OKX Introduces ‘Shark Fin’ Product to Allow Users to Earn USDT Regardless of Market Movements
- OKX Shark Fin allows users to pick how the price of BTC and ETH will move over a 7-day period, and returns a USDT yield
- Innovative product offers higher yield if user prediction is correct and does not require service fees
VICTORIA, Seychelles, Feb. 08, 2023 (GLOBE NEWSWIRE) — OKX, one of the world’s leading crypto exchanges, has launched Shark Fin, a product that offers users an opportunity for gains no matter which direction the market moves.
The product is a significant addition to OKX’s diverse range of trading tools and offers traders an easy and innovative way to realize a variable return regardless of market movements.
With OKX Shark Fin, users invest their chosen quantity of USDT1 and take a bullish or bearish position on a major crypto asset within a stated price range in a seven-day period. Users then gain the maximum yield2 if the asset ends the period within their chosen range, or receive a basic APY if the asset ends the period outside of their chosen price range. The user’s principal USDT investment is protected throughout the product’s lifespan and no service fees are changed. Current assets offered include Bitcoin and Ethereum.
Lennix Lai, Managing Director of Global Institutional, OKX, said: “Shark Fin is a structured product that gives traders chances to capitalize on potential market movement while protecting their principals. Our goal is to offer a variety of structured products that let traders tailor their strategies accordingly while protecting themselves from downside risk.”
Shark Fin subscriptions open every Thursday at 12:00 UTC and remain open for 24 hours.
Learn more about Shark Fin in OKX’s blog post here.
Or check out Shark Fin here.
For further information, please contact:
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
OKX is one of the world’s leading technology companies building the future of Web3. Known as the fastest and most reliable crypto trading platform for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, the Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
1 Minimum investment amount is 100 USDT
2 Calculation of maximum yield to be determined at point of maturity