This is a general announcement, and the products and services mentioned here may not be applicable in your region.
Dear users:
The Binance contract trading platform has launched BFUSD, a yield-generating margin asset that provides rewards for the eligible BFUSD balance held by active Binance contract users in their contract wallets. BFUSD can also be used as margin in a joint margin mode while still earning rewards.
Starting from 10:00 AM on November 27, 2024 (UTC+8), users can purchase BFUSD on the Binance contract trading platform. Users who purchase BFUSD early can enjoy zero fees.
Qualified users who purchase and hold BFUSD in their contract accounts can enjoy the basic annual yield rate* reward daily! Users who trade U-based contracts with BFUSD daily will receive enhanced annual yield rate rewards above the basic annual yield rate.
To celebrate the launch of BFUSD, the Binance contract trading platform is launching three limited-time activities. Enjoy limited-time zero-fee purchases of BFUSD and a 10% additional annual yield reward, and share 100,000 USDT in token vouchers!
Event duration: From November 27, 2024, 10:00 AM to December 27, 2024, 07:59 AM (UTC+8)
Activity One: Zero-fee purchase of BFUSD
During the event, all qualified users from VIP 0 to VIP 9 will enjoy the benefit of zero fees when purchasing BFUSD, with the maximum purchase limit determined by the user's VIP level.
Please note:
Fees still apply when converting BFUSD into USD stablecoins. For more information, please refer to this FAQ;
Users do not need to register for Activity One, as eligible users who meet the above conditions will automatically enjoy the zero-fee benefit.
Activity Two: Hold BFUSD and trade contracts to enjoy an additional 10% annual yield rate
During the event, any qualified users who register and participate in the event, subscribe to BFUSD for more than 72 hours, and conduct at least one U-based contract transaction will receive an additional annual yield reward of 10% on top of the basic or enhanced annual yield rate. The additional 10% annual yield reward only applies to BFUSD purchased and held by the user during the event.
The additional 10% annual yield reward only applies to the first 1,000 BFUSD purchased by each user. A minimum purchase of 10 BFUSD is required to qualify for the reward. The additional 10% annual yield reward will be distributed on a first-come, first-served basis according to the holding and subscription dates until the 40,000 USDT reward is fully distributed.
Please note:
If the 40,000 USDT reward in Activity Two has been fully distributed, users may receive a reward amount that is less than their expected reward based on the amount of BFUSD held;
To qualify for the basic annual yield rate reward, users must hold BFUSD in their U-based contract wallet. To qualify for the enhanced annual yield rate reward, users must also complete a U-based contract transaction daily to receive the daily reward;
To receive the additional 10% annual yield reward during the event, users must hold BFUSD for at least 72 hours and conduct at least one U-based contract transaction during the event;
Binance will take daily snapshots of each user's BFUSD holdings and calculate rewards daily. After the event ends, the rewards from daily snapshots will be accumulated to determine the user's final reward;
Daily BFUSD holding amount = Total BFUSD subscribed - Total BFUSD redeemed;
*Any references to the basic and enhanced annual yield rates are for reference only and do not represent the actual reward rate for BFUSD. Actual rewards may be higher or lower than the amounts shown. Binance does not guarantee the reward amount. Actual annual yield rates may be zero, and the rewards for both basic and/or enhanced annual yield rates may also be zero. However, qualified users can still receive the 10% additional annual yield reward. Terms and conditions apply.
Activity Three: The more BFUSD held, the more rewards – Share an additional 60,000 USDT in rewards
During the event, the first 9,000 qualified users who register and meet the minimum BFUSD holding requirement will be eligible for rewards. Qualified users who reach 5,000 BFUSD and 10,000 BFUSD holdings will receive an additional 5 USDT or 10 USDT, respectively, on a first-come, first-served basis until the 60,000 USDT reward is fully distributed.
During the event, users' subscription amounts will be snapshot to determine rewards. Users must hold BFUSD for at least 72 hours and conduct at least one U-based contract transaction during the event to qualify for rewards.
Please note:
Each user can only receive one reward from Activity Three, either 5 USDT or 10 USDT, based on the higher reward level;
If the higher-level reward has been fully distributed, users may receive the lower-level reward.
How BFUSD works:
BFUSD is an innovative product launched by Binance, providing rewards for the eligible BFUSD balance held by Binance contract users in their contract wallets. BFUSD can also be used as margin in a joint margin mode while still earning rewards. BFUSD can
be converted into a USD stablecoin, making it a stable choice in the crypto market.
