What is the Annual Percentage Yield (APY)?
When looking for financial services and products, you need to understand various terms for different products. And if you have already opened a savings account […]
Introducing our new and improved blockbank tier system and earn program which will begin on the 20th of December🚨
250 USD worth of $BBANK
2% $BBANK — 2% APY on assets & 1% Cashback on Cards
2,500 USD worth of $BBANK
3% $BBANK — 3% APY on assets & 2% Cashback on Cards
10,000 USD worth of $BBANK
5% $BBANK — 4% APY on assets & 3% Cashback on Cards
Purchase Spotify & Netflix subscriptions with a blockbank debit card and get a 100% refund in $BBANK.
blockbank VIP Tier:
50,000 USD worth of $BBANK
10% $BBANK — 10% APY on assets (VIP Tier will receive an additional 10% in $BBANK on BTC, ETH, USDC, BNB, USDT, MATIC & AVAX, XRP) & 8% Cashback on Card.
Purchase Spotify & Netflix subscriptions with a blockbank debit card and get a 100% refund in $BBANK
Tier System Change FAQs:
What happens if I want to add BBANK to my existing old tier?
Users that have opted for the tier lock will have that amount locked in (greyed out). Any $BBANK added from the 20th of December onwards will be considered in the new tier system change.
Want to continue on the old Tiers for 12 months more?
Users who have already locked their $BBANK in earn must contact the support team to restart their timer to be eligible for the 12-month offer. Simply say: I want 12 months more.
12 months too long?
After six months, you can contact the Support Team to unlock tokens.
Do I have to be in VIP Tier to keep the old Tier system?
Anyone can lock in their preferred Tier.
EXAMPLE: if you are in TIER 2 before the 20+th of December and request to reset your timer, you will be offered the 12-month locking period at the old tier system.
What happens if I am still web-staking?
Users staking their assets on Web Staking are reminded that the APY is now set at 0 and must remove them & transfer them to the application to take advantage of current staking rates with the ability to earn by being grandfathered in. Anyone gaining VIP tier status before the 45-day limit, which starts on the 20th of December, will have access to VIP for 12 months at the current tier system.
How will the old Tier System work with cards & cashback being introduced soon?
Users that stake and submit a ticket before the 20th of December will receive these benefits for 12 months
Users the lock in their current Tier will receive the following:
TIER 1: 1+ $BBANK locked in the wallet: 2% APY on assets/$BBANK & 1% Cashback on cards.
TIER 2: 5,000+ $BBANK locked in the wallet: 4% APY on assets, 6% APY on $BBANK & 1% Cashback on cards.
TIER 3: 25,000+ $BBANK locked in the wallet: 6% APY on assets, 9% on $BBANK tokens & 2% Cashback on cards.
TIER 4: 100,000+ $BBANK locked in the wallet: 8% APY on assets, 12% on $BBANK tokens & 3% Cashback on cards, Spotify & Netflix subscriptions.
TIER 5: 500,000+ $BBANK locked in the wallet: 10% APY on assets, 20% on $BBANK tokens & 8% Cashback on cards, Spotify & Netflix subscriptions.
***Please note users who have already locked their $BBANK in earn must contact the support team to restart their timer to be eligible for the 12-month offer. – (THIS IS NOW CLOSED)
If you have any general questions, don’t hesitate to contact our Support Team — we will assist you! ⚡️