Dual Asset Mining FAQ

1. What is Dual Asset Mining?

Dual Asset Mining is a non-principal protected investment product with floating returns. Bybit helps you allocate liquidity at an optimal price range. We leverage our proprietary strategies for liquidity provision, while performing rebalancing and compounding on your behalf to ensure higher returns.

Currently, Bybit provides three Dual Asset Mining products: ETH/USDT, BTC/USDT and BIT/USDT.

Let’s take ETH/USDT as an example.

Traders can select either USDT or ETH as the staking asset. The settlement asset will be either USDT or ETH, depending on the Settlement Price relative to the Benchmark Price.

Staking Asset: USDT

If Settlement Price < Benchmark Price, users will receive ETH upon settlement.

If Settlement Price ≥ Benchmark Price, users will receive USDT upon settlement.

Staking Asset: ETH

If Settlement Price < Benchmark Price, users will receive ETH upon settlement.

If Settlement Price ≥ Benchmark Price, users will receive USDT upon settlement.

Notes:

— The Benchmark Price is the spot price of the relevant USDT pairs at the point when your product plan begins. It is derived from the Bybit index price (weighted average of spot price across several exchanges) five minutes after your order is successfully processed. 

— The Settlement Price is the spot price of the relevant USDT pairs at the point when your product plan expires. It is derived from the Bybit index price (weighted average of spot price across several exchanges) in the last 30 minutes before settlement.

— Read more about the calculation of Bybit’s index price here.

2. Are there any uncertainties?

The APY is guaranteed. However, the return in asset value is not guaranteed, due to price (value) fluctuations. As mentioned above, the settlement asset will either be in USDT, ETH, BTC or BIT, depending on how the Settlement Price compares to the Benchmark Price. 

3. Are there minimum staking limits?

Yes. Please refer to the following table.

4. What types of Dual Asset Mining products can I purchase?

You can choose from short-term staking periods of 1-, 3-, and 5-day.

5. When can I start purchasing Dual Asset Mining products?

Each product will be supported for purchase within 24 hours before the product’s end of subscription time. For example, if the end of subscription time is at 9:00AM UTC on Jan. 7, the purchase period will be from 9:00AM UTC on Jan. 6 to 8:59AM UTC on Jan. 7. 

6. What is Yield Generating?

Yield Generating is the time when users subscribe to the plan. Once subscribed, it’s considered that the product has been purchased and begins to calculate yield. This means that any purchase that is made before the end of subscription time will be eligible for generating yield (extra yield generated would be proportional to the length of time passed between the time of purchase and the end of subscription time). 

7. What is the maximum staking period I can get?

Since you can make a purchase 24 hours before the product goes into effect, the yield is calculated from the time you purchase. That is, you can include a 1 extra day of yield on top of the product’s staking period.

8. Is my yield calculated based on the APY shown when I purchase the product?

Yes. The APY displayed at the time of purchase will be used to calculate your yield.

Please note that the estimated APY will be updated every five minutes based on market movement.

9. How do I calculate my return?

Currently, Bybit provides three Dual Asset Mining products: ETH/USDT, BTC/USDT and BIT/USDT.

Let’s take ETH/USDT as an example. Traders can select either USDT or ETH as the staking asset.

Staking Asset: USDT

Let’s take an example in which Trader A uses 3,000 USDT to purchase a 3-day Dual Asset Mining product with a 45% APY. Since the current 3,000 USDT = 1 ETH, the Benchmark Price is $2,800. 

Order details

Purchase Time: 11:00AM UTC, Jan. 7, 2022

Yield Generating: 11:00AM UTC, Jan. 7, 2022

End of subscription time: 2:00PM UTC, Jan. 7, 2022

Duration: 3 days

Settlement: 2:00PM UTC, Jan. 10, 2022

Staking Period: 3.125 days [3 hrs + (24 hrs × 3 days)] 

Three days later, one of two things will happen:

— If the ETH final Settlement Price is below $2,800, the invested 3,000 USDT will be converted into 1 ETH at a price of $2,800. The APY is 50% when the product expires, which is 1.076 ETH based on the following calculation:

Total Return = Staking Amount/Benchmark Price × (1 + % APY × Staking Period/365)

= 3,000/2,800 × (1 + 0.5 × 3.125/365) = 1.076 ETH

— If the ETH final settlement price is above or equal to $2,800, Trader A will receive a principal of 3,000 USDT. The APY is 50% when the product expires, which is 3,012.84 USDT based on the following calculation:

Total Return = Staking Amount × (1 + % APY × Staking Period/365)

= 3,000 × (1+ 0.5 × 3.125/365) = 3,012.84 USDT

Notes: 

— The Benchmark Price is derived from Bybit’s index price (weighted average of spot price across several exchanges) five minutes after your order is successfully processed. 

— The Benchmark Price will be updated every five minutes based on market movements.

— The Settlement Price is derived from Bybit’s average index price (weighted average of spot price across several exchanges) in the last 30 minutes before settlement.

Staking Asset: ETH

Let's take an example in which Trader B uses 1 ETH to purchase a 1-day Dual Asset Mining product. The current ETH reference spot price is $3,000, and the annualized percentage yield is 85%. The Benchmark Price is $3,500. 

Order details

Purchase Time: 2:00AM UTC, Jan. 7, 2022

Yield Generating: 2:00AM UTC, Jan. 7, 2022

End of subscription time: 2:00PM UTC, Jan. 7, 2022

Duration: 1 day

Settlement: 2:00PM UTC, Jan. 8, 2022

Staking Period: 1.5 days [12 hrs + (24 hrs × 1 day)] 

One day later, one of two things will happen:

— If the ETH final Settlement Price is below $3,500, Trader B will receive a principal of 1 ETH. The APY is 50% when the product expires, which is 1.00369 ETH based on the following caculation:

Total Return = Staking amount × (1 + % APY × Staking Period/365)

= 1 × (1 + 0.5 × 1.5/365) = 1.00369 ETH

— If the ETH final Settlement Price is above or equal to $3,500, the invested 1 ETH will be converted into 3,500 USDT. The APY is 50% when the product expires, which is 3,512.95 USDT based on the following caculation:

Total Return = Staking Amount × Benchmark Price × (1 + % APY × Staking Period/365)

= 1 × 3,500 × (1 + 0.5 × 1.5/365) = 3,512.95 USDT

Notes: 

— The Benchmark Price is derived from Bybit’s index price (weighted average of spot price across several exchanges) five minutes after your order is successfully processed. 

— The Benchmark Price will be updated every five minutes based on market movement.

— The Settlement Price is derived from Bybit’s average index price (weighted average of spot price across several exchanges) in the last 30 minutes before settlement.

10. When do I receive my payouts?
    You can check the payout distribution time from the Dual Asset Mining order page here. 
    
    
    
11. Can I cancel my Dual Asset Mining order?

Once the purchase is confirmed, your Dual Asset Mining order cannot be modified or canceled.

12. How do I purchase Dual Asset Mining products on Bybit?

Please visit ByFi Center --> Dual Asset Mining in order to purchase products using your ByFi Account. 

In addition, please ensure that the funds have been transferred to your ByFi Account before any purchase is made. 

13. How do I view Dual Asset Mining products I've purchased on Bybit?

Please visit our ByFi Center and view your purchases in Orders --> Dual Asset Mining Orders.

14. How can I withdraw my mining output? 

Dual Asset Mining returns will be credited to your ByFi Account. Please make a transfer from your ByFi Account --> Spot Account before proceeding with the withdrawal. There is no minimum transfer amount or fee required.