1.What are Locked Savings?
Committed to holding your crypto? Now you can earn interest at the same time! Subscribe your crypto to locked savings periods for higher interest earnings.
2.What happens to my funds on the day I subscribe to a Locked Savings product?
On the day of subscription, Sherolex Savings will deduct the funds for subscription from your exchange wallet.
3.What happens to my funds on the value date of a Locked Savings product?
On the value date, Sherolex Savings will distribute the Locked Savings product to your savings wallet, and your saving product will start to accrue interest.
4.What happens to my funds on the redemption date of a Locked Savings product?
On the redemption date, you will see both the initial tokens committed to the subscription and the interest accrued in your Sherolex account ‘balances’. This process takes place within 48 hours of applying for redemption.
5.Am I guaranteed to earn interest on Sherolex Savings products even if the crypto markets go down?
Yes. The interest rate on each product is guaranteed.
6.Will Sherolex Savings continue to add more products & support for tokens other than those currently available?
Currently we only support USDT, but we may add tokens that are appropriate and in demand as savings products.
7.How is the average annual return (APR) calculated?
The average annual return (APR) uses the average daily interest rate from the past 7 days, multiplied by 365.