Introducing Simple Earn: The Evolution of Binance Savings & Binance Staking
As of 2022-09-22 07:00 (UTC), Binance Savings and Binance Staking have merged to become “Binance Simple Earn”. Products on Flexible Savings will be rebranded as Flexible Products on Binance Simple Earn, while Locked Savings and Locked Staking products will be rebranded as Locked Products.
- Users with existing positions on Flexible Savings may now view and manage their positions via Wallet > Earn > Simple Earn > Flexible.
- For those with existing positions on Locked Savings, they may view and manage their positions via Wallet > Earn > Simple Earn > Locked Savings.
- Subscriptions will be automatically redeemed upon the redemption date, and digital assets/currencies will be transferred to the user’s Spot wallet or Flexible Products, depending on whether the user has enabled the “Auto-Renew” option.
- Binance will remove the Locked Savings option from Earn wallets once all the current positions on Locked Savings expire.
- As for users with existing positions on Locked Staking, they may view and manage their positions via Wallet > Earn > Simple Earn > Locked. Digital assets/currencies will be automatically credited to the user’s Spot wallet upon the redemption date.
Please rest assured that all users’ assets are secure with Binance Simple Earn, and there will be no changes to your existing positions. The rewards calculation and distribution mechanism for Flexible Products and Locked Products in Binance Simple Earn will remain unchanged from that in Binance Savings and Binance Staking.
About Binance Simple Earn:
Binance Simple Earn allows users to earn daily rewards by completing new subscriptions to Flexible Products or Locked Products. Users may subscribe and redeem their digital assets/currencies from Flexible Products at any time. This provides users with flexibility and liquidity over their assets while earning daily rewards.
Alternatively, subscriptions to Locked Products will provide higher rewards as users will be required to lock in their assets for a defined period of time. Users may still redeem their digital assets/currencies any time before the redemption date, and any distributed rewards will be deducted from staked digital assets. It may take 48-72 hours to receive the digital assets.
For More Information:
- Introduction to Binance Simple Earn
- Binance Simple Earn Terms & Conditions
- Get Started with Binance Simple Earn Flexible Products
- Get Started with Binance Simple Earn Locked Products
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.