Binance Offers 15.9% APR on FDUSD Locked Products Amid High Demand

Terrill Dicki Oct 08, 2024 08:46

Binance launches a promotional offer for FDUSD Locked Products, promising a fixed 15.9% APR during a limited subscription period from October 9 to October 22, 2024.

Binance has announced a new promotional offer for its FDUSD Fixed Rate Locked Products, as reported by Binance.com. The promotion is set to run from October 9 to October 22, 2024, and offers eligible users a fixed annual percentage rate (APR) of 15.9% for a 14-day locked term.

Promotion Details

The subscription to FDUSD Locked Products is structured on a first-come, first-served basis. The APR remains constant throughout the term, with any changes affecting only new subscriptions. Users are guaranteed the return of their principal upon redemption or at the end of the locking period.

Rewards will be calculated from the day after subscription and distributed daily to the user's Spot Wallet. While early redemption is possible, it results in forfeiting all accrued rewards, and the principal will be returned within 72 hours, barring exceptional circumstances.

How to Participate

Participants must first purchase FDUSD on the Spot market or through supported payment methods like Visa, Mastercard, Apple Pay, or Google Pay. Following the purchase, users can subscribe to the FDUSD Locked Products via the Simple Earn platform by selecting the 14-day option to start earning rewards.

About Binance Simple Earn

Binance Simple Earn allows users to earn daily rewards by depositing digital assets for flexible or locked terms. The platform offers flexibility and liquidity, enabling users to subscribe or redeem assets almost at any time while earning daily returns.

This promotional offer is exclusively available to users eligible for Binance Simple Earn Products, with access potentially restricted based on regional legal and regulatory requirements. Changes to reward rates will be updated on the Binance platform, and users are advised to review Binance Simple Earn Terms & Conditions and the Risk Warning for comprehensive details.

Binance also notes that the locked assets may be loaned to other users, affecting redemption timelines. The promotion is not associated with the issuer of FDUSD, and Binance reserves the right to amend or cancel the promotion at its discretion.

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