1. What is Binance On-Chain Yields?
Binance On-Chain Yields is a service that enables you to access certain DeFi protocols through your Binance account in a streamlined and simplified manner. Binance will publish available offers on its Platform. If you choose to participate, Binance will stake your assets on the relevant protocol and pass through any applicable yield minus commission, subject to any terms, conditions, restrictions or limitations set by the protocols.
2. What types of rewards are available with Binance On-Chain Yields?
On-Chain Yields offers various types of rewards depending on the on-chain protocols, including tokens and points.
For tokens already supported on Binance, rewards will be distributed directly to your Binance Spot Account for use.
For rewards that are tokens or points not supported by Binance, you’ll need to provide your on-chain wallet address, and Binance will distribute the rewards to the on-chain address specified by you.
3. Are Binance On-Chain Yields returns guaranteed?
On-Chain Yields involves significant risks, and any rewards depend entirely on the underlying DeFi protocols. There is no fixed rate or guarantee of rewards and you bear the risk associated with each protocol. It is strongly recommended that you conduct thorough research and seek independent advice before participating.
Please see our On-Chain Yields Terms, Terms of Use and Risk Warning for more information and consider carefully whether On-Chain Yields is appropriate for you.
4. What are the risks of Binance On-Chain Yields?
On-Chain Yields is a high-risk product. Rewards depend on the specific protocol and are not guaranteed. Each protocol may carry various risks, including but not limited to:
We strongly recommend that you conduct thorough research and seek independent advice to understand the potential risks before participating in On-Chain Yields. Binance is not liable for any asset losses due to on-chain protocol issues.
For more information, including information on some of the risks you may encounter, please refer to our On-Chain Yields Terms, Terms of Use and Risk Warning.
5. How to participate in Binance On-Chain Yields?
You can participate by visiting the On-Chain Yields page and selecting the offer and protocol that you wish to participate in. Binance will facilitate the transfer and staking of your subscribed assets to the relevant on-chain protocol and the delivery of your rewards in accordance with the terms of your subscription.
6. How are rewards calculated in Binance On-Chain Yields?
Rewards are calculated based on the actual yield generated by the relevant protocol during the subscription period. Binance may display an estimated rate (the ‘Defi Rate’) for reference, however the final rewards distributed to you may not reflect the DeFi Rate. Binance consolidates and calculates your rewards, deducts fees, and distributes the final amount to you. Please see our On-Chain Yields Terms for more information.
7. When do rewards start to accrue?
Rewards will begin to accrue the day after subscription, starting at 00:00 UTC. You’ll be able to view your reward distributions on On-Chain Yields page from T+2 day.
Please note: There may be a delay of up to 8 hours due to the complexity of the data.
For example, if you choose to stake your BTC today (T-day), your rewards will start accruing the next day (T+1 day), and the rewards of T-day amount will be distributed on the next day after accruing (T+2 day).
8. Can I redeem assets after subscribing to On-Chain Yields product?
Redemption availability depends on the terms of your subscription along with any terms, conditions, restrictions or limitations imposed by the relevant protocol.
For subscriptions that are not subject to a locked duration, you can submit a redemption request at any time. There is a waiting period of up to 72 hours before receiving the assets, during which time you can check the status of your redemption in your Spot Account.
For subscriptions that are subject to a locked duration, your ability to redeem your assets before the conclusion of the locked duration and the process for doing so will depend on the terms of your subscription as determined by the underlying DeFi protocol. In some cases, early redemption may not be available or may result in forfeiture of rewards.
Please see our On-Chain Yields Terms for more information. Additionally, please be aware that there may be potential processing limitations due to network failures or congestion.
9. If I redeem assets, will I still receive the rewards during the redemption waiting time?
No, the assets that you redeem will not be eligible for rewards during the redemption waiting period.
10. Once I start a redemption, can I stop it?
No, the redemption process is not reversible once started. However, you can re-subscribe (subject to availability).
