How do I subscribe to Simple Earn Fixed?
What's Simple Earn Fixed?
Simple Earn Fixed is a stable way for you to earn consistent returns on USDT.
How does Simple Earn Fixed work?
You deposit funds into the platform, which are then loaned out to borrowers. The interest paid by borrowers is passed on to you, the lender.
When you lend your idle funds for a fixed period, the platform allocates them to meet borrowing demands according to the annualized lending rate displayed in the product. Interest starts to accrue once the matching borrowing order is funded, and you'll start earning interest daily. If any unmatched portion of a borrowing order is canceled, or if the market APR changes significantly, the matched portion will be considered funded, and your term will begin.
Your lending order may be divided into multiple sub-orders depending on market demand. This flexible system ensures your funds are utilized efficiently while providing you with a transparent and predictable consistent return.
What are the benefits of Simple Earn Fixed?
Fixed Term, Fixed APR: lend idle assets for a set term at a fixed interest rate. Enjoy consistent returns over a specific period, making financial planning more effective.
Stable Interest: leverage the platform's advanced peer-to-peer matching system to earn stable interest effortlessly. This efficient system aligns lending and borrowing needs, helping you grow your wealth without active management.
Reliable Risk Control System: your assets are safeguarded with a stringent risk control framework, industry-leading security protocols, and cutting-edge infrastructure. Our comprehensive approach ensures the protection of your investments, providing you confidence and security in a volatile market.
How do I subscribe to Simple Earn Fixed?
Open your OKX App, go to Grow > Simple Earn
Navigate to Grow and select Simple Earn
Select Fixed to find Simple Earn products with fixed number of days (for example 30 Days), as not all currencies in Simple Earn have fixed term options
Select Fixed to find Simple Earn products
Enter the amount you'd like to deposit into Simple Earn Fixed, and complete the subscription by selecting Continue.
Enter the amount and select Continue to complete the subscription
Once your order is submitted, it will be matched with a borrowing order. Once the borrowing order is funded, your subscription will start earning interest immediately. If any unmatched portion of a borrowing order is canceled, or if the market APR changes significantly, the matched portion will be considered funded, and your term will begin.
Your order will start earning after the matching borrowing order is funded
If you wish to manage your subscriptions, go to Assets > Earn. You can add more assets to existing subscriptions or redeem existing assets that haven’t started earning interest yet.
Redeem pending assets
Add more assets to existing subscriptions
FAQ
When will my Simple Earn Fixed order start to accrue interest?
Once your order is submitted, it will be matched with the loan order in the market. Once your order is funded, your subscription will start earning interest immediately. If any unmatched portion of a borrowing order is canceled, or if the market APR changes significantly, the matched portion will be considered funded, and your term will begin.
Can I redeem early?
You can only redeem funds that are still in pending status and haven't started accruing interest. Once your order begins accruing interest, you will no longer be able to redeem or cancel it.
What are the possible risks?
Please note that once the term begins, your order is locked until the term ends. There are chances that your order may terminate earlier than the term ends. In this case, you'll receive 100% of the remaining interest to be accrued as compensation, except that no compensation will be paid if the termination occurs within 12 hours before the scheduled term ends.
Your order may also be extended due to the borrower's delayed repayment, for a maximum of 14 days. In this case, you’ll accrue compensatory interest hourly. You can find the amount on the compensatory interest history. The total interest will be distributed to your funding account when the borrower repays the funds you have lent them.
Your principal is subject to the risks of investing in crypto, including market volatility, exchange risk, borrower's liquidation, and the non-redemption of funds during the term.
As this is a non-principal-protected product, in the event that borrowers fail to repay and their collateral is insufficient to repay lending orders, you risk losing all or a part of your principal. This is mitigated by OKX’s strict risk control, industry-leading security measures and advanced infrastructure.
When will my principal be returned to me?
Your principal (initial invested or lent amount) will be returned to your funding account along with the interest earnings after the borrower repays.