Now you can activate “pay with BITO Coin” during purchase. BITO Coin will then be used to deduct fees incurred at discounted rate. Asset rate for fees is determined based on the pricing on maturity date. On the maturity date, if there is insufficient amount of BITO Coin to pay for fees, system will automatically deduct from receiving asset balance.
For example, Adam purchased 10 units of USDT-based product and switched on “pay with BITO Coin”.
1 unit costs 100 USDT, fixed annualized interest rate is 8.5%, accrued interest payment is 7 days, fee is 20% of total interest received, fee paid with BITO Coin is eligible for 50% discount, on maturity date BITO/TWD rate falls at TWD$0.42, USDT/TWD at TWD$30.26. On the expiration date, Adam’s interest calculation will be : 10 units * 100 USDT * 8.5% * (7/365) = 1.63013 with fees calculated as follows : 10 units * 100 USDT * 8.5% * (7/365) * 20% * 50% * 30.26 / 0.42 = 11.74474885 BITO.