The crypto and the financial market at large are full of uncertainty, risk, and losses. Not everyone has an appetite to endure risk and high losses because of the volatility in the crypto market. BIB EARN program is a substitute to protect users from the risk attached to the crypto market and at the same time provide an avenue to make a profit.
THE BIB RICH RUSH program is a financial instrument with a fixed interest rate. It allows the user to choose from different APR and different token pools. The staking program which is part of the general financial instrument in the crypto market can be flexible, fixed, or compounding. At the same time, it can include different token pools which can be stablecoin or other cryptocurrency assets.
RICH RUSH CAMPAIGN.
The Rich rush campaign is the first earn program of BIB exchange providing users the chance to select from different pools and earns a fixed amount on their investment. The aim is to provide an avenue for those who don’t want to take the risk in active trading and at the same time want their assets to give a certain amount of income without any fear.
The program was designed to meet each category of individual financial capability and the estimated period to stake their assets for a fixed time. To enable flexible participation, the campaign was divided into different segments, each tailored to user preference.
NEW USER REWARD:
The first category is for New user who stakes for the first time. On each category of the staking pool, new users enjoy an additional percentage reward added to the normal percentage for each staking pool.
There are THREE investment products with different rates of return and durations offered under this activity:
(1) Enjoy 6%+4% APR for the first subscription of 7-day product. Max. subscription amount: 500U/per user, Limit: 2000 slot allocated.
(2) Enjoy 8%+6% APR for the first subscription of 14-day product, Max. subscription amount: 1000U/per user, Limit: 1000 slot allocated.
(3) Enjoy 10%+8% APR for the first subscription of 60-day product, Max. subscription amount: 2000U/per user, Limit: 500 slots allocated.
EXISTING USER REWARD:
The second category of the product on the investment page is for existing users who have staked before. There are three investment products with different rates of return and duration under this activity.
(1) Enjoy 6% APR for the subscription of 7-day product, Max. subscription amount: 500U/per user, Limit: 2000 slots allocated.
(2) Enjoy 8% APR for the subscription of 14-day product, Max. subscription amount: 1000U/per user, Limit: 1000 slots allocated.
(3) Enjoy 10% APR for the subscription of 60-day product, Max. subscription amount: 2000U/per user, Limit: 500 slots allocated.
RULES OF THE PROGRAM.
1. It is a limited investment activity available from 2023/1/4 0:00 to 2023/1/31 23:59 (UTC+8).
3. The basic APRs for 7-, 14- and 60-day investments are 6%, 8% and 10% respectively. Additional APR is exclusively for first-timers and will be distributed only once to each user. If User A invests on a 7-day product at first time, he will be receiving a total of 6%+4% APR. After his first subscription, his second investment in a 14-day product will in turn provide him an APR of 8%.
4. The products are based on locked savings concept which early redemption within the investment period is not supported.
5. Subscription duration starts only when a subscription is confirmed, which is at 12:00 of the following day. Then, the platform system will distribute daily interest at 12:00 and will all at once credit the initial investment amount and last daily interest to user’s account on the settlement day.
HOW TO CALCULATE THE REWARD
Below shows the profit calculation of BIB Fixed Investment:
(1) “T” represents subscription date, in which subscription orders will be processed at T+1 day 12:00(UTC+8). Interest accrual will start right after an order is confirmed;
(2) At expiration, the system will distribute the user’s subscription amount after fee deduction along with the interest on the final day.
(3) Interest accrual will start the following day after subscription confirmation, in which daily interest=subscription amount*APR/100/365.
For instance, user A subscribed to a 7-day product with 10% APR for 1000USDT without any fee charges on January 1.
On January 2, 12:00, the system will confirm his subscription.
On January 3, 12:00, the system will distribute his interest of day 1 which is 1000*10/100/365=0.2739USDT.
On January 4, 12:00, the system will distribute his interest of day 2 which is 0.2739USDT.
Then, daily interest of 0.2739USDT will be distributed the following days before settlement.
On January 9, 12:00, the system will automatically redeem his subscription and distribute his initial investment amount along with last daily interest 1000+0.2739=1000.2739USDT.
Thus, the settlement amount will be received by user A is amounted to 1001.9173USDT.