This is a general announcement and the products and services mentioned here may not be available in your area.
Dear User:
The Binance Leverage platform will launch new lending rate promotions for USDC, BTC, ETH, SOL, BONK, DOGE, FLOKI, LISTA, PEPE, WIF, ZRO, and ZK at 19:00 on July 4, 2024 (GMT+8).
Event time: 19:00 on July 4, 2024 to 19:00 on July 21, 2024 (GMT+8)
During the event, users who borrow any eligible cryptocurrency on Binance Margin will automatically receive a one-hour interest waiver.
For example:
User A and User B each borrowed 10 BTC at 19:20 (ET8) on July 4, 2024. User A and User B completed repayments at 20:15 (ET8) and 19:55 (ET8) on the same day respectively;
Since the leverage platform calculates interest on an hourly basis (e.g. 19:00, 20:00, etc.), under normal circumstances (i.e., during non-activity periods), User A and User B should be charged two hours and one hour of interest respectively;
Assuming that the hourly interest rate for borrowing BTC is 0.001%, since users will automatically enjoy one hour of interest reduction during the event, the actual interest charged to user A is: [0.001% * 10 BTC * (2 - 1) hours] = 0.0001 BTC;
On the other hand, since user B repays the loan within one hour, no interest is charged. The interest is calculated as follows: [0.001% * 10 BTC * (1 - 1) hours] = 0 BTC.
For more information, please refer to Binance Margin Dynamic Interest Rate System.
illustrate:
Notice:
The assets, quotas, pledge rates, and interest rates supported by Binance Leverage will be adjusted at any time based on market conditions. Please refer to the Leverage Data page for details.
The currency inventory is based on a first-come, first-served basis. Binance does not guarantee that the inventory is always sufficient;
During the event, if there is any malicious volume-increasing behavior, batch registration of small accounts, self-buying and self-selling, mutual knocking and other cheating behaviors, Binance will strictly review and disqualify the participants;
Binance reserves the right to disqualify any participant who tampers with the Binance code or uses other software to interfere with the operation of the Binance code.
Binance reserves the right to modify or change these Terms and Conditions, its eligibility terms and criteria, and the timing of taking any action at its sole discretion, including but not limited to:
changes in applicable regulations or policies;
Obligations arising from laws or decisions of ordinary courts and public bodies;
rules to combat money laundering or the financing of terrorism;
Technical issues beyond our control;
It is necessary to protect users from potential losses;
It is necessary to protect Binance from reputational damage;
Extraordinary events or circumstances beyond our control (force majeure).
There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.
Thank you for your support!
Binance Team
July 4, 2024
