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

Binance has launched a brand new promotion to have a good time the introduction of its Mounted Price Loans, in keeping with an official announcement. The promotion offers 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

In the course of the promotion interval, customers who borrow a minimum of a complete of $200,000 equal on Mounted Price Loans can 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 a minimum of one provide order on Mounted Price Loans can 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 Price Loans Work

To Borrow on Mounted Price 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 popular order underneath “Borrow Market”.
2. Arrange Collateral: Choose eligible belongings from the Spot Pockets as collateral to fulfill the Preliminary LTV (Mortgage-to-Worth) requirement.
3. Affirm Order: Overview and make sure the order particulars and the Phrases & Situations, then click on [Confirm].
4. Order Matched: As soon as the order is matched, the borrowed funds minus the pre-calculated pursuits can be transferred to the Spot Pockets. Examine the order standing in [My Order] – [Ongoing Order].
5. Compensation: Repay the mortgage in full earlier than the expiry date to keep away from the Late Charge.

To Provide on Mounted Price 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 popular order underneath Provide Market.
2. Affirm Order: Overview and make sure the order particulars and the Phrases & Situations, then click on [Confirm].
3. Order Matched: As soon as the order is matched, the provided funds can be transferred from the Spot Pockets and can be principal-protected by Binance at some point of the order. Return Curiosity begins accruing on matching. Examine the order standing in [My Order] – [Ongoing Order].
4. Compensation: After the mortgage expires, the loaned belongings and Return Curiosity can be delivered to the Spot Pockets inside 24 hours following the expiry date. Examine the belongings within the Spot Pockets.

Extra Info

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 consumer 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 in opposition to Circle SAS and might request redemption of their USDC from Circle SAS at any time and at par worth.

For extra particulars on how Binance Mounted Price Loans work, customers are inspired to consult with the Mounted Price Loans FAQ, Versatile Loans FAQ, and VIP Mortgage FAQ.

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