This is a general advertisement and marketing communication. The products and services mentioned herein may not be available in your region.

Caros Binancers,

To celebrate the launch of Fixed Rate Lending, Binance is excited to launch a new promotion, offering borrowers and providers enhanced liquidity options and the chance to win 799 USDC and 100 USDC in token vouchers, respectively.

Promotion period: from 02:00 on 09/19/2024 (BRT) until 20:59 on 10/11/2024 (BRT)

Promotion A: Get a loan from Fixed Rate Loans to earn 799 USDC

During the promotion period, users who borrow at least $200,000 equivalent in Fixed Rate Loans will be ranked by the total loan amount equivalent in USD. The top ten eligible participants will each be eligible to receive 799 USDC in token vouchers.

Qualifying Fixed Rate Loan loan orders include:

  1. Borrow from existing supply orders or

  2. Create a loan order that is matched

Promotion B: Provide fixed-rate loans to earn 100 USDC

During the promotion period, users who complete at least one supply order in Fixed Rate Lending will be ranked by the total amount of supply equivalent in USD. The top 30 eligible participants will each be eligible to receive 100 USDC in token vouchers.

Qualifying Fixed Rate Loan supply orders include:

  1. Provide loans for existing loan orders or

  2. Create a new supply order that is matched

How Binance Fixed Rate Loans Work:

To get a Fixed Rate Loan:

  1. Create an order: Click [Create an order] - [I want to apply for a loan] to create an order to set up the loan information, or click [Loan] next to your preferred order in "Loan Market".

  2. Configure collateral: Select eligible assets from your Spot Wallet as collateral to meet the initial LTV requirement (loan-to-value ratio).

  3. Confirm Order: Review and confirm the order details and Terms and Conditions, click [Confirm].

  4. Order Matched: After the order is matched, your borrowed funds minus the pre-calculated interest will be transferred to your Spot Wallet. Check the order status in [My Orders] - [Orders in Progress].

  5. Payment: Pay the loan in full before the due date to avoid late fees.

For provision of Fixed Rate Loans:

  1. Create an order: Click [Create an order] - [I want to offer a loan] to create an order to set up the supply information, or click [Supply] next to the preferred order in Supply Market.

  2. Confirm Order: Review and confirm the order details and Terms and Conditions, click [Confirm].

  3. Order Matched: After the order is matched, your provided funds will be transferred from your Spot Wallet and the principal amount will be protected by Binance during the order period. Return Interest starts accruing after the order is matched. Check the order status in [My Orders] - [Ongoing Orders].

  4. Payout: After the loan expires, your borrowed assets and interest return will be delivered to your Spot Wallet within 24 hours after the due date. Check your assets in your Spot Wallet.

Get started with Binance Fixed Rate Lending today!

For more information, see the Fixed Rate Loans, Flexible Loans and VIP Loans FAQs.

Notes:

  • Please refer to the Binance Fixed Rate Lending Terms and Conditions before placing any order on the lending platform.

  • Rewards:

    • Eligible users will receive USDC token vouchers within 3 weeks after the campaign ends.

    • Users can log in and redeem their token coupons under Profile > Rewards Hub. Learn how to redeem a token coupon.

    • All distributed token vouchers will expire within 30 days after distribution. Eligible users must redeem their rewards before the expiration date.

    • Each user can only receive a maximum of one reward from these promotions. When participating in this promotion, each sub-account will not be considered an independent account.

  • About USDC:

    • USDC is an electronic money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). The USDC whitepaper is available here. You can contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com.

    • USDC holders have a legal claim against Circle SAS as the issuer of USDC in the EU. These holders have the right to request redemption of their USDC from Circle SAS. This redemption will be made at any time and at nominal value.

  • For the borrower:

    • Once the borrowing order is placed, the borrower’s collateral assets will be frozen in their Spot Wallet and cannot be transferred or traded. If the borrower wants to release them, they must cancel the unmatched order. Once the order is matched, their collateral assets will be automatically transferred out of their Spot Wallet and held by Binance until the loan is repaid in full.

    • Loan interest is charged in advance at the time of transfer of loan assets. The actual amount the borrower receives is the amount borrowed minus the pre-calculated loan interest. If the borrower pays off the loan early or the loan is paid off before the loan term expires, the amount of loan interest payable will remain unchanged and will not be refunded to the borrower.

    • Borrowers are responsible for monitoring and adjusting the LTV (loan-to-value ratio). If the borrower's order reaches the Liquidation LTV, the system will immediately execute forced liquidation. A liquidation fee of 2% of the loaned amount will be charged.

    • Please make the payment on time. Late fee will automatically accrue hourly when the borrower fails to repay the loan on the agreed loan due date.

  • For the supplier:

    • Once the supply order is created, the supplier's matching assets will be frozen in their Spot wallet, and cannot be transferred or traded. If the supplier wants to release them, they must cancel the unmatched order.

    • Once the order is matched, the loan supply assets will be transferred from the supplier’s Spot wallet and the principal amount will be protected by Binance for the duration of the order. The supplier will not be able to redeem the borrowed assets before the maturity date or request early repayment.

    • No interest will accrue until the order is matched. The accrued interest return will be distributed along with the return of the provided assets within 24 hours after the due date.

  • Users can view their orders by going to Fixed Rate Borrowing Orders > Orders in Progress.

  • There may be discrepancies in the translated version of this original English article. Please refer to the original version for the most recent or accurate information where discrepancies may arise.

Thank you for your support!

Binance Team

19/09/2024