This is a general announcement. The products and services described herein may not be available in your region.

Dear Binance Community Members,

In honor of the recently updated Binance lending service (with flexible rates), we are launching a new promotion for service users. Eligible users who redeem existing old Binance Loan (Flexible Rate) orders and place new Binance Loan (Flexible Rate) orders during the Promotion Period will be eligible to win a prize pool of 20 iPhone 15s and 4,000 FDUSD.

Promotion period: from 04/12/2024 15:00 to 04/20/2024 02:59 (Moscow time).

Users who complete the following two tasks during the promotion will be able to participate:

  • pay a total of at least $1,000 (equivalent) towards any outstanding old Binance loan order(s) (with flexible rates) and

  • place a new order(s) for a Binance loan (with flexible rates) for a total amount of at least $500 (equivalent).

Based on users' total payout of any outstanding old Binance Loan (Flexible Rate) orders and the total loan amount of any new Binance Loan (Flexible Rate) orders during the promotion, eligible participants will be eligible for a Tier 1 or Tier 2 based on the time they become eligible for the corresponding Tier as outlined in the table below.

Remuneration structure:

Level

Level criteria

Selection of winners and their awards

Total Outstanding Old Order Payouts for Binance Loans (Flexible Rates)

Total amount borrowed in new orders for Binance loans (with flexible rates)

1

≥ $10,000 (equivalent)

≥ $5,000 (equivalent)

The first 20 users to qualify for a Tier 1 reward will each win an iPhone 15 (128GB). The prize will be received in the form of a voucher for FDUSD tokens.

2

$1,000 (equivalent) ≤ amount < $10,000 (equivalent)

≥ $500 (equivalent)

The first 100 users to qualify for the Tier 2 reward will win a 40 FDUSD voucher.

Apply for a loan with a flexible rate on Binance

Binance Loans (with flexible rates)

Binance Loans (Flexible Rate) is an open-ended lending product that allows you to place loan orders using cryptocurrency in your existing Simple Earn flexible product subscriptions as collateral. Users can expand their options without being limited by a specific term when borrowing cryptocurrencies on Binance (with flexible rates). At the same time, they will be able to earn APR rewards in real time through Simple Earn's flexible products. Loan rates are updated every minute, and users can place a loan order with a minimum amount equivalent to 1 USDT.

Additional Information

Terms and conditions

  • To place a new Binance Borrow (Flexible Rate) order through the Binance App, update to v2.78.0 for iOS or Android or later. Older versions of the app no ​​longer support placing new orders for Binance loans (with flexible rates).

  • Binance will close all outstanding old orders for Binance Loans (Flexible Rates) in the Flexible Rates (Old) section on 04/24/2024 at 06:00 AM (UTC) and will not charge the corresponding liquidation fee. We strongly recommend that you clear all outstanding orders for loans with flexible rates in the “Flexible rates (old)” section, if any, before 04/24/2024 06:00 (Moscow time) to avoid possible losses.

  • The recent update to Binance's flexible lending service will not affect orders for VIP loans with flexible and fixed terms. Check out this announcement for more information.

  • Reward distribution

    • Binance will target the iPhone 15 (128GB) retail price of $799 listed on the Apple US website on 04/10/2024. Eligible users will be rewarded with a 799 FDUSD voucher. The reward does not include taxes, shipping costs or any other additional payments.

    • Rewards in the form of token vouchers will be distributed within three weeks after the end of the promotion. You can log in and redeem token prize vouchers in the “Profile > Bonus Center” section.

    • All distributed vouchers will expire within 30 days of distribution. Users must claim their vouchers before they expire. Learn how to activate a token voucher.

  • Binance reserves the right to disqualify any participants it reasonably determines to be fraudulent or in violation of applicable terms and conditions.

  • Binance reserves the right to cancel or modify the promotion and its rules at its sole discretion.

  • Additional terms and conditions of the promotion are available here.

  • There may be discrepancies between the translation and the original English article. To obtain current and accurate information in this case, read the original version of the announcement.

Thanks for support!

Binance command

12.04.2024