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Cryptocurrency exchange Bibox launches interest bearing coin lockups

Cryptocurrency exchange Bibox launches interest bearing coin lockups

Cryptocurrency exchange Bibox announced today that at 10:00 (Beijing time) on May 10, they will be launching “CunBiBao” enabling users to earn interest against their coins held on the exchange. BTC, BIX, HPB, BTO, and CPC will be the first available assets and the available time will end at 20:00 May 11, 2018.

CunBiBao is a service based on the digital asset of a project listed and has its own lock position, period, and interest. A Bibox user can invest into a project and the project will then be locked after investment. The interest will be calculated according to the agreed time and distribution with the principal back to the user account when the project ends.

The Rules

1. The available amounts (lockup amount) of each token will be calculated according to the “agreed amount of circulating supply”
2. The minimum lockup interest (annualized returns) will no less than 9%
3. Lock position period (lockup time) 7/14/90 days, etc.
4. Available time is on the project page
5. Interest date (time to calculate interest)
6. Expiry date (time to unlock and pay interest)
7. Payment of interest and principal (time to distribute principal and interest to Bibox account) / 1 day after the expiry date
8. The maximum amount for single lockup (Maximum amount for single lockup, participation times won’t be restricted)
9. The minimum amount for single lockup (Minimum amount for single lockup, participation times won’t be restricted)

To participate, users on Bibox can log in to their account and navigate to “CunBiBao” and then select a project to invest in. The principal and interest will be returned to user accounts within one working day after the unlocking.

Source:Bibox
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