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Binance Launches 14.8% APY Stablecoin Savings Products, Receive a Random DeFi Token Bonus!
Binance will add BUSD, USDT, USDC to Binance Savings at 2020/08/19 12:00 PM (UTC), where 14-day products will be made available. All users who successfully subscribe to the savings products will also receive random DeFi token bonuses and enjoy double the rewards. Detailed information is as follows:
Savings Activity Product Details (Subscribe now)
- Subscription Format: First-come-first-served basis.
- Subscription Period: From 2020/08/19 12:00 PM (UTC) to 2020/08/20 12:00 PM (UTC).
- Interest Calculation Period: 2020/08/20 12:00 PM (UTC) to the end of each respective product period.
|Digital Asset||Term to Maturity||Total Cap||Individual Cap||Annualized Interest Rate||Lot Size|
* The annualized interest rate is 14.8%, which includes a bonus DeFi token worth the same 7.4% annualized return.
DeFi Token Bonuses
- Users will receive an additional DeFi token bonus for each lot subscribed, the value of which is equivalent to the interest income per lot. Specifically, the interest income of one lot of currency is 0.284 USDT, and the value of the bonus DeFi tokens is 0.284 USDT.
- The DeFi token bonuses will be given to users from the following 12 coins at random: COMP, MKR, SNX, BAL, LEND, REN, BNT, LRC, KNC, KAVA, RUNE and YFI.
- The DeFi token bonus will be distributed within 7 days after the end of the event, and the interest income will be distributed on the day of redemption.
- If the "auto transfer" function is used to transfer out a fixed-term asset, all returns will be automatically forfeited.
- Amounts subscribed to Binance Savings products will not be able to receive corresponding staking rewards.
- DeFi token bonus distributions will be based on the price of each DeFi coin on the day of rewards distribution.
- Subscriptions will close on a certain product once the maximum limit is reached.
- Binance Savings will make adjustments to the types of supported assets, interest rates, individual limits and total subscription limits based on market conditions and our internal risk management.
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