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Binance Pool Launches 27th Phase of Dual Savings Products
Binance
2021-01-27 04:16
Fellow Binancians,
Binance Pool will launch the 27th phase of Dual Savings products on 2021-01-27 (UTC).
  • Subscription Format: First-come, first-served basis.
  • Subscription Period: 2021-01-27 4:00 AM - 2021-01-28 4:00 AM (UTC)
Dual Savings Product Details (Subscribe now)
Digital Asset
Days
Annualized Interest Rate
Ref. Strike Price (USD)
Limit
Delivery Date
BTC
8 Days
146%
$33,000
30 BTC
2021-02-05
BTC
15 Days
100%
$34,000
30 BTC
2021-02-12
BTC
29 Days
12%
$45,000
40 BTC
2021-02-26
BTC
15 Days
6%
$45,000
20 BTC
2021-02-12
USDT
8 Days
138%
$31,000
1,000,000 USDT
2021-02-05
USDT
15 Days
111%
$31,000
1,000,000 USDT
2021-02-12
USDT
15 Days
88%
$30,000
800,000 USDT
2021-02-12
BUSD
8 Days
138%
$31,000
1,000,000 BUSD
2021-02-05
BUSD
15 Days
111%
$31,000
1,000,000 BUSD
2021-02-12
BUSD
15 Days
88%
$30,000
800,000 BUSD
2021-02-12
Example: A user buys a share of a Dual Savings product worth 1 BTC (the Strike price is $X and the Annualized interest rate return is Y%). When the product expires on the delivery date:
  • If the BTC settlement price ≥ the strike price, then the user's settlement currency will be BUSD. The user will receive 1 * X * (1 + Y% / 365 * Deposit days) BUSD.
  • If the BTC settlement price is < the strike price, then the user's settlement currency will be BTC. The user will receive 1 * (1 + Y% / 365 * Deposit days) BTC.
Note:
  • The actual strike price of the contract may not reflect the Ref. Strike price in the initial announcement. The actual strike price will be adjusted according to the spot price changes in the 24 hours after the initial offer period. The referred spot price is $32,000.
  • Users can view their Dual Savings assets by going to Pool > Dual Savings > Order record icon in the upper right corner.
  • The calculation method of the settlement price is based on an index of BTC prices across seven different exchanges: Bitstamp, Bittrex, Coinbase Pro, Gemini, Kraken, Itbit, and LMAX Digital. During settlement, the highest and lowest prices from these exchanges will be removed from consideration, and the average price from the remaining five exchanges will be used as the final settlement price. The settlement time is 8:00 AM (UTC) on the day the product expires.
  • Delivery Date: Refers to the date the investment product ends. On this date, the funds you allotted for a Dual Savings product will be automatically returned to your Spot wallet, including the interest.
  • Settlement Currency: Refers to the payment currency, which is determined based on the maximum principal return on the delivery date. The specific settlement currency depends on the difference between the settlement price and the pegged price on the delivery date.
  • Account Time: the funds generally arrive in the spot account within 48 hours when the Dual Saving products expire.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2021-01-27
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