PrimeEarn everyday event concludes with deposits in excess of US$300 million
Huobi Global, one of the world’s leading digital asset exchanges, announced the launch of its PrimeEarn Everyday event last week, with an aim to incentivize crypto investors to hold their assets for longer periods. One of several planned promotions under Huobi Global’s Lunar New Year campaign, Prime Fest: Tiger Year, the PrimeEarn Everyday event has been popular among investors, with the total amount staked in the first three days exceeding US$300 million.
Offering high Annual Percentage Yield (APYs) for staking assets, the PrimeEarn events have proven well-received with investors since the program’s launch on Dec 22 2021. During the PrimeEarn Everyday promotion, the platform also introduced seven Metaverse tokens for investors interested in the non-fungible token (NFT), decentralized finance (DeFi), and GameFi fields, including Polygon (MATIC), Terra (LUNA), Solana (SOL), Avalanche (AVAX) and Fantom (FTM). The 14-day APYs for these tokens range from 12% to 50%.
Given how many yield products in the crypto market are flexible deposit products with low APYs , the PrimeEarn event also provides 30-day staking products for mainstream assets such as Tether (USDT), USD Coin (USDC), Bitcoin (BTC) and Ether (ETH). The APYs offered for these assets are as high as 12% — nearly twice the yields of competing products in the market. All of these mainstream asset products were sold out in four days, with the BTC products sold out within three hours.
Apart from the high APY received through staking assets, users can also gain value from the price increases of their assets. The total fixed earning rate (30 days and 14 days) for these assets can reach up to 1.92%, and the income from the price increase of a PrimeEarn asset can reach up to 22.27%. For instance, an investor will be able to earn 0.82% of his staked amount if he deposits BTC for 30 days. Assuming a BTC investor staked 10 BTC from Jan 31 2022; he would be able to earn 1.69 BTC (≈74731.29 USDT) as of 17:00 on Feb 10 2022, including 0.03 BTC from fixed earnings and 1.66 BTC* from the price increase in BTC.
*(Note: The price of BTC rose from 37935.35 USDT to 44219.7 USDT during this period)
“We’re trying to diversify the assets we offer for fixed earning and have set no cap on the amount of assets investors wish to deposit; reception was largely positive,” said Jeff Mei, Director of Global Strategy . “People were attracted by our wealth of assets offered and high APYs, and we’re ecstatic to see that they’re satisfied with their earnings.”
PrimeEarn endeavors to expand its product offerings so investors can continue to enjoy the most attractive APYs. At the beginning of March, Huobi Global will introduce a new PrimeEarn event with special rewards. To invest and manage assets on PrimeEarn, click here.
Disclaimer: This is a paid post and should not be treated as news/advice.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Kanak Naik, @Khareem Sudlow