Binance Launches Limited-Time FDUSD Locked Products with 15.9% Fixed APR
Rongchai Wang Sep 24, 2024 16:50
Binance introduces a limited-time promotion for FDUSD Locked Products, offering a 15.9% fixed APR for eligible users. The promotion runs from September 25 to October 8, 2024.
Binance, one of the leading cryptocurrency exchanges, has announced a new promotional offer for its Simple Earn users. According to Binance, the FDUSD Fixed Rate Locked Products will be available with a fixed annual percentage rate (APR) of 15.9%.
Promotion Period and Details
The promotion will run from September 25, 2024, at 00:00 UTC to October 8, 2024, at 23:59 UTC. Eligible users who complete subscriptions to the FDUSD Fixed Rate Locked Products during this period can take advantage of the 15.9% APR.
Mechanism on FDUSD Locked Products
The subscription format for FDUSD Locked Products is on a first-come, first-served basis with a fixed duration of 14 days. The fixed APR will remain constant throughout the entire Locked Simple Earn term. Any changes to the APR will only apply to new subscriptions, not existing ones.
- Principal Protected: Users will receive their principal back upon redemption or at the end of the locking period.
- Reward Calculation Period: From 00:00 UTC the day after subscription until the end of the subscription period.
- Rewards Distribution: Rewards are distributed to the Spot Wallet on a daily basis.
- Early Redemption: Users may redeem locked assets early, but all rewards received will be forfeited. The full balance of the locked assets, minus any rewards distributed during the term, will be returned to users' Spot Wallets within 72 hours. In exceptional circumstances, this return may be delayed further.
How to Get Started with FDUSD Locked Products
- Buy FDUSD on the Spot market or the 'Buy Crypto' page, which supports payment methods including Visa, Mastercard, Apple Pay, Google Pay, and wallet balances. Users can also deposit FDUSD to their Binance account.
- Navigate to [Simple Earn] and search for FDUSD.
- Select 14 Days and subscribe to FDUSD Locked Products to start earning the 15.9% 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 at any time, retaining great flexibility and liquidity while earning daily rewards.
Important Considerations
- The promotion is only available to users who can access Binance Simple Earn Products and may be restricted in certain jurisdictions or regions based on legal and regulatory requirements.
- Changes to the Simple Earn Rewards Rate will be published on the platform from time to time. Users should refer to Binance Simple Earn Terms & Conditions and Risk Warning for more information before using Simple Earn.
- Binance Simple Earn will redeem the digital assets locked in Simple Earn Locked Products subscriptions to Simple Earn Flexible Products at the end of the agreed subscription period.
- Users may view their Locked Products subscriptions by navigating to Wallets > Earn > Simple Earn > Locked.
- The unlock period for Locked Products is one day.
- APR rewards are distributed from Binance’s own funds and are determined based on market conditions. This promotion is not associated with the issuer of FDUSD.
- The assets deposited in Simple Earn may be loaned to other Binance users (e.g., Margin and Crypto Loan products).
- A large number of redemption requests might delay redemption temporarily. Redemptions may resume upon the return of liquidity, and delays may result from various factors including market volatility and network delays.
For more information, users can refer to the Locked Products FAQ on Binance's official website.
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