This is a general announcement and marketing communication. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance is pleased to introduce a new promotion for Binance Loans (Flexible Rates) users who form teams and borrow USDT, FDUSD or USDC. Eligible teams who complete the campaign requirements can receive USDC rewards that cover up to 7 days of the borrowing interests.
Promotion Period: 2024-11-06 04:00 (UTC) to 2024-12-13 03:59 (UTC)
How to Participate
During the Promotion Period, the first 200 eligible teams who complete all of the following campaign requirements will be eligible for rewards. Both the inviter and invitee from each team will receive a reward that covers up to 7 days of the borrowing interests in USDC Rewards.
Eligible teams will be ranked according to the time the invitee places the loan order during the Promotion Period. Rewards are calculated based on the total interests of the participants’ eligible Binance Loans (Flexible Rates) during the Promotion Period.
Campaign Requirements:
Place one new Binance Loans (Flexible Rates) order of at least $5,000 equivalent in USDT, FDUSD or USDC, and borrow for 25 days consecutively.
Invite a new or existing Binance user to successfully place one new Binance Loans (Flexible Rates) order of at least $5,000 equivalent in USDT, FDUSD or USDC and borrow for 25 days consecutively.
To successfully form a team, the invitee has to enter their inviter’s Referral ID in the survey before the end of the Promotion Period.
Note: To qualify for the full 7 Days interest-free equivalent USDC rewards, both the inviter and invitee have to place orders during 2024-11-06 04:00 (UTC) to 2024-11-18 03:59 (UTC).
Binance Loans (Flexible Rates) Offered Plans
Reward Calculation
To illustrate the reward calculation, we will use the following case study.
User A (the inviter) invites user B (the invitee) to join the campaign. During the Promotion Period, user A places a new Loan order of 10,000 USDC and user B borrowed 5,000 USDC. Both user A and user B hold the Loan positions for 25 Days. User B then fills in the Referral ID of user A in the survey to indicate that user A and user B have successfully teamed up.
Rewards for user A:
Total estimated total loan interest (assuming average interest rate is 9%): 10,000 * 9% * (25/365) = 61 USDC
Campaign rewards: 61 * (7/25) = 17 USDC
Rewards for user B:
Total estimated total loan interest (assuming average interest rate is 9%): 5,000 * 9% * (25/365) = 30 USDC
Campaign rewards: 30 * (7/25) = 8 USDC
Notes:
Invitees should fill out the survey to sign up for the promotion for the team.
Each user can only join one team. Users on the same team may borrow different tokens.
A borrowing duration of 24 hours is counted as one day.
Rewards:
The rewards will be calculated based on the total interest of the total eligible borrowed amount during the Promotion Period * (7/25), rounding down to the nearest whole number.
Rewards will be distributed in USDC and will be distributed to eligible users' Spot Wallets within three (3) weeks after the campaign ends.
Please refer to Loan Data for the latest interest rates and a complete list of loanable and collateral assets.
Visit the Flexible Loan and Simple Earn Flexible Products FAQs to learn more. Users who are interested in VIP Loan may also get in touch with the Binance VIP Key Account Coverage team via Telegram (@vip_loan_binance) for more information.
Terms & Conditions:
Only users who have completed identity verification may qualify for rewards.
The Promotion is only available to users who are enabled to use Binance Loans (Flexible Rates), and may not be available or may be restricted in certain jurisdictions or regions, or to certain users, depending on legal and regulatory requirements.
Terms and Conditions for Binance Flexible Loan and Simple Earn apply.
Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.
Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.
Additional promotion terms and conditions can be accessed here.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-11-06
Disclaimer: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com.
Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices can be volatile. The value of your investment may 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. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.
