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
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