Lira Boost FAQ
1. What's Lira Boost?
Lira Boost is part of Earn that gives you a way to get overnight earnings in Turkish lira. The earnings come from our partner bank.
Lira Boost offers may work differently from other Earn offers and vary in APY, earnings schedule, redemption processing time, and source of earnings.
Lira Boost is only offered on OKX TR App.
2. What's Auto-boost?
Auto-boost automates your Lira Boost. When it's turned on, we'll move idle Turkish lira from your portfolio into Lira Boost. This will happen 2 hours before earning starts every working day.
Auto-boost doesn't affect Turkish lira that you have in recurring buy orders, open orders in Exchange mode, and already in Lira Boost.
You can turn off Auto-boost anytime. You can also always deposit more into Lira Boost manually, even with Auto-boost turned on.
3. How do I deposit and redeem TRY?
How to make a deposit
Set aside how much TRY you want to invest in the TRY lira boost
Select Lira Boost and check the details: APY, earnings schedule, redemption rules, and source of earnings
Enter the amount you want to earn and we'll start processing your deposit
Deposits are only available before earning starts on bank working days
How to redeem your deposit
You can wait for auto-redemption or redeem your deposit manually, up to 5,000,000 TRY
We'll auto-redeem both your deposit and earnings on the next working day after you deposited
You can also redeem early anytime except for 90-minute bank processing time right after earning starts
If you redeem early, you won't get any earnings for this cycle
After the redemption is processed, your TRY will go into your portfolio
4. What are the deposit rules ?
You can deposit anytime except for bank holidays. To qualify for same-day earnings, deposit before earning starts:
Before 16:30 on a full working day
Before 11:30 on a half-day
5. What are the redemption rules ?
Get earnings after auto-redemption:
Our partner bank will confirm your earnings by 05:00 on the next working day
Once confirmed by bank, we'll automatically send both your deposit and earnings to your portfolio by 10:00
We'll also withhold earnings tax from your portfolio after redemption. This is required by local authorities
Redeem instantly without earnings:
You can redeem anytime, except for 90-minute bank processing time right after earning starts:
16:30 - 18:00 on a full working day
11:30 - 13:00 on a half-day
You won't get any earnings if you redeem it before the bank confirms your earnings by 05:00
Redemptions are limited to 5,000,000 TRY per cycle
6. Where do my earnings come from?
When you deposit your Turkish lira, we send it to our partner bank. It holds and manages your funds to generate earnings for you.
7. What determines how much I earn?
The annual percentage yield (APY):
Reflects the potential earning rate of an offer based on a one-year-deposit
Doesn't guarantee future earnings
May change after you make a deposit
Doesn't include compounding
Your actual earnings may be based on:
Bank rate changes
Tax rate changes
Length of deposit
Other factors
8. What are the fees for Lira Boost?
We don't charge any fees for Lira Boost. Note that we'll automatically withhold tax when you get earnings to your portfolio. This is required by local authorities.
9. What risks is OKX TR not responsible for?
OKX TR offers different sources of earning and provides related services such as project display and revenue distribution. OKX TR doesn't take responsibility for any asset losses caused by potential risks, including:
Possible contract vulnerabilities
Hacking incidents
Termination of business, bankruptcy, and abnormal suspension
Cessation of trading of third-party platforms or projects
Learn more here: Lira Boost User Agreement