Binance Margin Offers One-Hour Interest Fee Waiver for USDC and Select Cryptocurrencies

Binance
Margin
has
unveiled
a
new
promotional
offer
that
provides
a
one-hour
interest
fee
waiver
for
borrowing
USDC
and
a
selection
of
other
cryptocurrencies.
This
promotion,
which
started
on
July
4,
2024,
at
11:00
(UTC),
will
run
until
July
21,
2024,
at
11:00
(UTC),
according
to

Binance.

Promotion
Details

During
the
promotion
period,
users
who
borrow
any
of
the
eligible
cryptocurrencies
on
Binance
Margin
will
automatically
receive
a
one-hour
interest
fee
waiver.
The
eligible
assets
for
this
promotion
include
USDC,
BTC,
ETH,
SOL,
BONK,
DOGE,
FLOKI,
LISTA,
PEPE,
WIF,
ZRO,
and
ZK.

For
example,
if
User
A
and
User
B
each
borrow
10
BTC
at
11:20
(UTC)
on
July
4,
and
repay
at
12:15
(UTC)
and
11:55
(UTC)
respectively,
the
interest
charged
will
differ
significantly
due
to
the
promotion.
Under
standard
circumstances,
User
A
and
User
B
would
be
charged
for
two
hours
and
one
hour
of
interest
respectively.
However,
during
the
promotion
period,
User
A
will
be
charged
only
for
one
hour,
and
User
B
will
not
incur
any
interest
charges.

Terms
and
Conditions

Participants
in
this
promotion
will
be
deemed
to
have
accepted
and
be
bound
by
the
promotion’s
terms
and
conditions.
Key
terms
include:

• Interest
  on
  Binance
  Margin
  accrues
  at
  the
  start
  of
  every
  hour.
• Inventory
  availability
  operates
  on
  a
  first-come,
  first-served
  basis,
  and
  Binance
  cannot
  guarantee
  inventory
  will
  always
  be
  available.
• Binance
  reserves
  the
  right
  to
  disqualify
  any
  participants
  who
  tamper
  with
  the
  Binance
  program
  code
  or
  interfere
  with
  its
  operation.
• Binance
  reserves
  the
  right
  to
  disqualify
  trades
  deemed
  to
  be
  wash
  trades,
  illegal
  bulk
  account
  registrations,
  self-dealing,
  or
  display
  signs
  of
  market
  manipulation.
• Binance
  reserves
  the
  right
  to
  amend
  or
  vary
  the
  terms
  and
  conditions,
  eligibility
  criteria,
  and
  the
  selection
  and
  number
  of
  winners.

Additional
Information
and
Resources

For
more
details
on
the
dynamic
interest
rate
system
for
Binance
Margin
trading,
users
can
refer
to
Binance’s
official
documentation.
Additionally,
the
latest
information
on
marginable
assets,
specific
limits,
collateral
ratios,
and
rates
can
be
found
on
the
Binance
Margin
fee
page.

Binance
has
emphasized
that
digital
asset
prices
are
subject
to
high
market
risk
and
price
volatility.
The
company
advises
users
to
make
informed
investment
decisions
and
consult
independent
financial
advisors.

For
further
details,
visit
the
official

Binance
announcement.

Image
source:
Shutterstock