MYEG Lock-Earn Wallet (BETA): The simplest and safest way to earn on your Digital Assets holdings.
MYEG’s first Decentralised-Finance (De-Fi) offering promotes digital assets adoption and supports local licensed Digital Asset Exchanges (DAXs).
Follow these simple steps to subscribe to the MYEG Lock-Earn programme.
- Register your interest to sign up for our Beta program with selected DAXs.
- Lock your digital asset to your Lock-Earn wallet within your DAX’s exchange wallet. Please note that the minimum amount you need to deposit is 0.01 BTC or 1 ETH.
- Earn and enjoying passive borrowing fee rates (BFR) as high as 5%. Maximise your offered borrowing fee by increasing your trading volumes or introducing more friends and family to your DAX.
- Your spot BFR will be quoted when you opt to lock your digital assets, all accrued borrowing fees will be rewarded at the end of your selected lock-earn tenure.
How does the MYEG Lock-Earn Wallet work?
Many investors store their digital assets on exchanges or in cold storage for long-term safekeeping. However, this strategy doesn’t help them grow their investment holdings or build overall wealth. The MYEG Lock-Earn Wallet enables individuals and institutions to earn borrowing fees on their digital assets held at selected DAXs.
Register your interest today. Opting in for lock-earn takes less than 2 minutes and you can start earning borrowing fees in BTC or ETH!How to Earn Borrowing Fees?
The blockchain industry is in growth mode. Businesses are building and investors are looking for ways to accumulate more capital. MYEG Lock-Earn wallet clients can deposit their digital assets and earn up to 5% BFR. Simply choose your preferred tenure to lock your digital assets and earn the BFR stipulated at the end of your lock-earn period.
The base BFR is 2.5% and users can increase the spot BFR offered by:
- An additional 0.25% for every user (up to 8) referred to the DAX within the last 30 days before opting in to a Lock-Earn.
- An additional 0.5% if the user has traded more than 0.5 BTC in the last 30 days on the DAX, for BTC Lock-Earn
- An additional 0.5% if the user has traded more than 8 ETH in the last 30 days on the DAX, for ETH Lock-Earn
With 5% BFR (simple interest):
User who locks 1 BTC in their MYEG Lock-Earn wallet on 1/8/2021, selects a 6 month tenure, has referred 8 new users and has traded more than 0.5 BTC in the DAX in the last 30 days, will be able to receive borrowing fee of 0.0247 BTC (equivalent to 5% BFR) at the end of the tenure. He will be able to withdraw the full 1.0247 BTC into his main BTC wallet on 2/2/2022.
User who locks 10 ETH in their MYEG Lock-Earn wallet on 12/8/2021, selects a 3-month tenure and has referred 8 new users, will be able to receive borrowing fee of 0.1106 ETH (equivalent to 4.5% BFR) at the end of the tenure. He will be able to withdraw the full 10.1106 ETH into his main ETH wallet on 13/11/2021.
User who locks 1 BTC in their MYEG Lock-Earn wallet on 31/8/2021, selects a 1 month tenure will be able to receive borrowing fee of 0.00206 BTC (equivalent to 2.5%) at the end of the tenure. He will be able to withdraw the full 1.00206 BTC into his main BTC wallet on 1/10/2021.
In these economically depressed times, MYEG would like to contribute to the economic recovery and enable a digital-ready future by supporting Malaysian consumers in adopting new asset classes and responsible investing.
When will this be available on my DAX?
Register your interest today and you will be notified by email when the MYEG Lock-Earn wallet is available on your DAX.Terms and Conditions Available Here