Hodlnaut’s Tiered Interest Rates Explained
Market uncertainty has been on the rise. With the price of Bitcoin hovering between $30K to $40K and ongoing price swings of other currencies, Hodlnaut has decided to revise our interest rates to reflect market conditions. Our primary aim is to offer the best risk management policies while ensuring maximized earning opportunities for users. Thus, this decision has been made to ensure our users receive the best experience on our platform while maintaining sizable yields amidst market volatility.
The revised rates and introduction of tiered systems reflect Hodlnaut’s mission of continuously offering optimum interest rates on cryptocurrencies. Hodlers can earn interest in the crypto asset of their choice from the six supported assets: BTC, DAI, ETH, USDT, USDC, and WBTC.
Previously, Hodlnaut offered an APY of 6.2% for BTC and WBTC, 6.7% for ETH, and 10.5% for USDC, USDT, and DAI. With effect from 9 August 2021, the new rates and tiers are as follows:
Unsure of how it works? We break it down for you.
Bob deposits 100,000 USDT into his Hodlnaut account. He will earn an interest of 12.73% APY for his first 25,000 USDT. Subsequently, he will earn an interest of 7.25% APY for his remaining 75,000 USDT.
If he deposits 50 BTC, he will earn an interest of 7.46% APY for his first 2 BTC. He will then earn 4.08% APY for the next 8 BTC, and 2.02% APY for the remaining 40 BTC.
Essentially, the deposits will be broken down to fit the corresponding tiers. This would mean that users can now earn up to 12.74% APY on their crypto assets. The interest will be calculated at the end of every day and deposited to the user’s account every Monday, 5 pm (GMT +8).
While there has been an increase in the number of reports around the adoption of crypto and blockchain technology, market volatility with cryptocurrency prices is prevalent. Hence, we have made the decision to revise our interest rates accordingly. We are confident about the increasing adoption of cryptocurrency as the market picks up pace.
As mentioned, the change has been implemented as part of Hodlnaut’s mission to deliver a high-quality experience for our users while ensuring they are able to receive substantial gains on their crypto assets.
If you have any questions, do feel free to reach out to us by sending an email to firstname.lastname@example.org and we’ll get back to you as soon as possible.