This is a general announcement and the products and services mentioned here may not be available in your area.
Dear User:
In order to thank you for your continued support of Binance, Binance Leverage Platform will launch lending for BTC, ETH, DOGE, SHIB, XRP, LTC, PEPE, and OP at 14:00 on August 14, 2023 (Eastern Eighth District Time) Interest rate promotions.
Event time: 14:00 on August 14, 2023 to 14:00 on August 18, 2023 (East Eighth District time)
During the event, all users who borrow any eligible cryptocurrency on Binance Leverage will automatically receive a one-hour interest exemption.
For example:
User A and User B borrowed 10 BTC at 13:20 on August 15, 2023 (Eastern Eighth District time). User A and User B completed repayment at 14:15 (East Eighth District time) and 13:55 (East Eighth District time) on the same day respectively.
Since interest accrues on time every hour (e.g. 13:00, 14:00, etc.), under normal circumstances (i.e. during inactive periods) User A and User B should be charged two hours and one hour respectively. Interest.
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, user A will be charged interest [0.001% * 10 BTC * (2 - 1) hours] = 0.0001 BTC.
On the other hand, since user B repays the loan within the first hour, no interest is charged. The interest is calculated as follows: [0.001% * 10 BTC * (1 - 1) hours] = 0 BTC.
For more information about Binance Margin’s dynamic interest rate system, please refer to the FAQ.
illustrate:
Leveraged Trading Overview
How to Leverage Short Selling-Sell High and Buy Low
How to go long with leverage - buy low and sell high
Binance Leverage Dynamic Interest Rate System
Notice:
The assets, quotas, pledge rates, and interest rates supported by Binance Margin trading will be adjusted at any time based on market conditions. Please refer to the Margin data page for details.
Binance reserves the right to cancel or modify the rewards at its sole discretion without prior notice, including but not limited to canceling, extending, terminating or suspending these activities, their eligibility terms and criteria, evaluation criteria and the timing of any action, and all users will be bound by such modifications;
Additional event terms and conditions can be viewed here;
If there is any discrepancy between the translated version and the original English version, the English version shall prevail.
Thank you for your support!
Binance Team
August 11, 2023