OKPiggybank Q&A – Wolf@OKEx – Medium
Introduction
Created by OKEx, the OK PiggyBank is a digital asset value-added service that allows you to deposit and withdraw your digital assets anytime. You may transfer your balance into OK PiggyBank to enjoy profit every day.
This service is characterized by depositing and withdrawal freedom, daily interest-earning, and no minimum deposit requirement. The OK PiggyBank guarantees high security of your assets with OKEx’s sophisticated risk management system.
Q&A on OK Piggy Bank
Q. Why are there only some assets (BTC, ETH, TRX, etc.) On OK PiggyBank and not all the assets listed on OKEx?
A. OKPiggyBank only supports the digital assets available for OKEx margin trading.
Q. When I deposit how many days do I have to wait to see interest on my tokens?
A. No interest will be paid for the day an asset is deposited into OK PiggyBank. The interest will be counted from the 2nd day and paid on the 3rd The interest paid will be automatically transferred to the user’s OK PiggyBank account.
Q. What about when I withdraw, will interest be paid on that day as well?
A. No interest will be paid for the day the asset is withdrawn.
Q. What does the “Auto Balance Transfer to OK PiggyBank at 00:00” do?
A. This allows for any (of the assets supported in margin trading) in “Your wallet/funding account” To send automatically to your OK PiggyBank account at 00:00.
Please Note. Due to system processing, the actual transfer time may have a short delay.
Q. Where does the money come from for OK PiggyBank?
A. The interest income from margin loans will be used for the interest distribution for OK PiggyBank. OKEx will take 15% of daily distributable interest to inject it to the insurance fund of margin trading.
Q. How do I know how much interest/money I will make per day.
A. The daily rate of return = Interest of margin loans / Total amount of tokens in the PiggyBank of the day.
Q. And what about for the week how to do I calculate that?
A. The 7-day annualized rate of return = sum of the past 7 days’ rates of return / 7 * 365
Q. What happens if there is no interest to be given or there is a Margin Call Loss.
A. We will ensure users receive interest income every day.
More information on this can be found here https://support.okex.com/hc/en-us/articles/360020018051
Published at Sun, 04 Aug 2019 19:09:31 +0000
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