The financial asset services platform Matrixport has introduced a variety of new products since the firm raised $100 million in a Series C financing round during the first week of August. Following the launch of the company’s “ETH2.0 Staking Earn” earning service, Matrixport has introduced another service product called “BTC-U Range Sniper” which allows traders to earn high returns when bitcoin values move within a specified price range.
Matrixport Launches Ether Staking and Range Sniper Bitcoin Product
The Singapore-based Matrixport has been unveiling a number of new products after the company revealed it raised $100 million last month. On August 25, the startup launched its “ETH2.0 Staking Earn” earning service, which provides ethereum (ETH) staking at a “low threshold.”
The product allows customers to “earn yield from ethereum lock-up rewards, while simultaneously benefitting from additional token rewards, mining revenues, and better liquidity from related [decentralized finance (defi)] projects.” On September 6, Matrixport revealed another new service called the “BTC-U Range Sniper.”
BTC-U Range Sniper participants can earn annualized returns “between 6% to 200% in either USDT/USDC or BTC” depending on the price of bitcoin (BTC) at the time of settlement.
There are three ways Range Sniper traders can settle. Either by earning a 6% APY minimum if the settlement price is above the given range, or if it is below the given range, “the principal will be converted to BTC with a minimum guarantee of 6% APY.” Lastly, if the chosen settlement price is on point and falls within the range, an investor can earn up to 200% in USDC.