How to Participate in BNB DeFi Festival Exclusive Rewards with Binance Wallet?

There are two ways to deposit or transfer assets to your Binance Wallet:

• By transferring from the Binance Exchange to the Binance Wallet using the [Receive] button on the Binance Wallet homepage.

• By sending assets from an external wallet to your Binance Wallet using the [Receive] button.

For more details, please refer to How to Send and Receive Tokens on Binance Wallet.

1. Go to [Earn] - [Simple Yield] - [BNB DeFi Festival] - [BTCB(Solv)].

2. Tap [Subscribe] in the Solv staking interface. Enter the amount to stake. Review estimated daily yield and gas fee, then tap [Next] - [Confirm] - [Confirm].

Please note: The minimum stake amount to be eligible for the campaign rewards is 0.001 BTCB.

Please note: You must have 0.0002 - 0.001 BNB (~$0.02 - 0.1) to cover the gas fees for depositing.

3. Once complete, you’ll see a “Staking Successful” pop-up with transaction details and the BTC+ token in your Binance Wallet.

1. Go to [Earn] - [Simple Yield] - [BNB DeFi Festiva] - [USDT(Bouncebit)].

2. Tap [Subscribe] in the BounceBit staking interface. Enter the amount to deposit. Review estimated daily yield and gas fee, then tap [Next] - [Approve USDT] - [Confirm].

Please note: The minimum supply amount to be eligible for the campaign rewards is 100 USDT.

Please note: You must have 0.00003 - 0.0001 BNB (~$0.03 - 0.1) to cover the gas fees for supplying.

3. Once complete, you’ll see a “Staking Successful” pop-up with transaction details.

Important notes: 

• The project does not return a liquid staking token after staking, please check your staking position on BounceBit’s DApp or staking pool page
• Staked assets can only be redeemed after a lockup period of 7 days.

Once you’ve deposited USDT, you can view your position on the BouceBit USDT pool.

Please note: Redemption amount will not be included in the total assets, please tap ‘History’ area to view your redemptions details.

Step 1: Withdraw SolvBTC from BTC+

1. Log into your Binance Wallet and go to [Earn] - [Simple Yield] - [BNB DeFi Festival] - [BTCB(Solv)]. 

2. Select [Redeem], enter the amount of BTC+ to withdraw and tap [Next] - [Approve BTC+] - [Confirm].

3. Once the withdrawal has been processed, you’ll see a “Redemption Successful” pop-up and SolvBTC will be returned to your Binance Wallet. 

Please note:

• SolvBTC redemptions can take up to 21 days to be processed.
• Withdrawal requests will be processed three times monthly.
  • Requests submitted from the 1st to 9th - Processed on the 20th
  • Requests submitted from the 10th to 19th - Processed at the end of the month
  • Requests submitted from the 20th to the end of the month - Processed on the 10th of the following month
• If a processing date falls on a weekend, it shifts to the next business day.
• You must have 0.0002 - 0.001 BNB (~$0.02- 0.1) to cover the gas fees for withdrawing.
• You will receive SolvBTC in this step. To convert it back to BTCB, please follow step 3 and visit the Solv’s dApp to withdraw.

Step 2: Claim SolvBTC from Solv BTC+ Pool

1. To claim SolvBTC from Solv BTC+ Pool, under the Simple Yield section, select [Go claim] - [Claim] under the Solv BTC+ section, [Claim] - [Confirm]. 

2. Once the transaction has been completed, a ‘Redemption claimed successfully’ page will be shown and the SolvBTC will be returned to your Binance Wallet. 

Step 3: Withdraw BTCB from SolvBTC

1. To withdraw BTCB from SolvBTC, go to Solv’s dApp, select [Connect Wallet] and select [BNB Chain]. Select [Binance Wallet] and tick the terms and conditions. 

Enter the amount of SolvBTC you would like to withdraw and select [Withdraw] and confirm the transaction. 

2. Once the transaction has been submitted, a “Submitted Successfully” page will be displayed. 

3. After 7 days, you may go to the portfolio section of your wallet to claim your BTCB. Select [Claim] - [Confirm] - [Confirm] to claim the BTCB.

4. Once the transaction has been completed, a Claimed Successfully page will be shown and the BTCB will be returned to your Binance Wallet.

Please note:

• The claims are processed immediately.
• You must have 0.0008 - 0.002 BNB (~$0.08 - 0.2) to cover the gas fees for withdrawing.

There are two methods of redemption from BounceBit, all redemptions require up to 8 days processing time.

You can choose early redemption through BounceBit’s DApp to redeem your asset during the 7-day lock-up period, or normal redemption through Binance Wallet after the 7-day lock-up period. 

Method 1: Normal Redemption

Please note: There is a 7-day lock-up period before you can redeem your asset.

1. Log into your Binance Wallet and go to [Earn] - [Simple Yield] - [BNB DeFi Festival] - [USDT (Bouncebit)].

2. Select [Redeem], enter the amount of USDT to withdraw and tap [Next] - [Next] - [Confirm].

3. Once the withdrawal has been processed, a ‘Redemption Successful’ page will be shown and USDT will be returned to your Binance Wallet after 8 days. 

4. Once the redemption request is completed, you can check your redemption details by selecting the ‘History’ area to view more redemption details.

Method 2: Early Redemption

Please note: You won’t receive any profits from your deposit and the early redemption will charge a 0.1% principal fee of your deposited assets. 

1. Go to  BounceBit’s DApp. Select the wallet icon and connect to the BNB Smart Chain.

2. Connect your Binance Wallet, select [Unstake], enter the amount of USDT you would like to unstake and select [Unstake request] - [Confirm].

Please note: You must have 0.0002 - 0.001 BNB (~$0.02 - 0.1) to cover the gas fees for the unstaking.

3. Once the transaction has been completed, a ‘Transaction Success’ page will be shown. The redemption will take up to 8 days to be processed, and you will be able to claim back USDT after redemption is completed.

Please note:

• You must have 0.0002 - 0.001 BNB (~$0.02 - 0.1) to cover the gas fees for withdrawing.
• Redemptions of the Earn Simple Yield BounceBit USDT pool via Binance Wallet will take up to 8 days to be processed.
• The redemption processing details (UTC+8):
  • Redemption requests submitted between Thursday 12:00 noon (UTC+8) in week 1 and Monday 12:00 (UTC+8) in week 2 will be processed by Friday 24:00  (UTC+8) in week 2.
  • Redemption requests submitted between Monday 12:00 noon (UTC+8)  and Thursday 12:00 noon (UTC+8) in week 1 will be processed by Tuesday 24:00 (UTC+8)  in week 2.

1. To claim USDT from BounceBit Pool, under the Simple Yield section, select [Go claim] - [Claim] under the BounceBit section. Go to [Claim] - [Confirm]. 

Please note: Prepare 0.0002 - 0.001 BNB (~$0.02 - 0.1) to cover the gas fees for withdrawing.

2. Once the transaction has been completed, a ‘Redemption claimed successfully’ page will be shown and the USDT will be returned to your Binance Wallet.