This is a general announcement. This announcement is not intended for users in regions where products and services referred to here are not available.
Due to popular demand, Binance Margin is excited to extend a new promotion for BTC, ETH, XRP, SOL, DOGE, OP, ARB, SHIB, LINK and LTC at 2023-09-13 06:00 (UTC).
Promotion Period: 2023-09-13 06:00 (UTC) to 2023-09-25 06:00 (UTC)
During the Promotion Period, all users who borrow any of these eligible cryptocurrencies on Binance Margin, will automatically receive a one-hour interest fee waiver.
User A and User B have each borrowed 10 BTC at 2023-09-15 05:20 (UTC). Both User A and User B then complete repayment on the same day at 06:15 (UTC) and 05:55 (UTC) respectively.
Given that interest on Binance Margin accrues at the start of every hour (e.g., at 05:00, 06:00, etc.), User A and User B should be charged for two hours and one hour of interest respectively under standard circumstances (i.e., outside of the Promotion Period).
Assuming that the hourly interest rate for borrowing BTC is 0.001%, User A will be charged an interest of [0.001% * 10 BTC * (2 - 1) hours] = 0.0001 BTC, since users will automatically receive a one-hour interest fee waiver during the Promotion Period.
On the other hand, since User B has completed repayment within the first hour of borrowing, there is no interest charged. The interest calculation is as follows: [0.001% * 10 BTC * (1 - 1) hours] = 0 BTC.
For more information on Binance Margin’s dynamic interest rate system, please refer to the FAQ.
Guides & Related Information:
Terms & Conditions:
Please refer to Margin Data for a list of the most updated marginable assets and further information on specific limits, collateral ratio and rates.
Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this Promotion, the eligibility terms and criteria, and the timing of any act to be done, and all Participants shall be bound by these amendments.
Additional promotion terms and conditions can be accessed here.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.