Binance Unveils New IOTX Locked Products Offering Up to 11.9% APR

Binance
Simple
Earn
has
announced
an
update
to
its
Locked
Products,
now
including
IoTeX
(IOTX),
with
the
potential
to
earn
up
to
11.9%
annual
percentage
rate
(APR)
in
rewards.
The
promotion
period
for
these
new
products
runs
from
June
13,
2024,
to
July
13,
2024,
according
to

Binance.

Promotion
Period
and
Subscription
Details

To
qualify
for
the
promotional
APR,
subscriptions
to
IOTX
Locked
Products
must
be
completed
between
June
13,
2024,
at
10:00
UTC
and
July
13,
2024,
at
09:59
UTC.
The
subscription
process
operates
on
a
first-come,
first-served
basis,
with
minimum
and
maximum
subscription
limits
and
duration
requirements
that
can
affect
the
APR
received.

The
reward
calculation
period
begins
at
00:00
UTC
on
the
day
following
the
subscription
and
continues
until
the
end
of
the
subscription
period.
Rewards
will
be
distributed
on
a
daily
basis.

How
to
Get
Started

Participants
can
begin
by
navigating
to
the
Earn
section
on
the
Binance
platform
and
searching
for
IOTX.
After
selecting
the
desired
duration,
users
can
subscribe
to
start
earning
up
to
11.9%
APR
daily.

Important
Considerations

Binance
reserves
the
right
to
adjust
APR
rates
after
the
promotion
period
without
prior
notice.
Users
are
encouraged
to
review
the

Binance
Simple
Earn
Terms
&
Conditions
before
using
any
products
on
the
platform.

At
the
end
of
the
agreed
subscription
period,
Binance
Simple
Earn
will
automatically
redeem
the
digital
assets
subscribed
to
Locked
Products
into
Flexible
Products.
The
value
of
digital
assets
can
fluctuate
and
is
subject
to
change.

Users
can
view
their
Locked
Products
subscriptions
by
navigating
to
Wallets
>
Earn
>
Simple
Earn
>
Locked.
The
platform
also
offers
an
“Auto-Subscribe”
function
that
automatically
renews
the
Locked
Products
position
into
a
new
position
of
the
same
duration
upon
expiry.

The
unlock
period
for
Locked
Products
is
one
day,
and
users
can
opt
for
early
redemption,
which
will
return
the
digital
assets
to
the
spot
account
without
any
accrued
rewards.
It
may
take
48-72
hours
for
the
assets
to
be
returned.

Binance
has
noted
that
the
promotional
APR
is
partly
furnished
through
a
partnership
with
their
token
partner,
allowing
for
competitive
or
boosted
APR
for
users.

Additional
Information

Binance
has
emphasized
that
digital
asset
prices
can
be
volatile,
and
the
value
of
investments
may
go
down
as
well
as
up.
Users
are
solely
responsible
for
their
investment
decisions,
and
Binance
is
not
liable
for
any
losses
incurred.
APR
is
an
estimate
of
rewards
and
does
not
represent
actual
or
predicted
returns
in





fiat
currency.
The
estimated
rewards
may
differ
from
actual
rewards
generated.

For
more
details,
users
can
refer
to
the

Risk
Warning
and

Terms
of
Use
provided
by
Binance.

Image
source:
Shutterstock

.
.
.

Tags