Haru Invest promo: Get 2% Free Cashback (17 March-2 April 2023)

During 17 March 2023–2 April, Haru Invest provides up to 2% FREE cashback for every new Haru Earn Plus deposit created.

Haru Invest is back with another limited promotion for its us (17 March — 2 April 2023).

All users who create a Haru Earn Plus lockup with a minimum duration of 90 days, will receive up to 2% FREE CASHBACK on their lockup paid out in USDT.

This promotion is a little bit different from the Christmas promotion of 2022, where users simply received bonus interest rate to their lockups. Actually, the promotion rules a little tricky, so please read on for the full details

Haru Invest Cashback promo: Decoded

The promotion is valid only for Haru Earn Plus new lockups created during the promotion period 17 March–2 April 2023. It is not applicable to existing Haru Earn Plus lockups, or the products Haru Wallet, Haru Earn Explore or Haru Freeze[2]. However, if you have an existing Haru Earn Plus lockup, which is set to “Auto renew” and refreshes during the promotional period, it will benefit from the cashback[2].

According to the official rules, all cashbacks will be provided to users on 14 April 2023. The cashback itself is another Haru Earn Plus lockup in USDT which is a percentage of the principal size of the created lockup. The size of the cashback lockup users will receive is calculated via the following formula[1]:

• 14–89 days lockup: 0% cashback
• 90–179 days lockup: 0.50% cashback
• 180–269 day lockups: 1% cashback
• 270–364 days lockup: 1.50% cashback
• 365 days lockup: 2% cashback

The cashback reward is available for all supported Haru Earn Plus currencies, however the reward itself is always provided as an USDT Haru Earn Plus lockup ($BTC, $ETH, $XRP, $USDT, $USDC), with the percentage being calculated according to prices provided by CoinMarketCap on 15 March 2023[1]:

Image 1: Haru Invest cashback size scaling[1].

• BTC: $24,375.96
• ETH: $1,656.18
• XRP: $0.3606
• USDT: $1.00
• USDC: $1.00

Illustrative example

Since the rules a little bit tricky, here is an easy to understand example of the process:

1. When you create a Haru Earn Plus lockup during the promotion period of 17 March — 02 April 2023, you also receive a separate cashback lockup as a another Haru Earn Plus lockup. Let’s say you create a Haru Earn Plus lockup of 1000 USDT for 365 days is created on 17 March 2023, which ends on 17 Mach 2024)
2. This separate “cashback lockup” is provided to your account on 14 April 2023.
3. The “cashback lockup” in reality is an additional Haru Earn Plus lockup in USDT. Its duration copies the duration of the original lockup. So this would mean, if I have created a 1000 USDT Haru Earn Plus lockup on 17 March 2023, on 14 April 2023 I am supposed to see the new “cashback lockup” in my account which will be an another Haru Earn Plus lockup for 20 USDT (2% * 1000 USDT = 20 USDT).
4. This new “cashback lockup” will expire on the same date as the original one: 17 March 2024. On 17 March 2024, you should be actually able to transfer that 20 USDT cashback to your Haru Wallet.

Cashback interest question

Haru Invest team has still not made it explicitly clear what is the interest gained by the “cashback lockup” itself (which according to our current understanding is also “locked” until the end date of the original “lockup”). It is logical that users will receive also interest from the USDT cashback Haru Earn Plus lockup too, but this question still must be confirmed by the team.

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DISCLAIMER: The content of this webpage is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

References:

1. Haru Invest, Crypto Cashback is here, get up to 2% cashback, 17.03.2023: https://haruinvest.com/crypto-cash-back
2. Reddit, Crypto cashback starts today!, 17.03.2023: https://www.reddit.com/r/HaruInvest/comments/11tauwx/crypto_cashback_starts_today