“BTC Up” is a new digital currency value-added service available to users of Cobo Cloud Wallet. Users can deposit USDT to subscribe. Currency received upon maturity will be decided by BTC linked price. It offers an opportunity to obtain the alternate currency at a lower price.
Rules:
[Purchase Limits] Each user may have a purchase limit refer to the product details page.
[Time Duration] This product is released on an ad-hoc, limited-time only basis. To be notified of new plan options, please follow our official announcements.
[Lock Cycle]The lock-in period of this product is subject to the product page. Plan purchases cannot be refunded.
[Gain Calculation] Gains will be calculated from the following day after the end of subscription date. Initial assets + gains will be transferred automatically after maturity date to users’ wallets.
** The expected rate of return mentioned in this product refers only to gains calculated in USDT. Cobo does not bear the risk of changes in the market value of USDT vis-a-vis other currencies.
Ex. Linked Price: 7500 USDT; Maturity date: Mar 20, 2020; Duration: 8 days; Max. annualized return is: 152.08%; Deposit currency: USDT.
Tommy deposits 7500 USDT subscription period. On Mar 20, if the BTC settlement price falls below 7500 USDT, Tommy receives 1 BTC;
If the BTC settlement price does not fall below 7500 USDT, If [BTC/USDT settlement price] >8000 USDT，then there is no extra revenue, all 7500 USDT in the subscription will be returned.
If 7750USDT≤[BTC/USDT settlement price] < 8000USDT, and the expected annualized return rate = (8000-settlement price ) / 7500/8 * 365, Max. annualized return is 152.08%. Tommy receives 7500 USDT + N% annualized return USDT, and the maximum is 7750 USDT.;
If 7500USDT≤[BTC/USDT settlement price] < 7750USDT, and the expected annualized return rate = (settlement price-7500 ) / 7500/8 * 365, Max. annualized return is 152.08%. Tommy receives 7500 USDT + N% annualized return USDT, and the maximum is 7750 USDT.;
Currency Received upon Maturity: If [BTC/USDT settlement price] < 7500; (P+I) will be calculated by BTC.
