Dear BitMart Users,

 

BitMart Lending has officially launched our very first “High-Yield Lending Carnival” Promotion. Lend with OKCash (OK), ExtraDNA (XDNA), MrWeb Finance (AMA), Uberstate RIT2.0 (RIT20), SparkPoint (SRK), and Official Mars Token (OMT) to earn up to 61.8% APY, plus 20,000 USDT prize pool. 

• Listing Time: 7/1/2021 10:00 AM EDT
• Subscription Period: 7/1/2021 10:00 AM EDT to 7/7/2021 10:00 AM EDT
• Locked Lending Format: First come, first serve.
• Interest Calculation Start Date: 7/7/2021 10:00 AM
• Interest payout time: 8/6/2021 10:00 AM EDT

 

Offered Products:

>>> Join Lending Now：OK, XDNA, AMA, RIT20, SRK, OMT

 

Example, User A has subscribed for 2,400 OMT with a 30-day lock-up period. According to the above list, after the product matures, the interest earned by user A is 2,400 * 50% * 30/365 = 98.63 OMT.

💰 Extra Rewards to Users - 20,000 USDT Prize Pool! (From BitMart)

Users who join the first three lending products that are fully subscribed will be able to share the extra reward pool of 20,000 USDT proportionally. 

 

*Users whose subscribed value greater than or equal to 300 USDT will be eligible for the extra rewards。

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What is BitMart Lending?

BitMart Lending is a financial product based on digital assets. Each project has its corresponding investment term and yield. After subscription, the principle will be locked, and the interest will be calculated according to the agreed time. After the product matures, the principal and interest will be unlocked and distributed into the user's wallet on the redemption date.

 

How to use BitMart Lending?

• Each project will have a subscription period and users can subscribe within the period with limited volume, first come first served.
• Please make sure there are enough available funds in the account when subscribing. Our system will calculate the interest of the expected return after redemption according to the subscription volume.
• After the successful subscription, our system will change the status of account assets from available to locked. Users can check the details of the assets held on their assets page.
• When the product matures, it will be redeemed automatically, and the principal and investment return will be paid at once. Users can check the balance status in the assets list, and the income will be notified by SMS or email after distribution. Users may also check it in their distribution records.

 

Terminology Explanation

• Annualized interest rate: annualized interest rate refers to the rate of return gained during the investment period of one year;
• Subscription cycle: the period from the beginning of subscription to the end of the subscription. If the period of subscription is not over, the product will not be counted into interest calculation;
• Cycle: cycle refers to the time when their assets are locked. During this period, the fund is locked and cannot be traded or withdrawn by the user;
• Total amount / Total subscription amount: it refers to the total amount of financial products issued;
• Time of interest accrual: the time of interest (return) accrual after subscription;
• Expected revenue:  expected revenue refers to the revenue based on known information if there are no unexpected events happening. The platform calculates the income formula with subscription amount * annualized interest rate * lock-up days / 365.
• Redemption date: the ending date of the investment product when the payback automatically returns to the available balance.

 

 

 

NOTE：BitMart reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

 

More BitMart Lending phases and new products will be coming soon. Please check our announcement regularly so you won't miss out!

 

Again, thanks for your support! 

 

BitMart Team

July 1, 2021