Savings

Ｗhat is Savings?

Savings: Users can get rewards by transferring to the corresponding position currency (to meet the minimum position size without locking the position). The proceeds generated on the day will be issued to the user's financial account in the form of compound interest in proportion to the number of snapshots held by the user.

How to Subscribe Savings Products?

1. Log into your KuCoin account, click [Earn] - [KuCoin Earn], scroll the page and you will see the [Stable] section. Please note that you can search the coin type or filter the type as Savings to check all the Savings products we support now.

2. Choose the product you want to subscribe, click [Subscribe], enter the amount and then click [Confirm]. 

3. Once you subscribe successfully, you can check the detailed information at [Financial Account].

4. The profit from Savings products will be issued to the Financial account, you can check the account details. Meanwhile, you can choose to redeem your savings products whenever you want, and the custom amount of principal + interest will be immediately returned to the Funding Account.

5. Redemption rule: Users can redeem Saving assets at any time. When users choose to redeem, we'll return the assets to their accounts immediately.

6. The daily APR: Operator's revenue of the savings/users' saving amounts*365

7. 7-day APY: The average APY of the previous seven days

8. Interest calculation rules: After a successful subscription, the interest will be accrued on T+1days and will be issued on T+2 days. Our system will take a snapshot of the user's saving amount every hour and compare it to the snapshot amount taken at 0:00 on that day. We will take the minimum amount as the saving amount of that hour and will calculate the interest for that hour by this amount. At last, the interest for each hour is added up to the total interest of the day