BYBIT Introduces New & Improved Dual Asset Mining Up to 400% APY

Instead of stashing away your crypto assets and waiting around for the market to make its moves, why not take control of your yield with our new and improved Dual Asset Mining in the ByFi Centre?

BYBIT has upgraded Dual Asset Mining with a fresh interface, new features, and most importantly, a bigger APY of up to 400%!

Some of the new features include:
  • New APY Every Five (5) Minutes: All APYs for each Dual Asset Mining plan will be refreshed every five minutes. That means the earlier you stake, the better the APY you'll receive.
  • Enhanced Transparency: Benchmark prices are now displayed and updated every five (5) minutes. You can now use the estimated benchmark price to decide when is the best moment to stake your assets.
  • More Accurate Estimates of Your Yield: The calculator provided to help estimate your earnings is now able to give you a more accurate gauge of your earnings.
What is Dual Asset Mining?
Dual Asset Mining is a non-principal protected investment product with floating returns. It allows you to stake your preferred asset to earn yield via liquidity provision.

Depending on the price movement of your staked asset, your yield will be returned in a different asset.

Need a comprehensive guide to how it works? Check out our Bybit Learn article πŸ‘‰here.

Who Is It For?
If you are a crypto HODL-er or a trader waiting to make your move in the market, Dual Asset Mining could be your best friend.

Instead of stashing away your assets, why not earn yield in the meantime by providing liquidity? It's impossible to predict how the cryptocurrency market will change in the next 24 hours, but with Dual Asset Mining, you can be sure to receive a high yield no matter what happens.

Plus, enjoy flexibility in staking your assets with plans as short as one day.

Are There Any Risks?
As with any financial product, there are certain risks you should be aware of.

Dual Asset Mining, in particular, is a non-principal protected investment with floating returns. Should there be any adverse market movements, your proceeds in the settlement asset — if converted at the prevailing spot rate — may be less than the proceeds in your original staking asset upon maturity.

How Do I Get Started?
Step 1: Deposit Crypto in Your ByFi Account
To get started, make sure you have sufficient crypto assets (either BIT, BTC or ETH depending on which asset you wish to stake)
 πŸ‘‰in your ByFi account.

Step 2: Choose A Plan
Choose among at least three pairings, including BIT/USDT, BTC/USDT, and ETH/USDT.

For each pairing, you'll have to choose which one of the two assets you wish to stake.

During this step, you may have to transfer some crypto assets from your Spot or Derivatives account to your ByFi account if you have not already done so.

Step 3: Wait for Your Yield!
Once you've staked your assets on a plan, all that's left is for you to sit back, relax and wait for your yield!

When your plan is over, one of these two scenarios will occur:

1. If the Spot price of your staked asset (a.k.a. Settlement Price) is higher than when you staked it (a.k.a. Benchmark Price), you will receive your yield in USDT.

2. If the Spot price of your staked asset (a.k.a. Settlement Price) is lower than when you staked it (a.k.a. Benchmark Price), you will receive your yield in BIT, BTC, or ETH, depending on your plan.

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