Assure Earn Introduction & FAQ
1. Earn
What’s Assure Earn?
Earn is a high-quality asset appreciation module created by Assure. It includes service products such as Demand Deposit, Regular Deposit, Deposit and Borrowing Coins, etc., providing users with a wealth of financing options.
Are all products of the Earn module officially released?
Earn not only includes official products, but also third-party products, such as Binance Savings, and selected DeFi protocols. For third-party financing products, Assure only provides channels and does not assume any risk and responsibility.
What’s APR?
APR (Annual Percentage Rate) means the annualized interest rate, non-compounding.
Assure’s official financial products provide reference APR/APY. The APR/APY is not static and might be adjusted according to the actual income of the product. For details, please check the actual interest rate displayed on the APP page. In addition, the APR/APY does not represent the actual income, and the actual income would fluctuate around it.
2. Cloud wallet
What is Cloud wallet?
Cloud wallet is Assure’s built-in custodial wallet and different from Assure’s local non-custodial wallet. The cloud wallet mainly serves Assure’s high-frequency business scenarios, such as financing and red envelopes in chat.
What assets does the Cloud wallet support?
The Cloud wallet currently supports USDT, USDC, ETH, BNB assets, and supports the deposit and withdrawal of BNB Smart chain (BEP20), TRON (TRC20), and Ethereum (ERC20) USDT assets. More types of assets might be supported in the future, subject to the actual front-end page display.
Cloud Wallet’s Deposit and Withdrawal
Cloud wallet top-up needs to consume gas fee, please confirm the network. If the loss is caused by personal misuse of top-up, it cannot be recovered. Withdrawals need to exceed the minimum withdrawal limit. Withdrawal fees vary according to different networks (refer to the exchange’s withdrawal rules), and the specifics are subject to the front-end page. The time for the withdrawal of coins to the account is subject to the review progress and network conditions.
Flexible
What’s Flexible?
It is a current wealth management product that can be deposited and withdrawn at any time. It has the characteristics of low risk, freedom, and flexibility. Users can withdraw money at any time and receive it in seconds.
Flexible’s interest
The product launched is the USDT deposit, and the APR is 5%, which is subject to the actual front-end page display.
Interest Calculation Rules for Flexible
Interest will not be calculated on the subscription day. Interest will be calculated from 0:00 on the second day, and income will be distributed on the third day. The income is distributed to the cloud wallet every day, and users can go to the cloud wallet to view.
Subscription and redemption rules
There is a limit to the total amount of Flexible subscriptions. Once the quota is used up, the subscription service will be stopped. For the time being, there is no subscription limit for individuals. If the user proposes to redeem, the interest will not be calculated on the day, and the principal will be immediately distributed to the cloud wallet. Users can have operations such as withdrawals.
Where does Flexible’s revenue come from?
Assets from Flexible will be handed over to a professional team for non-destructive quantification to provide users with benefits.
Fixed
What is Fixed and what are the characteristics
A fixed-term deposit product with low risk and stable returns.
Fixed’ APR setting rules
Fixed provides a variety of regular financial products for 7–60 days. The specific interest rate is subject to the display on the page.
Fixed interest rate calculation and interest payment rules
Same as Flexible, Fixed’s interest is not calculated on the day of subscription, and interest will be calculated from 0:00 on the second day. The interest of the Fixed will be issued to the user’s cloud wallet account at one time after the regular period ends. The user can set the principal and interest to be automatically transferred to the Flexible upon expiration.
Can the Fixed be redeemed in advance?
It can be redeemed in advance. If the interest of the Fixed is redeemed in advance, all the interest will be lost.
Lending
Lending limit
Assure loan products implement an over-collateralization system. The user’s borrowing limit is determined by the user’s current deposit limit, and the user can use the cloud wallet assets as collateral to lend other assets.
Loan Amount = Flexible Assets × Coefficient (i)
Lending APY
At present, Assure Deposit and Lending only provides USDT current loan, and other loan products will be added in the future. The USDT loan interest rate is currently 6%, which is subject to the information displayed on the APP page.
How to calculate lending interest
Borrowing interest is calculated every full hour. For example, if a user lends an asset at 12:40, the first interest will be calculated at 13:00.
After lending, can the pledged Flexible account be withdrawn?
No, after borrowing, the part of the Flexible account as a pledge is locked and cannot be retrieved. But the part that is not pledged can be withdrawn. After the user repays, the credit limit can be released, and the user can withdraw money.
Pledge rate
Pledge rate = value of lent assets / value of collateral.
liquidation rules
When the pledge rate reaches 80%, users will be reminded to add the collateral or repay. If the user does not add the collateral or repay when the pledge rate reaches 95%, the user’s collateral will be liquidated to repay. After repayment, the remaining assets will not be returned to the user, but will be used as the platform’s risk deposit.
Users can repay in advance at any time without incurring any fees. Partial repayment will be used to repay of interest first.
About Assure
Assure is an aggregator for digital assets in Web3.0, as well as a portal for billions of users switching from Web2.0 to Web3.0.
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