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Binance Pool Launches 12th Phase of Dual Savings Products
Binance
2020-10-14 04:14
Fellow Binancians,
Binance Pool will launch the 12th phase of Dual Savings products on 2020/10/14 (UTC).
  • Subscription Format: First-come, first-served basis.
  • Subscription Period: 2020/10/14 4:00 AM - 2020/10/15 4:00 AM (UTC)
Dual Savings Product Details (Subscribe now)
Digital Asset
Annualized Interest Rate
Strike Price (USD)
Limit
Delivery Date
BTC
30%
$11,750
50 BTC
2020/10/23
BTC
25%
$12,000
150 BTC
2020/10/30
BTC
28%
$12,250
150 BTC
2020/11/13
USDT
35%
$11,250
500,000 USDT
2020/10/23
USDT
20%
$11,000
1,000,000 USDT
2020/10/30
USDT
25%
$10,750
500,000 USDT
2020/11/13
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:
  • 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.
Risk Warning: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any direct, indirect or consequential losses. Please make your investments with caution.
Thanks for your support!
Binance Team
2020/10/14
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