Simple, boundless solution for all INLOCK users!
For cryptocurrencies in Savings Account, our clients automatically receive interest.
Customers can deposit or withdraw cryptocurrencies from their INLOCK
Savings Account at any time and quantity. They can expand their balance, which will automatically be added to the Savings Account.
In the case of withdrawing, of course, interest is accrued to the property stored in the Savings Account until the last closed date. Interest is paid on a pro-rata basis. The interest period begins at midnight, 0:00 every Wednesday, and ends at 23:59 following Tuesday.
Valid interest rates for a given period are announced one day before each period (on Tuesdays), in a newsletter or on social channels.
The yield credited in a given week will continue to bear interest in the following week, thus implementing the principle of compounded interest.
Interest for a given period may vary each week.
INLOCK is not bound by any framework, but it strives to ensure that the
rate of change does not exceed 25-30 basis points.
In the overview, you can look at the aggregate balance of the Savings Account converted into dollars, as well as the interest earned previously and the pending interest already accounted for the current period.
With the help of ILK token, you can earn HIGHER interest rates week after week.
Currently, it is possible to earn higher interest rates by holding two fixed amounts of the ILK: in exchange for 100,000 ILK, you can earn 5% more interest on each cryptocurrency, while holding 1 million ILK increases the interest by fifth (i.e. +20%), which can be pocketed weekly!