JAKARTA - PT Pintu Kemana Saja with the brand name PINTU, the leading crypto asset trading and investment platform in Indonesia, has extended the reward program of up to 15 percent Annual Percentage Yield (APY) contained in the Pintu Earn feature until June 30, 2022. The extension of this program is for users DOOR that stores USDT (Tether) or USDC stablecoin crypto assets in the Earn Doors feature.
Timothius Martin, PINTU's Chief Marketing Officer, said that since the Pintu Earn feature was launched in early 2022, his party has received a positive response from people who have taken advantage of and benefited from this feature.
"In order to increase customer satisfaction, we are extending this promo until June 30, 2022. This program is also our effort to introduce stable value crypto assets to the public while providing education regarding crypto asset investment, especially stable coins such as USDT and USDC so that people understand more about assets. invested crypto," said Timothy in a written statement, Friday, June 3.
Quoted from Pintu Academy, stablecoins are crypto assets that are specifically designed or pegged to a specific asset such as the US dollar or other commodities such as gold in a 1:1 ratio. However, once this exchange rate is fixed with a particular asset, the value of that crypto asset can fluctuate and technically the value of that asset may differ from that of the pegged asset.
In simple terms, stablecoins are crypto currencies that bridge crypto assets with certain commodities so that they can offer relatively stable prices because they are backed by reserve assets.
These stablecoins basically combine the advantages of crypto assets and fiat currencies or native assets with fast transaction processing and maintain the security of crypto assets, and the value of fiat currencies or real assets.
"Recently, there is a lot of discussion about the stable coin Terra USD (UST), which is an algorithmic stablecoin, guaranteed by the crypto asset Terra (LUNA). The UST stablecoin owned by LUNA has different fundamentals from USDT and USDC. To maintain the price of Terra USD (UST) remains being at $1, is done by burning LUNA tokens to mint new UST tokens. Meanwhile, Tether (USDT) and USD Coin (USDC) are fiat-collateralized stablecoins or stablecoins that are backed by fiat money, namely US dollars. USDT/C is guaranteed with the same amount of US dollar reserves," said Timo.
Launched in 2014, USDT is the most popular stablecoin by market cap. While USDC, which was launched in 2018, ranks second as the largest stablecoin by market capitalization.
Timo added, seeing what happened to the UST and LUNA tokens, PINTU users don't have to worry about users' assets in Pintu Earn being certain that they don't have exposure to UST. The Earn door offers a 15 percent APY reward bonus for users who hold the USDT and USDC stablecoin assets, pegged at a 1:1 ratio to USD, in the Earn wallet.
"The two stablecoin assets are supported by fiat cash-reserves, so they are different from the UST mechanism, which is not supported by cash reserves. So users of the Pintu Earn feature will still get interest rewards every hour and can top-up and withdraw assets whenever they want," he said.
The PINTU application extends the Pintu Earn program which provides a reward of 15 percent APY or Annual Percentage Yield which is an annual bonus that one can get from an investment instrument owned. This program applies to all PINTU users who have stored USDT/USDC crypto assets at the Earn Doors or who are doing top-ups for the first time and store their assets at the Earn Doors during the validity period.
In addition to the two stablecoins, there are seven other investment token options in the Earn Doors, ranging from Bitcoin, Ethereum, Binance Coin, Dogecoin, Polygon Matic, Sandbox, and Ren.
"The Earn Door is one of PINTU's innovations that can help attract people to start trying crypto asset investments which of course must be safe and easy. Not only attracting the public's interest, but we also participate in providing education about investing in crypto assets so that investors can invest wisely," concluded Timo.
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