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Binance Loans Adds Borrowable Asset CAKE and Launches Interest Rate Reduction Promotion

2022-06-27 02:01
Fellow Binancians,
Binance has added CAKE as a borrowable asset on the Binance Loans platform, and launched a promotion to reduce interest rates for all cryptocurrencies on the platform, such as BTC, BUSD and ETH.
Interest Rate Reduction Promotion
Promotion Period: 2022-06-27 11:00 AM (UTC) to 2022-07-27 11:00 AM (UTC)
Please refer to the Loan Data page for more details on the adjusted interest rates during the promotion. For example, the discounted interest rates for borrowing BUSD on the Binance Loans platform during the promotion period are as follows:
VIP Level
Previous Int. Rate
New Tiered Int. Rate
Regular User
Hourly Int. Rate: 0.001%
Daily Int. Rate: 0.025%
Hourly Int. Rate: 0.000420%
Daily Int. Rate: 0.0101%
VIP 1
Hourly Int. Rate: 0.001%
Daily Int. Rate: 0.0238%
Hourly Int. Rate: 0.000399%
Daily Int. Rate: 0.0096%
VIP 2
Hourly Int. Rate: 0.0009%
Daily Int. Rate: 0.0225%
Hourly Int. Rate: 0.000378%
Daily Int. Rate: 0.0091%
VIP 3
Hourly Int. Rate: 0.0009%
Daily Int. Rate: 0.0213%
Hourly Int. Rate: 0.000357%
Daily Int. Rate: 0.0086%
VIP 4
Hourly Int. Rate: 0.0008%
Daily Int. Rate: 0.0200%
Hourly Int. Rate: 0.000336%
Daily Int. Rate: 0.0081%
VIP 5
Hourly Int. Rate: 0.0008%
Daily Int. Rate: 0.0188%
Hourly Int. Rate: 0.000315%
Daily Int. Rate: 0.0076%
VIP 6
Hourly Int. Rate: 0.0007%
Daily Int. Rate: 0.0175%
Hourly Int. Rate: 0.000294%
Daily Int. Rate: 0.0071%
VIP 7
Hourly Int. Rate: 0.0007%
Daily Int. Rate: 0.0163%
Hourly Int. Rate: 0.000273%
Daily Int. Rate: 0.0066%
VIP 8
Hourly Int. Rate: 0.0006%
Daily Int. Rate: 0.0150%
Hourly Int. Rate: 0.000252%
Daily Int. Rate: 0.0060%
VIP 9
Hourly Int. Rate: 0.0006%
Daily Int. Rate: 0.0138%
Hourly Int. Rate: 0.000231%
Daily Int. Rate: 0.0055%
Binance Loans provides a large range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits based on market conditions and internal risk management. Binance reserves the right in its sole discretion to amend or change the interest rates without prior notice.
If you are not yet familiar with Binance Loans, here are some useful resources for you to get started:
Thanks for your support!
Binance Team
2022-06-27
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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.
Note: This announcement was last updated on 2022-06-28 to update the discounted interest rates for borrowing BUSD on the Binance Loans platform during the promotion period.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.