We have made the difficult decision to suspend all withdrawals, trading, and deposits on the Vauld platform with immediate effect. We believe that this will help to facilitate our exploration of the suitability of potential restructuring options, together with our financial and legal advisors. We seek the understanding of customers of the Vauld platform that we will not be in a position to process any new or further requests or instructions in this regard.
To read more about this, please visit: https://support.vauld.com/en/collections/2888465-vauld-announcements-and-faqs
You earn interest on Vauld daily, which means that everyday you leave assets on the platform earns you interest. Also, the interest is in-kind, which means a deposit of Bitcoin earns interest in Bitcoin. The interest is credited weekly i.e every Monday. Unless, you've got your assets in a Fixed Deposit (FD) in which case the interest is credited once the FD matures. Do note that you don't earn interests locked in a limit order or being used as collateral for loan.
Base Interest Rates Calculation
To explain how interest is calculated on Vauld, let's talk an example:
The date is 1st December 2020 and you just deposited 5000 USDT into your account. The calendar looks like the image below.
The base interest rate Vauld offered on USDT when this article was written i.e February 2020, was 9% which is the annual percentage rate or APR. The interest earned for the 1st of December is
This, approximately, 1.23 USDT is the interest going to be earned everyday till the 6th of December i.e Sunday. So the total interest that will be credited on the 7th or Monday is
Instead, let's say you decide to deposit an additional 1000 USDT on the 6th of December that is Sunday. The interest earned till the 5th will be
And the interest earned on the 6th or Sunday would be
Adding them, the total interest received on 7th December or Monday is:
Come Monday or the 7th of December this interest is credited to you since Vauld credits interest weekly.
This cycle repeats, except for this week your principal will be the 6000 USDT plus the interest of 7.64383561 USDT. Hence you'll be starting with a principal of 6007.64383561 USDT. On Monday or the 7th of December the interest earned will be
This is how interest is calculated every day and credited weekly.
Fixed Deposit Interest Rates Calculation
Once you've gotten hang of the how base interests are calculated, the Fixed Deposit (FD) rates are simple. Going with a new example of an account with a deposit of 1 BTC. The asset is placed in an FD with an interest rate of 7% (Please note, this is an illustrative rate and may not match the actual current interest rate). Upon maturation after a month, the FD will payout with an interest of
Thus, the total payout at the end of the first month will be 1.00575343 BTC
If you choose to keep your FD in an auto renew with both the principle and interest getting renewed then the next month's interest shall be
With the total payout at the end of the second month being
This way each subsequent month proceeds and results in a yearly interest of 7.23%.