This is a general notice. Products and services mentioned here may not be available in your area.
Dear Binance Community,
Binance NFT is pleased to announce that users will be able to use Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs staked in the NFT Ape Staking Program as collateral on NFT Lending, effective effective from 20:00 June 21, 2023 (Vietnam Time).
Binance NFT users can enjoy better flexibility, they can now stake existing BAYC and MAYC NFTs as collateral on NFT Lending via the Ape NFT Staking Program to earn ApeCoin daily rewards ( APE), or access higher liquidity by completing an NFT Lending order with a staked BAYC NFT or MAYC NFT.
For more information about NFT Lending, such as liquidation, interest rates, borrowing and repayment, please refer to the FAQ. You can also find detailed information about the Ape NFT Staking Program on this FAQ page.
Program: Receive an exclusive NFT from the Mocaverse NFT Collection or Block Legends after completing an NFT Lending order
Program time: 20:00 June 21, 2023 (Vietnam Time) to 06:59 July 5, 2023 (Vietnam Time)
Snapshot time: Daily
To celebrate the above update, Binance NFT will launch a new incentive program for all NFT Lending users. A total of ten users with an average daily debt equivalent to a minimum of 4 ETH on NFT Lending during the program period will be selected based on the BNB Beacon Chain Hash Value-based Prize Selection Rules for each person to receive a Mocaverse NFT or Block Legends NFT.
Please note that users can continue to enjoy a 70% discount on loan interest rates at NFT Lending (i.e. 3.36%) until 06:59 on July 5, 2023 (Vietnam Time). From 07:00 July 5, 2023 (Vietnam Time), all users can still enjoy a 20% loan interest discount at NFT Lending (i.e. 8.96%) until further notice new.
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Terms and condition:
Users must complete identity verification to use Binance NFT Lending and participate in the Ape NFT Staking Program. Users who have not completed identity verification, account holders with illegal bulk registrations, and users from restricted countries/regions are not allowed to use these services. For more information, please refer to Binance Terms of Use, Binance NFT Market Terms and Conditions, and Binance NFT Staking Terms.
APE daily rewards will be automatically distributed to the user's Spot wallet between 07:00 and 15:00 (UTC) on the third day after the user submits their Ape NFT staking request Surname.
APR is adjusted daily and estimated earnings may differ from actual earnings generated. The specific APR will depend on the number displayed on Binance daily.
NFT rewards from the Program will be automatically allocated to users' accounts within two weeks after the Program ends. Users can find their NFTs via the Binance NFT Marketplace > My NFTs > Collected.
Binance will immediately disqualify any user who shows signs of fraud.
In case of any discrepancy between the translation and the original English version, the English version shall prevail.
Thanks for your support!
Binance team
21/06/2023
