Matrixport, a digital asset trading, custody and lending startup founded by Bitmain co-founder Jihan Wu, has announced a new wealth management product called “Dip Hunter.”
Dip Hunter provides an Automatic Investment Plan (AIP) feature to bring greater flexibility for investors utilizing Matrixport’s digital asset management platform. The Dip Hunter helps investors to purchase BTC at a lower price without having to constantly monitor market conditions.
Volatility in the cryptocurrency market is a regular occurrence. Traders and investors tend to spend much time analyzing market conditions to determine whether they should buy or not. With Dip Hunter, much of this effort is eliminated through the AIP feature.
Dip Hunter helps investors to acquire bitcoin (BTC) at a discount. This product carries an investment logic similar to Matrixport’s dual-currency investment products; which determines the settlement currency based on the ‘linked price’.
When the settlement price is higher than the linked price, investors will get a settlement in USDC; otherwise, their investments will be settled in BTC. Dip Hunter operates in a similar fashion. Investors can acquire more BTC at lower prices – the only uncertainty is whether the price they acquire bitcoin at is a discount to the settlement price on expiry, or the strike price.
Users can buy BTC at a price that is lower than the linked price or market price when a product expires. Previously, users could only make BTC purchased at the current market price; but with Dip Hunter, users now have the opportunity to potentially purchase at 5% below the market price.