What is the Annual Percentage Rate (APR)?

The Annual Percentage Rate is a dynamic rate that programmatically updates on a daily basis and is based on the previous 7 days average. You can view LsETH’s current annualised reward rate here.

How is the APR calculated?

All rewards received while holding LsETH are the ETH network rewards received for participating in staking on Ethereum. Ethereum’s staking reward rate is variable, and changes based on the total percentage of all circulating ETH that is staked. The rewards received while staking through Liquid Collective reflect the ETH staking reward rate (consensus layer rewards), execution layer rewards received, including MEV, Liquid Collective’s validator performance, and other factors. You can learn more about how LsETH’s reward rate is calculated here.

How do I redeem my rewards on BIT?

To access your ETH rewards, all you have to do is sell some or all of your LsETH/USDT.

LsETH represents more than just staked ETH. Because it is based on the cToken model, the redemption rate at which LsETH can be converted back to ETH dynamically incorporates any accrued rewards, and adjusts for any applicable fees and penalties.
That means the value of any ETH network rewards you have received are already reflected in the value of your LsETH holdings. This is because the redemption value of each LsETH token, relative to the value of ETH, will have changed to account for the ETH network rewards received while you held the LsETH.

That means that the value of any ETH network rewards received are already reflected in the value of your LsETH because the redemption value of each LsETH token, relative to the value of ETH, will have changed to reflect the ETH network rewards received while you held the LsETH. To access rewards, all you have to do is sell some or all of your LsETH.

It’s important to note that the native value redemption value of LsETH (as defined by the Protocol Conversion Rate) is separate and independent from the rate at which LsETH may trade on the open markets. The market value of LsETH is also influenced by market conditions and overall demand and supply dynamics. However, the market rate for trading LsETH is unlikely to drift significantly from the Protocol Conversion Rate, given the opportunity for arbitrage between the price in the secondary market and LsETH/ETH Protocol Conversion Rate.

​The redemption value of LsETH is dynamic. It reflects the value of underlying staked ETH plus the value of ETH network rewards that have been received, minus the value of any fees or penalties paid.

Learn more here.

Will I Continue to Receive Rewards if I Sell My LsETH on BIT?
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You will receive rewards only up to the date and time that you sell your LsETH. Accumulated rewards can be checked under your assets within the LsETH section in BIT’s APP.
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Will I Continue to Receive Rewards if I Transfer My LsETH on BIT?
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If you were to transfer your LsETH from BIT to another platform, you will continue to receive LsETH rewards. However, you will no longer be able to view your accumulated rewards in the BIT App. The accumulated rewards will only reflect your rewards up to the point when you hold LsETH.
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What is the LsETH haircut ratio?
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The haircut ratio of LsETH on BIT is 1.

BIT calculates the total USD collateral collateral of a unified margin (UM) account based on currency haircut ratios. The higher the haircut ratio of a currency, the lower the conversion rate of that currency as collateral.

Based on the risk profile of each currency, BIT classifieds them into different tiers. For more information with regards to the fees, click here.