For the last 11 months our Power Piggy program has attracted a lot of attention and received a lot of love from the XRP and wider crypto communities. We want to thank every one of you who has helped make it into such a success!
It has also received a lot of curiosity and doubt from people who have been wary of its sustainability. Since the beginning, the funding for Power Piggy has mainly come from our marketing budget, supported by the fees we collect from our trading services. However, with Power Piggy in its current form which is publicly available to all, we feel that we are not maximizing the benefit given to the BTR holders who are supporting Bitrue and helping to make it a success.
In order to provide long-term sustainability and provide a greater value to BTR holders, we will be modifying the baseline and maximum interest rates for coins as depicted in the table below (there will be no change for stablecoins). These changes will apply to both newly invested funds, as well as funds that are already inside Power Piggy. It will first apply to the interest disbursement of 20 November 2019 00:30 (UTC + 8), and all disbursements thereafter.
|Coin||Baseline Rate||Max Rate|
This change is being implemented as a way for us to maintain a healthy and sustainable ecosystem around Bitrue and BTR. We have recently launched our new VIP Cap feature, which is a way for BTR holders and long-term investors to maximize their investment capabilities. You can find more information about VIP Caps at this link.
Before the end of the year we plan to launch some lock-up based investment products which will have higher interest rates and significantly higher caps. Funds that are locked up will be used by Bitrue for our own investment and development purposes. More news about these products will be announced within the coming weeks.
As an extra bonus, we will soon allow coins that have been invested into Power Piggy to be used as collateral for our Bitrue Loans feature. This will enable you to conveniently take out a loan, continue earning interest on your coins, and also allow you to use your borrowed coins on other investment opportunities.
The Bitrue Team