Cryptocurrency exchange Bybit has launched a new structured product Bybit Shark Fin for all users on 1 August, 2022.
Bybit Shark Fin is a low-risk, principal protected structured product that affords better capital protection to users as they reap profit. Users deposit their funds into the product and receive a yield based on the performance of the strategy. The underlying strategy utilises up-and-out call options to generate the yield.
This means users of Bybit’s ultra-fast trading platform — processing up to 100K transactions per second — can deposit stablecoins, such as USDT or USDC, to earn attractive yields with lower risk.
The final yield is calculated based on the settlement price of the underlying asset when the plan expires, in comparison to the preset price range. There are time periods to choose from between seven and 21 days.
At the end of the time period, if the final price is within the preset range, users can receive a maximum yield of up to 20%. If the price settles below or above the range they can receive up to 3% or 10% respectively.
The product includes bullish or bearish strategies that speculate on whether or not the price of the underlying asset will rise or fall. Therefore, in a situation where market prices fluctuate rapidly in either direction within the given product parameter range, subscribers have a better chance at achieving the best yield.
In a risk-off environment, many people are holding stablecoins, and seeking a low-risk yield for their capital. Bybit, with its commitment to world-class security, an insurance fund, and 24/7 customer service in multiple languages, is a popular choice for investors looking to earn yield on their stablecoins.