Place/Date: - March 10th, 2022 at 12:01 am UTC · 3 min read
Source: Huobi Global
Huobi Global, one of the world’s leading digital asset exchanges, today announced the launch of its 5th Prime Earn event, which aims to help its users to hedge risk while also obtaining stable profits amidst a volatile market. PrimeEarn is a premium investment product under Huobi Earn that provides crypto investors with high annualized percentage yields (APY) for depositing mainstream and popular tokens.
PrimeEarn’s latest event will reward investors with high APYs ranging from 5% to 19%. Users will be able to deposit mainstream assets including USDT, ETH, HUSD, and UST. There is no individual cap and the total deposit pool is US$170 million.
Huobi PrimeEarn has proven popular since its launch in December, 2021. The most recent event, the 4th PrimeEarn, saw the fixed products ETH and USDT sold out in a mere 12 hours and 2 days, respectively.
In contrast to competing platforms which set tiered APY structures, Huobi sets no tiered APY regardless of the deposit amount. This enables users, especially those with deep pockets, to enjoy higher actual returns.
Assuming crypto investor Sarah deposits 1,000,000 USDT and 1,000 ETH for 14 days with Huobi Earn, at an APY of 8% and 5% for USDT and ETH deposits, she will receive earnings of 3068.5 USDT and 1.9 ETH respectively at the end of the two deposit periods. However, she will only receive 269 USDT and 0.038 ETH if she deposits the same amount with Binance, due to the tiered APY set. Therefore, with the same deposit amount, the actual profits Sarah stands to earn with Huobi could be 49x higher than a competing product from Binance.
Jeff Mei, Director of Global Strategy at Huobi Global, said:
“By offering high APYs for depositing popular assets, the PrimeEarn platform has been well-received by a large number of investors. In order to keep the momentum going, we’ve decided to launch PrimeEarn events every Wednesday, so users who favor fixed deposits will have an excellent opportunity to gain attractive returns on their investments.”
To participate in the latest PrimeEarn event, click here.
Huobi Group, a world-leading blockchain company, was founded in 2013 to make breakthroughs in core blockchain technology and further the integration of blockchain technology with other industries. Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more. Huobi Group has established a global digital ecosystem through investing in over 60 upstream and downstream companies across the blockchain industry.