Binance Announces Promotion for Fixed Rate Loans with Prizes Up to 799 USDC

Binance has launched a brand new promotion to have fun the introduction of its Mounted Fee Loans, in keeping with an official announcement. The promotion gives debtors and suppliers with enhanced liquidity choices and the chance to win as much as 799 USDC in token vouchers.

Promotion Interval: 2024-09-19 05:00 (UTC) to 2024-10-11 23:59 (UTC).

Promotion Particulars

Through the promotion interval, customers who borrow not less than a complete of $200,000 equal on Mounted Fee Loans will probably be ranked by their complete borrow quantity in USD Equal. The highest ten eligible individuals will every obtain 799 USDC token vouchers. Eligible borrow orders embody borrowing from current provide orders or inserting a borrow order that will get matched.

Equally, customers who full not less than one provide order on Mounted Fee Loans will probably be ranked by their complete provide quantity in USD Equal. The highest 30 eligible individuals will every obtain 100 USDC token vouchers. Eligible provide orders embody supplying to current borrow orders or inserting a brand new provide order that will get matched.

How Binance Mounted Fee Loans Work

To Borrow on Mounted Fee Loans:

1. Place an Order: Click on [Place an order] – [I want to Borrow] to arrange borrow data or click on [Borrow] subsequent to a most well-liked order beneath “Borrow Market”.
2. Arrange Collateral: Choose eligible property from the Spot Pockets as collateral to fulfill the Preliminary LTV (Mortgage-to-Worth) requirement.
3. Verify Order: Evaluate and ensure the order particulars and the Phrases & Circumstances, then click on [Confirm].
4. Order Matched: As soon as the order is matched, the borrowed funds minus the pre-calculated pursuits will probably be transferred to the Spot Pockets. Examine the order standing in [My Order] – [Ongoing Order].
5. Reimbursement: Repay the mortgage in full earlier than the expiry date to keep away from the Late Charge.

To Provide on Mounted Fee Loans:

1. Place an Order: Click on [Place an order] – [I want to Supply] to arrange provide data or click on [Supply] subsequent to a most well-liked order beneath Provide Market.
2. Verify Order: Evaluate and ensure the order particulars and the Phrases & Circumstances, then click on [Confirm].
3. Order Matched: As soon as the order is matched, the equipped funds will probably be transferred from the Spot Pockets and will probably be principal-protected by Binance during the order. Return Curiosity begins accruing on matching. Examine the order standing in [My Order] – [Ongoing Order].
4. Reimbursement: After the mortgage expires, the loaned property and Return Curiosity will probably be delivered to the Spot Pockets inside 24 hours following the expiry date. Examine the property within the Spot Pockets.

Further Data

Eligible customers will obtain USDC token vouchers inside three weeks after the marketing campaign ends. Customers can log in and redeem their token voucher rewards by way of Profile > Rewards Hub. All distributed token vouchers will expire inside 30 days after distribution, so eligible customers ought to declare their voucher rewards earlier than the expiration date. Every person can obtain a most of 1 reward from these promotions, and every sub-account is not going to be considered as an impartial account when collaborating on this promotion.

USDC is an e-money token issued by Circle Web Monetary Europe SAS. Holders of USDC have a authorized declare towards Circle SAS and may request redemption of their USDC from Circle SAS at any time and at par worth.

For extra particulars on how Binance Mounted Fee Loans work, customers are inspired to seek advice from the Mounted Fee Loans FAQ, Versatile Loans FAQ, and VIP Mortgage FAQ.

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