Binance Launches FDUSD Locked Products with 15.9% Fixed APR
Binance
has
announced
a
promotional
offer
for
its
FDUSD
Locked
Products,
enabling
users
to
earn
a
fixed
annual
percentage
rate
(APR)
of
15.9%
on
their
deposits
during
the
promotion
period,
according
to
Binance.
Promotion
Details
The
promotion
period
runs
from
August
30,
2024,
07:00
UTC
to
September
9,
2024,
06:59
UTC.
During
this
time,
eligible
users
who
subscribe
to
FDUSD
Locked
Products
can
take
advantage
of
the
15.9%
APR.
The
subscription
format
operates
on
a
first-come,
first-served
basis,
with
a
fixed
duration
of
10
days.
Mechanism
of
FDUSD
Locked
Products
-
Subscription
Format:
Limited
subscriptions
on
a
first-come,
first-served
basis
for
a
fixed
duration
of
10
days. -
APR:
The
fixed
rate
remains
constant
throughout
the
Locked
Simple
Earn
Term.
Any
changes
to
the
APR
will
only
apply
to
new
subscriptions,
not
existing
ones. -
Principal
Protection:
Users
will
receive
their
principal
back
upon
redemption
or
at
the
end
of
the
locking
period. -
Reward
Calculation
Period:
Begins
at
00:00
UTC
the
day
after
subscription
and
continues
until
the
end
of
the
subscription
period. -
Rewards
Distribution:
Distributed
daily
to
users’
Spot
Wallets. -
Early
Redemption:
Users
can
redeem
locked
assets
early,
but
all
rewards
received
will
be
forfeited.
The
full
balance
minus
any
distributed
rewards
will
be
returned
to
users’
Spot
Wallets
within
72
hours,
though
delays
may
occur
in
exceptional
circumstances.
How
to
Get
Started
-
Purchase
FDUSD
on
the
Spot
market
or
via
the
Buy
Crypto
page,
which
supports
various
payment
methods
including
Visa,
Mastercard,
Apple
Pay,
Google
Pay,
and
wallet
balances.
Users
can
also
deposit
FDUSD
into
their
Binance
account. -
Navigate
to
[Simple
Earn]
and
search
for
FDUSD. -
Select
the
10-day
option
and
subscribe
to
FDUSD
Locked
Products
to
start
earning
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
almost
anytime,
maintaining
flexibility
and
liquidity
while
earning
daily
rewards.
Please
Note
-
The
promotion
is
available
only
to
users
enabled
to
use
Binance
Simple
Earn
Products
and
may
be
restricted
in
certain
jurisdictions. -
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
before
using
any
products
on
the
platform. -
At
the
end
of
the
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
by
going
to
Wallets
>
Earn
>
Simple
Earn
>
Locked. -
Unlock
period
for
Locked
Products
is
one
day.
APR
rewards
are
distributed
from
Binance’s
own
funds
and
are
based
on
market
conditions. -
The
promotion
is
not
associated
with
the
issuer
of
FDUSD. -
Deposited
assets
in
Simple
Earn
may
be
loaned
to
other
Binance
users. -
A
large
number
of
redemption
requests
might
delay
the
process
temporarily.
Redemptions
may
resume
upon
return
of
liquidity.
Delays
can
result
from
various
factors
including
market
volatility
and
network
delays.
For
more
information,
users
can
check
the
Locked
Products
FAQ.
Image
source:
Shutterstock
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