Binance Launches Third Phase of Binance Lending Products

2019-09-09 09:22

Fellow Binancians,

Binance will launch the third phase of Binance Lending Products at 2019/09/11 6:00 AM (UTC), where 14-day fixed term lending products will be made available. Further details are below:

Subscription Format: First-come-first-served basis.
Subscription Period: From 2019/09/11 6:00 AM (UTC) to 2019/09/12 0:00 AM (UTC).
Interest Calculation Period: 2019/09/11 6:00 AM (UTC) to 2019/09/25 6:00 AM (UTC).
Interest Payout Time: Immediately after loan term matures.

Lending Product Details (Subscribe now)

Digital Asset	Term to Maturity	Total Subscription Cap	Individual Cap	Annualized Interest Rate	Lot Size	Interest Per Lot at Maturity
BNB	14 days	200,000 BNB	500 BNB	10%	10 BNB	0.038356 BNB
ETC	14 days	30,000 ETC	1,500 ETC	7%	1 ETC	0.002684 ETC
LTC	14 days	6000 LTC	300 LTC	7%	1 LTC	0.002684 LTC
XRP	14 days	1,000,000 XRP	50,000 XRP	7%	100 XRP	0.268493 XRP
USDC	14 days	2,000,000 USDC	500,000 USDC	7%	100 USDC	0.268493 USDC
USDT	14 days	20,000,000 USDT	5,000,000 USDT	10%	100 USDT	0.383561 USDT

Example:

If User A subscribes to 10 lots of BNB (14 days) Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.038356 BNB * 10 = 0.38356 BNB.

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.
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.

Thanks for your support!

Binance Team

2019/09/09

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