Question 1

What is Staking?

Accepted Answer

Staking is a category of financial products under WEX Simple Earn, which includes two different types of products: Launchpool and PoS Staking. Launchpool is a collaborative product between WEX Finance and project partners, allowing users to stake and earn popular new tokens. The products have different pools based on the staking coins. PoS Staking involves various high-quality PoS (Proof of Staking) projects selected by WEX Finance. Users can stake and earn staking rewards through these products.

Question 2

Launchpool Product Rules

Accepted Answer

Launchpool products can be subscribed to during the pre-subscription period until the product ends. If successfully subscribed during the pre-subscription period, interest starts accruing on the product start date. If successfully subscribed during the mining period, interest starts accruing on the same day (Day T, UTC). Previous day’s interest is distributed daily starting from the day after interest accrual date (UTC). The interest mode is Distributed Daily, the daily interest is automatically credited in Spot account. Launchpool products have fixed terms. Some products support early redemption, with the redemption amount returned to the Spot account on the next day (UTC) after the redemption request. The products are automatically redeemed upon maturity, with the redemption amount returned to the Spot account on the next day (UTC) after product maturity date.

Question 3

How is the daily profit calculated for Launchpool?

Accepted Answer

The total daily rewards distributed from the Launchpool pools are fixed. At the end of each day (UTC), the proportion of a user's holdings amount to the total holdings amount in the pool is calculated, and profits are distributed accordingly. User's Daily Profit = Total Pool Daily Rewards * User's Holdings Amount / Total Pool Holdings Amount.

Question 4

PoS Staking Product Rules

Accepted Answer

PoS Staking products can be subscribed to at any time. After successful subscription, interest starts accruing on the next day (Day T+1, UTC), and previous day’s interest is distributed daily starting from the day after interest accrual date (Day T+2, UTC). The interest mode is Distributed Daily, the daily interest is automatically credited in Spot account. PoS Staking products have fixed terms, do not support early redemption, and are automatically redeemed upon maturity. The redemption amount is returned to the Spot account on the next day (UTC) after product maturity date.

Question 5

How can I subscribe to Earn products?

Accepted Answer

To subscribe to Earn products, users need to ensure that their Spot account has sufficient balance in the corresponding coin. Then, on the product details page, users can enter the subscription amount and click Subscribe to complete the purchase. After successful subscription, the subscription amount will be deducted from the user's Spot account and converted into corresponding holding positions in the Earn account, while the fund records can be viewed in the Spot account.

Question 6

How are the Earn profits distributed?

Accepted Answer

The distribution time of profits varies for different Earn products. Some products distribute interest daily, while others distribute interest upon maturity. Please refer to the specific product details page. Once the profits are credited, users can view the credited amount and fund records in their Spot account. If you do not receive your Earn profits in a timely manner, please contact customer service for assistance.

Question 7

How can I redeem Earn products?

Accepted Answer

The redemption rules vary for different Earn products. Some support manual early redemption, while others can only be automatically redeemed upon maturity. Please check the specific product rules. If the product supports early redemption, users can click Redeem under the product positions in the Earn account, enter the redemption amount, and submit it after confirmation. The redemption time varies for different Earn products. Once the redemption is credited, users can view the credited amount and fund records in their Spot account.

Question 8

How can I view Earn product positions, Earn orders and fund records?

Accepted Answer

Users can view all currently held positions of Earn products in the Earn account. By clicking Earn Orders on the Earn account page, users can view historical orders related to product subscriptions, interest distributions, redemptions, etc. Fund records can be viewed in the Spot account with type of Earn selected, users can see all records related to Earn, including subscriptions, interest distributions, and redemptions, etc.

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