Now Live: Dual Asset Mining With Up to 180% APY

We are pleased to announce that Dual Asset Mining (Uniswap V3) is now live on the ByFi Center. A short-term investment product, Dual Asset Mining will be your gateway to professional liquidity provision and a high annualized percentage yield (APY) of up to180%!

What is Dual Asset Mining (Uniswap V3)?

Dual Asset Mining is a non-principal protected investment product with floating returns. You can choose from short-term staking periods of 1-, 3-, 5-, and 7-day per your investment preference. Bybit will help you stake the asset — either ETH or USDT — to the Uniswap V3 protocol for liquidity provision. Your APY is secured on the day of product purchase, while the type of asset you will receive upon maturity depends on the settlement price* relative to the benchmark price**.

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*Settlement Price: The spot price of ETH — quoted in USDT — when your product plan ends. It is derived from the Uniswap V3 protocol.

**Benchmark Price: The spot price of ETH — quoted in USDT — when your product plan starts. It is derived from the Uniswap V3 protocol and will be updated on the plan effective day.

Can we run an example?

Let’s assume that our Dual Asset Mining product has the following parameters:

Staking asset: ETH
Benchmark price: 3,000 USDT
Staking period: 7 days
APY: 90%

On Aug. 25, 2021, Leon invests 1 ETH into the product. If ETH price plunges between Aug. 25 and Aug. 31, the settlement price will be below the benchmark price of 3,000 USDT. As a result, Leon will receive his original investment plus a 1.73% yield (90/365*7) in ETH. Upon settlement, 1.0173 ETH {1*(1 + 0.9/365*7)} will be auto deposited to his ByFi account.

If ETH price rallies between Aug. 25 and Aug. 31, the settlement will be equal to or above the benchmark price of 3,000 USDT. As a result, Leon will receive his original investment and a 1.73% yield (90/365*7) in USDT. Upon settlement, 3,051.7 USDT {1*3,000*(1 + 0.9/365*7)} will be auto deposited to his ByFi account.

In either scenario, Leon is guaranteed to secure a 1.73% yield over this 7-day staking period. The only uncertainty is the type of asset Leon will get upon maturity.

What is the Uniswap V3 protocol?

Uniswap V3 is Uniswap’s latest protocol that allows liquidity providers (LPs) to allocate staking assets within custom price ranges instead of over the entire price curve. As long as the price stays within a given range, LPs will earn trading fees in proportion to the liquidity contributed. Compared to Uniswap V2, V3 helps LPs earn higher trading fees by concentrating liquidity in narrower ranges. Uniswap is the largest decentralized finance (DeFi) protocol that uses automated market makers (AMMs) to facilitate the exchange of cryptocurrencies.

Why choose Bybit’s Dual Asset Mining?

Bybit’s Dual Asset Mining allows you immediate, easy, and hassle-free access to liquidity mining via Uniswap V3. We will employ proprietary strategies for liquidity provision, while performing rebalancing and compounding on your behalf to deliver higher return.

Our best-in-class security infrastructure and risk control will ensure maximum protection for your funds.

Time to sit back and let your crypto work for you!

Please note that in the event that the Uniswap V3 protocol experiences smart contract hacking, extreme market volatility, liquidity crisis, or other security incidents, Bybit is authorized to terminate your product plan at the earliest possible time to minimize losses. Bybit will not be liable for any loss caused by uncontrollable risks, including but not limited to natural disasters, regulatory changes, Uniswap security incidents, etc.