Difference between Fixed and Flexible Accounts
With a Fixed Account, you lock your assets for a certain period. You can’t withdraw them until the period ends, even with a penalty. The rates for a Fixed Account are higher than for the Flexible one.
With a Flexible Account, you can deposit and withdraw assets anytime and add them to an existing account. The rates for Flexible Accounts are lower, but you can manage them at your discretion.
Benefits of each account type
Fixed Account
Getting fixed interest, even if the market is unstable
Creating up to 50 accounts per asset
Higher rates than the Flexible account offers
Bonus rewards for staking CoinLoan Token: you can increase your standard Fixed rates by choosing one of the bonus options: 0.25%, 0.5%, 0.75%, or 1%
Flexible Account
More freedom in managing your assets
Bonus rewards for staking CoinLoan Token: your Flexible rates increase by 0.05% with every 125 CLT you hold. The maximum bonus is 1%
Daily accruals and monthly compound
Minimum deposit period is one day, maximum deposit period is up to your own discretion
Which account type to choose
Let’s have a look at the example below to understand the two options better.
For instance, you have 100,000 USDC and want to earn interest. The best solution depends on how long you can hold the assets on the platform.
Longer time without withdrawing
The best choice is a Fixed Account and a period of one year:
The standard annual rate for holding USDC for a year is 8.2%. Enabling the CLT Staking option can boost the standard rate by up to +1%. In one year, you will get 108,200 USDC (without staking) or 109,200 USDC (with the maximum 1% staking reward).
Shorter time with withdrawing
You should choose a Flexible Account:
The standard annual rate for holding USDC is 5.2%, and the interest amount depends on your holding period. Enabling the CLT Staking option can boost the standard rate by up to +1%. In our example, your interest will be 427.3 USDC (without staking) or 509.5 USDC (with the maximum 1% staking reward) for the first month. As for the second month, it will be 429.2 USDC (without staking) or 512.1 USDC (with the maximum 1% staking reward).