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

1. 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.
2. Navigate
   to
   [Simple
   Earn]
   and
   search
   for
   FDUSD.
3. 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