Binance Launches USDT Locked Products Offering an 8.23% Fixed APR - Blockchain.News

Binance Launches USDT Locked Products Offering an 8.23% Fixed APR

Terrill Dicki May 23, 2024 05:30

Binance Simple Earn announces the launch of USDT locked products, providing an 8.23% fixed APR.

Binance Launches USDT Locked Products Offering an 8.23% Fixed APR

Binance Introduces USDT Locked Products

According to a recent announcement by Binance, the world-leading crypto exchange has launched USDT on Locked Products under Binance Simple Earn. This new investment opportunity offers a fixed annual percentage rate (APR) of 8.23% to its users.

Mechanism of USDT Locked Products

The USDT Locked Products work on a first-come, first-served subscription format, with a limited duration of fourteen days. The fixed APR remains the same throughout the entire Locked Simple Earn Term. Any changes to the APR will only apply to new and not existing USDT Locked Product subscriptions. The reward calculation period starts from 00:00 (UTC) on the day following the subscription to the Locked Products until the end of the subscription period. Rewards are distributed to the Spot Wallet on a daily basis.

Users have the option for early redemption of locked assets, but all rewards received will be forfeited. The full balance of the locked assets, minus any distributed rewards, will be returned to users’ Spot Wallet within the next 48-72 hours.

How to Subscribe to USDT Locked Products

To get started with USDT Locked Products, users need to navigate to [Simple Earn] on Binance, search for USDT, select 14 Days, and subscribe to USDT Locked Products to start earning 8.23% 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, offering them great flexibility and liquidity over their assets while earning daily rewards.

Binance reserves the right to adjust APRs at any time without prior notice. Users are advised to refer to Binance Simple Earn Terms & Conditions prior to using any products on the Binance Simple Earn platform.

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