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Binance Will Launch Lending Platform: 14-Day Fixed Term USDT, BNB and ETC Lending Products Available for Subscription

Binance Will Launch Lending Platform: 14-Day Fixed Term USDT, BNB and ETC Lending Products Available for Subscription

2019-08-26 00:28

Fellow Binancians,

Binance will launch our Lending Platform at 2019/08/28 6:00 AM (UTC), as a value-added service to Binance users who hold idle digital assets.

About Binance Lending

With Lending, Binance users will be able to grow their funds by earning interest income for lending out their holdings over a specific period of time.  

In the first phase of the Lending launch, 14-day fixed term BNB, USDT and ETC lending products will be made available, with further details below: 

  • Annualized Interest Rates: BNB (15%), USDT (10%), ETC (7%).
  • Subscription Period: From 2019/08/28 6:00 AM (UTC) to 2019/08/29 0:00 AM (UTC).
  • Term to Maturity: 14 days.
  • Interest Calculation Period: From 2019/08/29 0:00 AM (UTC) to 2019/09/10 23:59 PM (UTC).
  • Interest Payout Time: Immediately after loan term matures. 
  • Subscription Format: First-come-first-served basis.

Lending Table (Subscribe now)

Digital Asset

Total Subscription Cap

Individual Cap

Annualized Interest Rate

Lot Size

Interest Per Lot at Maturity

BNB

200,000 BNB

500 BNB

15%

10 BNB

0.057534 BNB

USDT

10,000,000 USDT

1,000,000 USDT 

10%

100 USDT

0.383561 USDT

ETC

20,000 ETC

1,000 ETC

7%

1 ETC

0.002685 ETC

 

Example:

If User A subscribes to 10 lots of BNB Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.057534 BNB x 10 = 0.57534 BNB.

More Information:

  • The annualized interest rates for upcoming phases will be adjusted based on market reception of this initial phase. Please refer to future announcements for interest rate updates;
  • Stay tuned for more Binance Lending products that will be released soon;
  • Refer here for the Binance Lending User Guide;
  • Please refer to Binance Terms of Use prior to using any products on the Binance Lending platform.

Note:

BNB balances committed into Lending products will be included in each user’s daily BNB balance calculations for Binance Launchpad and other daily calculations as mentioned in the Daily BNB Balance Calculation Mechanism Update.

Thanks for your support!

Binance Team

2019/08/26

 

Find us on 

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