What is Automatic Renewal?
Automatic renewal is an investment function embedded with Metalpha Dual-Earning Products.
Metalpha Dual-Earning reinvestment feature enables users to automatically invest in the Dual-Earning with the settled principal from the last term of such instrument. In other words, it entitles users to apply such an investment strategy by creating recurring purchases of Dual-Earning products, which may help users save time and improve funding utilization. After the product reaches maturity, the repayment amount will be reinvested automatically in the next term.
"Automatic Renewal" from Metalpha brings more convenience to users. When the investment currency changes to the target currency at the maturity stage, the system automatically chooses same-period Dual-Earning Products. Investors are encouraged to choose their preferred products based on risk preferences and enable"Automatic Renewal" to purchase such products continuously.
How does the Automatic Renewal work?
There are two steps when the app processes the Dual-Earning reinvestment procedure:
- The system will render you select the next term investment product based on the chosen reinvestment plan.
- On the Maturity Date 16:30 (UTC+8), the system automatically invests in the following term product with the repayment amount settled from the previous term.
*If your holding products are converted to the target currency on the maturity date, the system will automatically choose same-period Dual-Earning products. For example, if you purchased a 7-day ETH/BTC product, which is converted into ETH on the settlement day, the system will automatically invest in the 7-day BTC/ETH product.
How to initiate the Automatic Renewal feature?
There are two methods to enable Automatic renewal:
- On the [Purchase] page of Dual-Earning Products, turn on [Automatic Renewal].
- Sign in Metalpha App → Click in Wealth → Select current order under Dual-Earning Products → turn on [Automatic Renewal].
How to terminate the Automatic Renewal feature?
Sign in Metalpha App → Click in Wealth →Select current order under Dual-Earning Products → turn off [Automatic Renewal].
- After turning on the [Automatic Renewal], you can manually turn it off on your app at any time. As long as you do not turn off "Automatic Renewal," the order will remain in the "Automatic Renewal" state under normal circumstances.
- The reason for unsuccessful auto-renewal may vary, including insufficient balance, etc.; you can subscribe to the order again manually. If you have further questions about your unsuccessful automatic renewal, please contact Metalpha Customer Support Team.
- If your holding products are converted to the target currency on the maturity date, the system will automatically reinvest the product in the target currency. If the reinvestment product is converted into the original investment currency on the maturity date, you may receive a different amount from the initial investment.