Cryptocurrency exchange Bybit has added Shark Fin structured product to Bybit Earn asset management platform. This was reported to Forklog by representatives of the trading platform.
Shark Fin is an option-based product with a guaranteed minimum return. The amount of additional profit depends on the price of the underlying asset at the time of expiration.
Bybit Earn features bullish and bearish Shark Fins with expiration dates of 7, 14 and 21 days.
“This tool is ideal for users who require low-risk investments with a regular settlement interval,” comments Ben Zhou, co-founder and CEO of Bybit.
Users can deposit Tether (USDT) or USD Coin (USDC) stablecoins. The minimum investment amount is 100 USDT or 100 USDC. There is no upper limit, but the number of available subscriptions is limited.
Example: the user buys bullish Shark Fin BTC with a range of $44,000-$48,000. Depending on the value of bitcoin at the time of expiration, the yield will be:
- 2% per annum at $42,000;
- 14% per annum at $47,000;
- 8% per annum at $50,000.
Bybit is a crypto derivatives exchange with over 230 trading pairs. Users have access to spot and futures markets, staking and DeFi mining services, as well as an NFT marketplace and P2P trading.
Recall that in June Bybit launched pools for liquidity mining with a yield of up to 30% per annum.
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