OKX, one of the world’s leading crypto exchanges, has launched Shark Fin, a product that offers users an opportunity for gains no matter which direction the market moves.
The product is a significant addition to OKX’s diverse range of trading tools and offers traders an easy and innovative way to realize a variable return regardless of market movements.
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With OKX Shark Fin, users invest their chosen quantity of USDT1 and take a bullish or bearish position on a major crypto asset within a stated price range in a seven-day period. Users then gain the maximum yield2 if the asset ends the period within their chosen range, or receive a basic APY if the asset ends the period outside of their chosen price range. The user’s principal USDT investment is protected throughout the product’s lifespan and no service fees are changed. Current assets offered include Bitcoin and Ethereum.
Lennix Lai, Managing Director of Global Institutional, OKX, said: “Shark Fin is a structured product that gives traders chances to capitalize on potential market movement while protecting their principals. Our goal is to offer a variety of structured products that let traders tailor their strategies accordingly while protecting themselves from downside risk.”
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