Snowball
1. What is Snowball?
Snowball (previously known as Protective Earn) is a structured product designed to offer you better security with higher yields. During the holding period, settlements will vary based on different price conditions.
2. How does settlement for Snowball work?
For Snowballs purchased with USDT:
1. No Knock-In or Knock-Out (observation price never exceeds take-profit price nor falls below protection price) Normal settlement at maturity, where: Settlement Amount = Principal + Principal * APR / 365 * Holding Term
2. Knock-Out (observation price exceeds take-profit price on any day) Settlement Amount = Principal + Principal * APR / 365 * Holding Term
3. Knock-In (observation price falls below protection price on any day) Settlement Amount = Principal / Initial Price of Target Currency + Principal * APR / 365 * Holding Term / Observation Price of Target Currency on Settlement Day
For Snowball purchased with target currencies (such as BTC/ETH):
The first and second scenarios are the same as above. 1. No Knock-In or Knock-Out (observation price never exceeds take-profit price nor falls below protection price) Normal settlement at maturity, where: Settlement Amount = Principal + Principal * APR / 365 * Holding Term 2. Knock-Out (observation price exceeds take-profit price on any day) Settlement Amount = Principal + Principal * APR / 365 * Holding Term
3. Knock-In (observation price falls below protection price on any day): Settlement Amount = Principal * Observation Price on Knock-In Day / Initial Price + Principal * APR / 365 * Holding Term
3. How to Subscribe
Method 1. Go to KuCoin Earn, select Structured Products, Snowball. From there, select your target currency and currency you wish to subscribe in, your desired APR and related parameters, then finally select Subscribe to proceed and confirm your purchase.
Method 2. Access the KuCoin Earn homepage, then select Snowball under the list of structured products.
4. Where can I view my subscribed Snowball products?
Web:
Access the Financial Account through the top navigation bar to view the products you’ve subscribed to. Under Details, you’ll be able to check the status of any purchased products.
App:
Access your Financial Account through the Account icon at the bottom of the app, and tap to view the products you’ve subscribed to. Select the subscribed products to check their statuses.
5. Where can I see the settlement amounts of my Snowball products?
Web:
Access your Financial Account from the top navigation bar, select Account Details, filter by product type, and look for your Snowball transaction details.
App:
Access your Financial Account from the Account icon at the bottom of the app, select Account Details in the top right, and look for your Snowball transaction details.
6. Auto-Compound
After subscribing to a Snowball, a notification will appear indicating whether its subscription is in progress or completed. From there, you can choose to toggle Auto-Compound on.
When Auto-Compound is on, upon maturity, your principal and any earnings are automatically re-rolled into another Snowball of the same currency, trade direction, and holding term. Snowballs enabled with Auto-Compound will start accruing interest the next day.
However, do note that Auto-Compound may not occur in instances where the max quota for the specific product has been met, if it is delisted, or in scenarios of extreme market fluctuations.