BitMart, a bitcoin and cryptocurrency exchange platform, has now begun the second installment of its term-based interest-earning account service. BitMart Lending Phase II offers 30-day basic along with 7-day and 60-day premium subscription types.
Each coin has a corresponding investment term and yield. After subscribing, the principle is locked and interest is calculated according to the agreed time. When the product matures, the principal and interest are unlocked and distributed back to the user’s wallet on the redemption date.
See the Phase II product list below for more details:
Example: User A has subscribed for 1 BTC with a 30-day lock-up period. According to the above list, after the product matures, the interest earned by user A is 1 * 5% * 30/365 = 0.00410959 BTC.