Binance Offers 19.9% APR on FDUSD Locked Products in Limited-Time Promotion
Timothy Morano Aug 13, 2024 05:15
Binance launches a promotion offering 19.9% APR on FDUSD Locked Products, available from August 12 to August 22, 2024, on a first-come, first-served basis.
Binance has announced a limited-time promotion for FDUSD Locked Products, offering a fixed annual percentage rate (APR) of 19.9%. The promotion is set to run from August 12, 2024, to August 22, 2024, and is available on a first-come, first-served basis, according to Binance.
Promotion Details
The FDUSD Locked Product promotion allows users to earn a fixed APR of 19.9% by subscribing to a 10-day locked term. The principal amount is protected, ensuring that users will receive their initial investment back upon redemption or at the end of the locking period. Rewards will be distributed daily to users' Spot Wallets.
Mechanism on FDUSD Locked Products
- Subscription Format: Limited on a first-come, first-served basis with a fixed duration of 10 days.
- APR: The fixed rate remains consistent throughout the Locked Simple Earn Term. Any changes to the APR will apply only to new subscriptions.
- Principal Protected: Users will get back their principal upon redemption or at the end of the locking period.
- Reward Calculation Period: From 00:00 (UTC) the day after subscribing to the Locked Products, until the end of the subscription period.
- Rewards Distribution: Rewards are distributed to the Spot Wallet on a daily basis.
- Early Redemption: Users can redeem locked assets early, but all rewards received will be forfeited. The full balance, minus any rewards distributed during the term, will be returned within 48-72 hours.
Getting Started with FDUSD Locked Products
- Visit the Simple Earn page and search for FDUSD.
- Select the 10-day term and subscribe to start earning 19.9% APR.
About Binance Simple Earn
Binance Simple Earn allows users to earn daily rewards by depositing their digital assets for flexible or locked terms. Users can subscribe to or redeem assets from Simple Earn almost anytime, providing flexibility and liquidity while earning daily rewards.
Important Notes
- The promotion is available only to users who can access Binance Simple Earn Products. It may be restricted in certain jurisdictions or regions based on legal and regulatory requirements.
- Binance reserves the right to adjust APRs at any time without prior notice. Users should refer to the Binance Simple Earn Terms & Conditions and Risk Warning prior to using any products.
- At the end of the agreed subscription period, Binance Simple Earn will redeem the digital assets locked in Simple Earn Locked Products to Simple Earn Flexible Products.
- Users can view their Locked Products subscriptions through Wallets > Earn > Simple Earn > Locked.
- APR rewards are distributed from Binance’s own funds and are determined based on the assessment of prevailing market conditions. The promotion is not associated with the issuer of FDUSD.
- A high volume of redemption requests might temporarily delay redemptions. Redemptions will resume upon the return of liquidity.
Binance encourages users to review the Locked Products FAQ for more information.
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