Snowball FAQ

Published on Dec 20, 2023Updated on Apr 4, 20244 min read

What's Snowball?

Snowball is a unique product designed to grow your earnings in both steady and fluctuating markets. Depending on the price movement of the underlying crypto, there are four potential payoff scenarios for Bullish and Bearish snowball respectively, that allow you to grow your returns with some risk protection.

How is interest generated with Snowball?

By subscribing to a Snowball product, you are essentially selling an options contract, and your returns depend on the price movement of crypto during the subscription term.

  • For Bullish Snowball:
    • Early Profit: Earn USDT if the average BTC price surpasses the profit price on any given Friday, allowing you to capitalize on early market movements.
    • Max Profit: Secure USDT earnings when the average BTC price remains within the profit price and caution price range for three consecutive weeks, providing an extended period for potential gains.
    • Recovery: Receive your initial USDT investment if the price surpasses the caution price, and the average BTC price on the expiration date falls within the designated target and profit price range, ensuring a recovery of your principal amount.
    • Conversion: In the event that the price crosses the caution price, and the average BTC price is below the target price, execute a conversion where you use your USDT to purchase BTC at the target price, allowing for a strategic shift in your investment.
  • For Bearish Snowball:
    • Early Profit: Acquire BTC if the average BTC price dips below the profit price on any given Friday, allowing you to benefit from market downturns.
    • Max Profit: Secure BTC earnings when the average BTC price remains within the profit price and caution price range for three consecutive weeks, providing an extended period for potential gains.
    • Recovery: Reclaim your initial BTC investment if the price surpasses the caution price, and the average BTC price on the expiration date falls within the designated target and profit price range, ensuring a recovery of your principal amount.
    • Conversion: In the event that the price crosses the caution price, and the average BTC price is above the target price, execute a conversion where you sell BTC at the target price and receive USDT, offering flexibility in your investment strategy.

When is the Profit price observed?

The Profit price is observed every Friday and is compared to the average price of the underlying crypto between 07:00 UTC ~ 08:00 UTC. If the Profit price is reached or exceeded on any other day or time, it doesn't qualify.

When is the Caution price observed?

The Caution price is observed everyday and is compared to the average price of the underlying crypto between 07:00 UTC ~ 08:00 UTC. If the Caution price is reached or or exceeded on any other day or time, it doesn't qualify.

What's the Target price?

The Target price is determined at the start of your subscription and is the price at which your crypto will be converted in a conversion scenario.

What's APR?

APR, or Annual Percentage Rate, is used to calculate your interest.

What's the Term?

The term is the duration of your product. The longer the term, the higher the actual interest earned. In an early profit scenario, the term will be updated to reflect the number of days between the subscription date and the early profit date.

What's the Minimum Investment?

The minimum investment amount for a Bullish strategy is 10 USDT, with increments set at a minimum of 1 USDT. For a Bearish strategy, the minimum investment is 0.0004 BTC or 0.005 ETH, with increments set at a minimum of 0.0001 BTC or 0.001 ETH.

How do I subscribe it?

  1. Start your subscription by partaking in the five 24hr subscription periods every week, from Sunday, 12:00 UTC to Friday, 12:00 UTC.
  2. Select Bullish or Bearish mode by investing in USDT for a Bullish strategy and BTC or ETH for a Bearish strategy based on your market outlook.
  3. Select your crypto by choosing either BTC or ETH as your underlying crypto.
  4. Select your term by choosing between the available term lengths.
  5. Enter the subscription amount with the minimum amount that can be set is 10 USDT, 0.0004 BTC, or 0.005 ETH.
  6. Confirm your subscription, as the final APR and price levels will be confirmed at the end of each subscription period around 12:00 UTC.