market fluctuations. Interest accrual is calculated on an hourly basis, and the total interest earned over 24 hours is consolidated and credited to your Earn account.
(3) Example: User A successfully subscribes to the product at 2024-12-11 11:34 (UTC).
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Interest accrual Start Time: 2024-12-11 12:00 (UTC).
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First Interest Distribution: 2024-12-11 13:00 (UTC).
(4) Redemption rules for flexible earnings
You can redeem your assets at any time after a successful subscription, with no redemption fees.
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Instant settlement: In line with daily redemption limits, if the cumulative redemption amount for the day (including the current request) is within the set limit, funds will be credited instantly. For example, if the daily USDT redemption limit is 100,000 and the total redemptions for the day have not exceeded this threshold, the system will ensure real-time settlement.
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Queued redemption: If the daily redemption cap is reached, any excess amount will be queued and processed on the following day, subject to the daily limit. The redeemable amount for the next day is determined by: Daily Redemption Limit – The total Amount Redeemed on the Current Day.
3. About fixed earning product
(1) What is the fixed earning?
Fixed Earning is a Toobit Earn product that helps you earn higher interest in your idle crypto assets. Upon maturity, the funds will be automatically redeemed, and both principal and interest will be credited to your spot account.
(2) Fixed earning income calculation: The interest for Fixed Earning products is estimated by distributing the total earnings after maturity across each day. This amount is then reflected in the valuation of your Earn account.
(3) Example: User A successfully subscribes to the product at 2024-12-11 11:34 (UTC).
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Interest Accrual Start Time: 2024-12-12 00:00（UTC).
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First Interest Distribution: 2024-12-13 00:00（UTC).
(4) Redemption rules
Fixed-term products will be automatically redeemed at maturity, with both principal and interest credited to the spot account.
(5) Early redemption rules
Early redemption will deduct any accrued interest, and funds will be credited within 48 to 72 hours. Once confirmed, the redemption cannot be reversed. Early redemption is only available for certain fixed-term products. Please refer to the product details for specific rules.
4. How is interest calculated?
If the subscription currency differs from the interest currency, the interest will be converted into the interest currency at the prevailing exchange rate at the time of interest distribution.
(1) The interest for flexible-term products is calculated
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Tiered Interest: Different annualized interest rates are applied to various investment tiers. The calculation formula is as follows: Tiered Interest = ((Amount in Tier 1 × Annualized Interest Rate for Tier 1) + (Amount in Tier 2 × Annualized Interest Rate for Tier 2) + … + (Amount in Tier N × Annualized Interest Rate for Tier N)) / 365 / 24
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Fixed interest: The calculation formula is as follows:
Fixed Interest = Subscription Amount × Annualized Interest Rate / 365 / 24
(2) The interest for fixed-term products calculated
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Tiered interest (Example):
Tiered interest is calculated by applying varying annualized interest rates to different investment amounts based on predefined tiers. The formula is as follows:Tiered Interest = ((Amount in Tier 1 × Annualized Rate for Tier 1) + (Amount in Tier 2 × Annualized Rate for Tier 2) + (Amount in Tier 3 × Annualized Rate for Tier 3) + ... + (Amount in Tier N × Annualized Rate for Tier N)) / 365
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For a unified annualized interest rate, the fixed interest is calculated using the following formula:
Fixed Interest = Subscription Amount × Annualized Rate / 365
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These rules are similar to those applied to flexible-term products.
(3) Early redemption for fixed-term products: In the event of early redemption, any interest that has been accrued will be deducted, and the principal will be refunded accordingly.
5. What does APR mean in Earn products?
APR (Annual Percentage Rate) is the annualized return rate of a financial product, calculated by extrapolating the product's expected return over the course of one year.
6. When will users' funds be deducted after depositing into the Earn product?
Users' funds will be transferred from the spot account to the Toobit Earn account on the deposit day, with no effect on the total account balance. Users can view their Toobit Earn account assets at any time.
7. Where can I view my purchased products?
In your Earn account, select a product type to view all the products you have purchased, along with details such as the currency, estimated annualized interest rate, accumulated earnings, and more.
8. Can I participate in multiple Earn products at the same time?
Yes, you can purchase multiple flexible or fixed-term products based on your funds, and the returns from each product will not be affected by others.
9. Why do my interest payments fluctuate?
Interest payments may fluctuate due to market conditions and the changing trends in the crypto industry. These variations are a normal part of the investment process.
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