Binance Announces Promotion for Fixed Rate Loans with Prizes Up to 799 USDC

Binance has launched a brand new promotion to have fun the introduction of its Mounted Charge Loans, based on an official announcement. The promotion gives debtors and suppliers with enhanced liquidity choices and the chance to win as much as 799 USDC in token vouchers.

Promotion Interval: 2024-09-19 05:00 (UTC) to 2024-10-11 23:59 (UTC).

Promotion Particulars

Through the promotion interval, customers who borrow not less than a complete of $200,000 equal on Mounted Charge Loans shall be ranked by their whole borrow quantity in USD Equal. The highest ten eligible contributors will every obtain 799 USDC token vouchers. Eligible borrow orders embody borrowing from present provide orders or inserting a borrow order that will get matched.

Equally, customers who full not less than one provide order on Mounted Charge Loans shall be ranked by their whole provide quantity in USD Equal. The highest 30 eligible contributors will every obtain 100 USDC token vouchers. Eligible provide orders embody supplying to present borrow orders or inserting a brand new provide order that will get matched.

How Binance Mounted Charge Loans Work

To Borrow on Mounted Charge Loans:

1. Place an Order: Click on [Place an order] – [I want to Borrow] to arrange borrow data or click on [Borrow] subsequent to a most well-liked order beneath “Borrow Market”.
2. Arrange Collateral: Choose eligible belongings from the Spot Pockets as collateral to fulfill the Preliminary LTV (Mortgage-to-Worth) requirement.
3. Affirm Order: Overview and ensure the order particulars and the Phrases & Circumstances, then click on [Confirm].
4. Order Matched: As soon as the order is matched, the borrowed funds minus the pre-calculated pursuits shall be transferred to the Spot Pockets. Examine the order standing in [My Order] – [Ongoing Order].
5. Compensation: Repay the mortgage in full earlier than the expiry date to keep away from the Late Price.

To Provide on Mounted Charge Loans:

1. Place an Order: Click on [Place an order] – [I want to Supply] to arrange provide data or click on [Supply] subsequent to a most well-liked order beneath Provide Market.
2. Affirm Order: Overview and ensure the order particulars and the Phrases & Circumstances, then click on [Confirm].
3. Order Matched: As soon as the order is matched, the provided funds shall be transferred from the Spot Pockets and shall be principal-protected by Binance all through the order. Return Curiosity begins accruing on matching. Examine the order standing in [My Order] – [Ongoing Order].
4. Compensation: After the mortgage expires, the loaned belongings and Return Curiosity shall be delivered to the Spot Pockets inside 24 hours following the expiry date. Examine the belongings within the Spot Pockets.

Extra Data

Eligible customers will obtain USDC token vouchers inside three weeks after the marketing campaign ends. Customers can log in and redeem their token voucher rewards through Profile > Rewards Hub. All distributed token vouchers will expire inside 30 days after distribution, so eligible customers ought to declare their voucher rewards earlier than the expiration date. Every consumer can obtain a most of 1 reward from these promotions, and every sub-account won’t be seen as an unbiased account when collaborating on this promotion.

USDC is an e-money token issued by Circle Web Monetary Europe SAS. Holders of USDC have a authorized declare towards Circle SAS and might request redemption of their USDC from Circle SAS at any time and at par worth.

For extra particulars on how Binance Mounted Charge Loans work, customers are inspired to confer with the Mounted Charge Loans FAQ, Versatile Loans FAQ, and VIP Mortgage FAQ.

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