This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance will perform an upgrade on Binance Loans (Flexible Rate) at 2024-02-27 08:00 (UTC), to effectively increase the initial Loan-to-Value (LTV) ratio for all new Flexible Loan orders from 70% to 78%. This allows users to enjoy higher liquidity, as they may then borrow more digital assets with the same amount of collateral.
Please Note:
Flexible term and fixed term orders on VIP Loan are not impacted by this upgrade.
Users may view new Flexible Loan orders placed after 2024-02-27 08:00 (UTC) under the [Flexible Rate (New)] tab on Binance Loans. Please note that any outstanding Flexible Loan orders placed before 2024-02-27 08:00 (UTC) will be moved under the [Flexible Rate (Legacy)] tab.
Binance will close all outstanding Flexible Loan orders under the [Flexible Rate (Legacy)] tab at 2024-04-24 03:00 (UTC) and waive the corresponding liquidation fees. Users are strongly advised to repay outstanding Flexible Loan orders under the [Flexible Rate (Legacy)] tab before 2024-04-24 03:00 (UTC) to avoid any potential losses, where applicable.
After 2024-02-27 08:00 (UTC), users may place new Flexible Loan orders via the Binance App only after they upgrade the App to iOS v2.78.0 or Android v2.78.0, or later. Older app versions will no longer support the placement of new Flexible Loan orders.
Users may refer to Loan Data for the latest interest rates and a complete list of loanable and collateral assets.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
About Binance Loans (Flexible Rate):
Binance Loans (Flexible Rate) is an open-term loan product that allows users to complete loan orders while collateralizing cryptocurrencies in existing Simple Earn Flexible Product subscriptions. Users may enjoy greater flexibility without commiting to a specific loan term when borrowing cryptocurrencies on Binance Loans (Flexible Rate), and earn Real-Time APR rewards via Simple Earn Flexible Products at the same time. Loan rates are refreshed every minute, and users may place a loan order with a minimum of 1 USDT equivalent.
For More Information:
Thank you for your support!
Binance Team
2024-02-21
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
