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.

Image
source:
Shutterstock

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