Users holding BFUSD in their Binance contract wallets will be eligible to receive daily rewards calculated based on the daily interest rate in USD stablecoins. If users actively trade U-based contracts daily, they will be eligible to receive higher enhanced rate rewards daily.
The earnings from BFUSD come from Binance's hedging and investment strategies, including staking and funding fee income. To ensure the stability and security of BFUSD holders, Binance has established a strong BFUDS reserve fund with a startup capital of 1 million USD.
Binance's ability to generate earnings through its hedging and investment strategies is a key factor in determining the basic and enhanced rates and will depend on current market conditions, including but not limited to certain funding rates on the Binance platform.
How to purchase BFUSD:
Web version:
Step 1: Log in to your Binance account and go to [Contracts] - [BFUSD Rewards].
Step 2: Click [Buy] and enter the amount you wish to purchase.
Step 3: Accept the terms and conditions, then click [Confirm] to complete the purchase.
Binance App:
Step 1: Go to [Contracts] and click the banner [Hold BFUSD, Enjoy Yield Increase].
Step 2: Click [Buy] and enter the amount you wish to purchase.
Guides and related materials:
Binance contracts launch BFUSD: A reward-based margin asset tailored for contract traders
What is BFUSD and how to use it as margin in contract trading
How to purchase BFUSD and convert it to USD stablecoin
How to determine the reward rate for BFUSD holders
Terms and conditions:
Only users who have completed identity verification and clicked the 'Participate in the event now' button on the event page during the event period will be eligible for rewards (qualified users);
Users participating in this event by default understand and agree to all terms regarding BFUSD;
Reward distribution: USDT token voucher rewards will be distributed to qualified users within 14 business days after the event ends. Users can check their rewards in Account > Reward Center;
Users must activate the token vouchers within 30 days after distribution. Learn how to redeem token voucher rewards;
USDT token vouchers must be redeemed before expiration. If the vouchers are not claimed before expiration, they will be regarded as automatically forfeited, and no replacements will be issued;
The event is only available in regions and for users where contract trading services are enabled, and may not be available or restricted in certain jurisdictions or regions, or limited for certain users depending on legal and regulatory requirements;
Users are responsible for understanding and complying with any restrictions and/or requirements for accessing and using Binance contract trading services in each country where Binance provides services;
Binance reserves the right to disqualify any participant who tampers with Binance's program code or uses other software to interfere with the operation of Binance's program code;
During the event, Binance reserves the right to disqualify any participant if there are reasonable suspicions or sufficient grounds to believe they have violated the terms of use;
Binance reserves the right to reasonably decide and/or modify or change these terms and conditions, eligibility for awards, selection and number of winners, and timing of any actions for significant reasons, including:
Changes in applicable regulations or policies;
Obligations arising from decisions made by laws or common courts or public administrative authorities;
Anti-money laundering or counter-terrorism financing rules;
Technical issues beyond Binance's control;
The need to protect users from potential losses;
The need to protect Binance from reputational damage.
Binance's terms and conditions for promotional activities apply to this event;
There may be discrepancies between the original English announcement and the translated version. In case of any discrepancies, please refer to the original English version for the latest or most accurate information.
Thank you for your support of Binance!
Binance Team
November 26, 2024
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Binance has always valued compliance obligations and strictly adheres to the relevant requirements of regulatory authorities in various regions, and we ask you to comply with the relevant laws and regulations of your country or region.
Binance reserves the right to modify, change, or cancel this announcement at any time at its sole discretion for any reason without prior notice.
Disclaimer: You are solely responsible for your investment decisions, and Binance is not responsible for any potential losses. Reward rates (including basic rates and enhanced rates) are calculated daily and expressed in annual yield rates for illustrative purposes only. Each reward rate only represents the performance of BFUSD on a specific date and does not represent performance during other periods or predict future results. Reward rates may fluctuate daily. Past performance is not a reliable indicator of future performance. You should only invest in products that you are familiar with and understand the risks involved. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial advisor before making any investments. BFUSD cannot be withdrawn or used for any purpose other than as margin for Binance contract accounts. There may be redemption restrictions that could affect your ability to convert BFUSD into supported USD stablecoins. This document should not be considered financial or investment advice. For responsible trading practices, please refer to Binance's responsible trading information page. For more details, please refer to Binance's terms of use and risk warnings.