Fellow Binancians,
Binance Pool will launch the 17th phase of Dual Savings products on 2020/11/18 (UTC).
- Subscription Format: First-come, first-served basis.
- Subscription Period: 2020/11/18 4:00 AM - 2020/11/19 4:00 AM (UTC)
Dual Savings Product Details (Subscribe now)
Digital Asset | Days | Annualized Interest Rate | Ref. Strike Price (USD) | Limit | Delivery Date |
USDT | 22 Days | 52% | $17250.00 | 100,000 USDT | 2020-12-11 |
USDT | 36 Days | 38% | $16750.00 | 100,000 USDT | 2020-12-25 |
BUSD | 22 Days | 52% | $17250.00 | 100,000 BUSD | 2020-12-11 |
BUSD | 36 Days | 38% | $16750.00 | 100,000 BUSD | 2020-12-25 |
Example: A user buys a share of a Dual Savings product worth 1 BTC (the Strike price is $X and the Annualized interest rate return is Y%). When the product expires on the delivery date:
- If the BTC settlement price ā„ the strike price, then the user's settlement currency will be BUSD. The user will receive 1 * X * (1 + Y% / 365 * Deposit days) BUSD.
- If the BTC settlement price is < the strike price, then the user's settlement currency will be BTC. The user will receive 1 * (1 + Y% / 365 * Deposit days) BTC.
Note:
- The actual strike price of the contract may not reflect the Ref. Strike price in the initial announcement. The actual strike price will be adjusted according to the spot price changes in the 24 hours after the initial offer period,referred spot price is $13,716.
- Users can view their Dual Savings assets by going to Pool > Dual Savings > Order record icon in the upper right corner.
- The calculation method of the settlement price is based on an index of BTC prices across seven different exchanges: Bitstamp, Bittrex, Coinbase Pro, Gemini, Kraken, Itbit, and LMAX Digital. During settlement, the highest and lowest prices from these exchanges will be removed from consideration, and the average price from the remaining five exchanges will be used as the final settlement price. The settlement time is 8:00 AM (UTC) on the day the product expires.
- Delivery Date: Refers to the date the investment product ends. On this date, the funds you allotted for a Dual Savings product will be automatically returned to your Spot wallet, including the interest.
- Settlement Currency: Refers to the payment currency, which is determined based on the maximum principal return on the delivery date. The specific settlement currency depends on the difference between the settlement price and the pegged price on the delivery date.
Risk Warning: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any direct, indirect or consequential losses. Please make your investments with caution.
Thanks for your support!
Binance Team
2020/11/18
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