ETH Shanghai upgrade completed, Huobi pledged interest bearing wealth management to become a black horse with 14.97% APY

Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of MarsBit

Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of MarsBit.

Editor: Remember to follow me

Source: Blockchain Outlook

Original title: ETH Shanghai upgrade completed, Huobi pledged interest bearing wealth management to become a black horse with 14.97% APY

At 6:27:43 Beijing time on April 13th, the Ethereum Shanghai upgrade was officially completed at Epoch194048 altitude. This upgrade is the last step of Ethereum's transformation from proof-of-work to PoS. After the upgrade, the pledge withdrawal function will be enabled.

With the completion of the upgrade in Shanghai, the prices in the Ethereum secondary market have not plummeted as previously expected by the industry. As of the time of writing, according to CoinMarketCap data, the latest price of Ethereum is $2099.89, an increase of 9% within 7 days. This data reflects from a side perspective that the current upgrade to open up pledge withdrawals has not yet brought significant "selling pressure", causing a sharp drop in Ethereum prices.

At the same time, researchers from the digital asset management department of Fidelity Investment, the world's fourth largest mutual fund company, have stated that the impact of Shanghai's upgrade will be very weak regarding the question of whether it will trigger a sell-off trend in the long term. First, compared with the energy intensive proof-of-work system, the operating costs of the verifier under the proof of equity are much lower. Before the recent rebound allowed about half of the funds to be invested, most of the mortgaged Ethereum positions were in a loss making state.

In addition, we need to focus on liquidity pledge tokens and pledge service providers. These tokens allow people to participate in the pledge, while also being able to use or sell them. "Fidelity analysts also pointed out that one-third of the mortgaged Ethereum has already become liquid through these liquidity pledge tokens, which means that holders can exit before upgrading.

Based on the above analysis, the probability of Ethereum prices plummeting due to this upgrade is lower than expected. For investors, on the contrary, they can choose relevant pledge interest bearing products in the market through flexible pledge withdrawals, taking advantage of this heat to improve Ethereum's yield in a more stable way.

Whip the Fire into the Interior ETH2.0 Financial Management won the top spot with 14.97% APY

In response to the current Ethereum financial products in the market, the author surveyed four mainstream exchanges, namely Coin On, Ouyi, Huobi, and Bybit. The comparison results below are for readers' reference only.

In terms of ETH current financial products, all four exchanges have set 2-3 lockdown ladder thresholds, with two levels set by Coin An and Ouyi. At Coin An, the annualized return on lock-in positions of 0-0.2ETH is 0.25%, and the real-time floating return rate above 0.2ETH is around 0.6%; At EuroEase, the annualized return on lock-in positions of 0-0.4ETH is 5%, and the real-time floating yield rate above 0.4ETH is around 1%.

The other two exchanges, Huobi and Bybit, have set three levels of lockdown thresholds. At Huobi, the annualized yield for lockdown positions of 0-0.2ETH is 6%, the annualized interest rate for 0.2-1ETH is 5%, and the annualized interest rate for positions greater than 1ETH is 2%; At Bybit, the annualized yield for lock-in positions of 0-0.2ETH is 2.5%, the annualized interest rate for 0.2-1ETH is 0.5%, and the annualized interest rate for positions greater than 1ETH is 0.1%.

Taking 100ETH deposit for one year as an example, the highest returns that can be obtained in Coin An, Ouyi, Huobi, and Bybit are: floating income of 0.6005ETH, floating income of 1.016ETH, fixed annualized income of 2.032ETH, and fixed annualized income of 0.108ETH. From the perspective of return and stability of returns, Huobi's ETH current financial products are superior.

Let's compare the products related to ETH2.0 pledge. After investigation and calculation, the yield of Coin An pledge fluctuates in real time, with a sampling day of 3.84%; The return on pledge of Ouyi fluctuates in real time, with a sampling rate of 3.5% on the day of sampling; The stable pledge yield of Huobi is 4.79%, as it can enjoy an additional 10% platform subsidy for up to 30 days before April 30th, with a total yield of 14.79%; The Bybit pledge yield fluctuates in real-time, with a maximum of 6%. Overall, in the ETH2.0 pledge interest bearing product race, Huobi still stands out.

It is worth mentioning that Huobi ETH2.0 financial management not only has stable returns and high returns, but also has a low participation threshold, requiring only 0.1 ETH to participate. At the same time, a daily snapshot is taken, and the income is distributed on T+1 day. Users can also redeem their BETH at any time in a 1:1 ratio to ETH.

ETH Shanghai's upgrade has attracted regulatory attention, and the Merkel Tree of Huobi has proven to protect its products

Admittedly, investors can obtain significant profits through the aforementioned Ethereum pledge interest bearing products, but there are still many risks behind the upgrade and opening of the pledge withdrawal function, which has even attracted the attention of relevant regulatory authorities.

Since the collapse of FTX in November 2022 and subsequent frequent thunderstorms by crypto friendly banks such as Silvergate Bank, US regulatory authorities have imposed stricter regulations on crypto companies, including many companies that provide pledge services. According to previous reports, in February this year, the US SEC imposed a fine of $30 million on Kraken Exchange, accusing the company of engaging in illegal securities issuance through intermediary pledge services.

On the day of the successful merger of Ethereum last year, Gary Gensler, Chairman of the US Securities and Exchange Commission, directly named Ethereum and stated that the proof of equity mechanism should be regarded as a securities product and regulated. Numerous regulations have pointed to related pledge products, and the safety, compliance, and asset safety issues they reveal are worth attracting the attention of every investor.

In this regard, the author made a back talk about safety and compliance of Huobi, which has absolute advantage products above. It is reported that Huobi has always adhered to the development strategy of globalization and compliance, and has obtained compliance operation photography covering multiple regions around the world, such as the Canadian MSB license, the US MSB Trust license, and the British Virgin Islands SIBA license.

Not only that, Huobi also collaborates with multiple industry partners to improve user asset security levels through innovative technologies and create a secure and high-quality trading environment for users. Previously, Huobi signed strategic agreements with Fireblocks and others, and joined its Off Exchange settlement network to reduce counterparty risk; We also collaborate with other MPC wallet technology manufacturers to ensure asset security by utilizing advanced MPC technology and threshold signature algorithm TSS (Threshold Signature Scheme).

At the same time, a few months ago, Huobi also used the MerkleTree mechanism to provide a "100% reserve proof" and launched the reserve status viewing function. Users can view the reserve status of five mainstream assets, USDT, BTC, ETH, HT, and TRX, through the asset audit page of Huobi's official platform. For Huobi ETH2.0 financial products, users can observe whether their pledged Ethereum can be fully redeemed at any time through the above functions

From various considerations such as license compliance, technical cooperation, and asset transparency, Huobi ETH2.0 financial products not only ensure high returns but also consider safety. Overall, it is currently the best choice for Ethereum Shanghai to steadily increase profits after upgrading.

I hope that all investors can take advantage of the "ETH Shanghai Upgrade" and take advantage of the situation, shining their eyes, optimizing investment strategies in a timely manner, selecting suitable products, and creating new wealth highs.