The world’s largest cryptocurrency exchange Binance announced on Tuesday the official launch of its reward-bearing asset BFUSD. The platform explained that the crypto asset will offer users returns on eligible balances in their futures account, with returns of up to 19.55%.
BFUSD is a reward-bearing asset from Binance, one of the largest cryptocurrency exchanges, to provide users with returns on their eligible balances in their futures account. It can also be used as margin in a multi-asset position while still earning rewards.
Binance Introduces High-Yield Margin Asset BFUSD
Binance Futures revealed in an official announcement on November 26 the launch of the reward-bearing asset BFUSD. Users can start buying the asset on margin at 2 AM UTC on November 27.
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The cryptocurrency platform has set a limit share for the margin asset, which depends on the user’s VIP level. To participate, transfer USDT to your UM wallet. Holders of UM Futures contracts held just one day before will receive an enhanced APY. Interest payments will be distributed daily to users’ UM Futures accounts.
The supply is 120 million, with a guaranteed rate of 101.32%. It will offer a base APY of 29.18%, with a boosted APY of 38.98%, according to Binance data.