Matrixport, an Asia-Pacific-based crypto-asset financial services platform, today announced the launch of ‘BTC-U Range Sniper’, a first-mover product, which enables participants to earn higher returns when the price of Bitcoin (BTC) moves within a specified range.
‘BTC-U Range Sniper’ offers annualized yield (APY) of between 6% to 200% in either USDT/USDC or BTC depending on the price of BTC upon settlement.
If the settlement price is above the given range, the minimum APY of 6% is paid in USDC; if the settlement is below the given range, the principal will be converted to BTC with a minimum guarantee of 6% APY also. Further, if the settlement price falls within a settled range, up to 200% APY in USDC can be earned.
“Stablecoins are an important fiat on-ramp pathway and has been a great entry point for the crypto curious. However, many stablecoin holders now desire to accumulate BTC whilst earning higher yields. ‘BTC-U Range Sniper’ is a crypto investment product where we empower users to continue to earn attractive stablecoin yields or ride BTC’s innate volatility to accumulate more BTC.”
– John Ge, Co-Founder & Chief Executive Officer, Matrixport
Starting from today, September 6th, 2021, users can reserve the product during a fundraising period from 18:00 to 20:00 SGT, and every Monday thereafter.