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Popular crypto exchange BitMart announces a limited-time flash sale for Shiba Inu’s artificial intelligence partner token Bad Idea AI (BAD).
According to an announcement yesterday, the move is part of an effort to celebrate the listing of Bad Idea on the BitMart Fixed Savings product.
“To celebrate @badideaai $BAD listed [listing] on BitMart, BitMart Earn is offering a limited-time flash sale for Fixed Savings product on BAD,” an excerpt from the announcement read.
🔥To celebrate @badideaai $BAD listed on BitMart, BitMart Earn is offering a limited-time flash sale for Fixed Savings product on BAD & enjoy 75% APY! ！🤑🤑🤑
💎30-Day
💎75% APY🚀EARN: https://t.co/MVMYcwZtMs
👉Details: https://t.co/IetrB2engo#BitMart #cryptocurrency pic.twitter.com/3h3TeBFAtQ— BitMart (@BitMartExchange) May 22, 2024
BitMart Lists BAD on Its Fixed Savings Product
For context, BitMart rolled out support for BAD on its Fixed Savings program yesterday at 08:00 PM (UTC). The exchange offered an estimated return of up to 75% for BAD, with a lock-up period of 30 days.
To put it into perspective, a BitMart user who subscribes with 5,000 BAD with a 30-day lock-up period will earn an interest of 308.21 BAD.
The interest is calculated by multiplying the user’s principal by the annualized interest rate of 75%. Afterward, the total is then multiplied by 30/365. Users cannot redeem their funds until the scheduled redemption date. The funds, including the principal and interests, will be paid to the users’ spot wallet at zero fees on the redemption date.
Notably, the fixed savings product for BAD has a total subscription volume of 56,760,000,000 (56.76 billion) BAD. Consequently, subscription to the product is based on a first-come-first-serve basis. Interestingly, the fixed savings product for BAD has already sold out in the hours leading up to press time.
BitMart’s Support for BAD
Meanwhile, BitMart’s support for Shiba Inu’s partner token dates back to July 2023. At the time, the exchange listed BAD for spot trading under the BAD/USDT pair.
Furthermore, the exchange expanded its support for BAD by rolling out a fixed savings product for the token on September 6, 2023, featuring a 90% APY and a 30-day lock-up period. The previous savings program had a subscription volume of 1.59 trillion BAD tokens.
On November 29, BitMart offered a 24-hour flash sale for its users, allowing them to purchase BAD at a discount of 50% below the asset’s 7-day average price.