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Get Started with Binance Simple Earn Flexible Products

2022-09-22 06:30
You can subscribe to and redeem Binance Simple Earn Flexible Products at any time from the new Simple Earn platform. It lets you retain flexibility and liquidity over your assets while earning daily rewards.

Subscription and Redemption

Subscriptions and redemptions for Simple Earn products are open daily between 00:10 to 23:50 (UTC+0). Subscriptions are immediate, your assets will be transferred from your Spot Wallet into the product of your choice upon confirmation.
Flexible Products can be redeemed fully or partially through Fast Redemption or Standard Redemption:
  • Fast Redemption
Your assets will be returned to your Spot Wallet immediately. You will not receive rewards for that day.
  • Standard Redemption
Your assets will be returned to your Spot Wallet the following day between 00:00 and 08:00 (UTC+0), along with rewards accrued on the last day. Your redemption might be delayed due to the complexity of the interest distribution process, extreme market volatility, network issues, or when there is an unusually large number of redemption requests, etc.

What is Auto-Subscribe and how does it work?

The Auto-Subscribe function helps you automatically subscribe to Simple Earn products using assets from your Spot Wallet. This is a great way to compound your daily rewards to fully benefit from Simple Earn.
You can enable Auto-Subscribe for Flexible Products from the Simple Earn homepage, on the subscription pop-up, or from your Earn Wallet. Simply toggle on the [Auto-Subscribe] button next to the product to enable the function.
Please note:
  • Once Auto-Subscribe is enabled for an eligible Flexible Product, any balance of that token in your Spot Wallet will be automatically transferred into the corresponding Flexible Product at 02:00 and 16:00 (UTC+0) daily.
  • You can disable the Auto-Subscribe feature from your Earn Wallet or the Simple Earn homepage to stop any subsequent subscription.

How to subscribe to Simple Earn Flexible Products?

1. Log in to your Binance account and go to [Earn] - [Simple Earn].
2. Find the token you’d like to subscribe to using the search box or by clicking [Expand all Simple Earn Products].
Click [Flexible] next to the coin and click [Subscribe].
3. You will see a subscription pop-up. Select [Flexible] and enter the subscription amount. You can also enable the [Auto-Subscribe] function here. Check the subscription summary on the right and click [Confirm] to subscribe.
  • Duration (Days): Choose between flexible term and specific subscription days
  • Subscription Amount: The amount of tokens you want to subscribe with
  • Amount limits
    • Minimum: The minimum amount of tokens you need to subscribe
    • Available quota: The maximum amount of tokens you can subscribe to this product, taking into account your existing subscriptions
  • Subscription Date: The date and time of subscription
  • Value Date: The date and time your assets will start to accrue rewards
  • Distribution Date: The date and time you start receiving daily rewards
  • Est. APR: The estimated APR, subject to change
  • Tier APRs (if applicable): The applicable APR for different tiers of subscribed amounts
  • Est. Interest: The estimated daily rewards, subject to change
4. A confirmation message will appear with details of your subscription. Your assets are now transferred from your Spot Wallet into the Simple Earn Locked Product you have selected. You can click [View Holding] to manage your subscriptions in the Earn Wallet.

How to redeem your Flexible Products?

1. Log in to your Binance account and go to [Earn] - [Simple Earn]. Click [Wallet] to access your Earn Wallet. Here you can manage your subscriptions, redemptions, and enable/disable the Auto-Subscribe function.
2. Click [Redeem] next to the asset you wish to redeem.
3. You will see a redemption pop-up. Enter your redemption amount and select the redemption method. Click [Confirm].
4. A confirmation message will appear with the details of your redemption. You will see an estimated time for your assets to be returned to your Spot Wallet.

How to view my Flexible Product transaction history?

Log in to your Binance account and go to [Earn] - [Simple Earn]. Click [History].
Go to the [Flexible] tab. You can filter your transaction history by token type, activity type (such as subscription, redemption, and rewards), and dates. Click [Search].
For more information about Simple Earn, please refer to: