Gate. io 29th BTC SharkFin's Stayed Within the Ideal Range, Locked 6 Days Interest Rate up to 11.16% Announcement

The “Gate Weekly BTC Sharkfin Product #29" launched on August 14th, 4:00 am UTC. During the observation period, the price of BTC has always been in the range of [$42,500-$49,500], hitting the high-yield area. The settlement price of this Sharkfin product is $46,891.42. Congratulations to participating users who can get 11.16% annualized BTC revenue in 6 days, and the total interest benefit exceeded $1.64 million.



The interest has been paid to user accounts. Users can go to “Billing Details” to view the rewards they have received.



Gate Weekly BTC Sharkfin Product #29 Revenue Calculation:

The settlement price: $46,891.42

The settlement annualized = 3%+（46891.42-42500）/（49500-42500）*（16%-3%）=11.16%

Details: https://www.gate.com/en/article/21910



Every Saturday at 12 noon, Gate HODL& Earn will launch a new issue of its BTC SharkFin product. The 31st phase of SharkFin structured product will be launched this Saturday (28 August) at 4:00 AM UTC, with an estimated return of 3%-16% P.A. The total lock-up amount is capped at 300 BTC, with a lock-up period of 6 days.



HODL& Earn products will be launched later, please follow Gate reminders and announcements.





What is a Shark Fin Product?

Gate Shark Fin is a capital protected investment product. If the
underlying asset price is within the pre-specified range, the investor
will get a higher yield. Otherwise, the investors will get a minimum
return (about 3% APR).