Introduction to Flexible Products
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Introduction to Flexible Products
Last updated: 26 July 2024
You can subscribe to Binance Simple Earn Flexible Products at any time from the Simple Earn platform and start earning rewards every minute.
Assets subscribed to Simple Earn Flexible Products can also be used as collateral for Binance Flexible Loan. These collateral assets will continue to earn Real-Time APR rewards, but not Bonus Tiered APR rewards or airdrops. Find out more about Binance Flexible Loans here.
Binance Simple Earn Flexible Product assets can also be used in Binance Pay. You can send your Flexible Product assets to other Binance users via Binance Pay. To learn more about this new function, click here. *Binance Pay Terms and Conditions apply.
1. Utilization of assets in Flexible Products and source of yield
When you subscribe to Simple Earn Flexible Products, you’re providing liquidity to business units within Binance for operational purposes. This includes lending Simple Earn assets to other users via Margin and Loan products. The interest accrued from Margin and Loan products is converted into yield, which may be distributed to you as compensation for supplying your assets as liquidity.
- The Real-Time APR indicated for each token reflects its demand and supply dynamics, along with other factors that help maintain the sustainability and competitive returns.
- Generally, a token’s APR is higher if a larger proportion of its assets are being lent out compared to its total pool size.
We aim to keep a portion of each liquidity pool available for redemptions by setting utilization limits on each token, while maintaining balance in liquidity pools. Nonetheless, a large amount of redemption requests for a specific token may lead to temporary shortages in available balances. In these cases, redemptions can resume once borrowers repay their loans or when additional liquidity is provided by other users. Rest assured, your assets remain safe and secure.
We strive to ensure smooth transactions. However, please be aware that even if liquidity pool balances are available for redemptions, your assets on Simple Earn may not be immediately redeemable due to real-time demand and supply dynamics from time to time. Binance will not be held liable for any losses resulting from delays in processing redemption requests for Simple Earn Flexible Products. For more information, please refer to Simple Earn Terms.
2. Subscription and redemption
Subscriptions are immediate; your assets will be transferred from your Spot Wallet to your chosen product upon confirmation.
Once you submit a redemption request, your Flexible Product assets will be processed and returned to your Spot Wallet immediately. You’ll continue to earn Real-Time APR rewards until the moment of redemption, but any Bonus Tiered APR rewards accrued that day will be forfeited.
Please note that Simple Earn Flexible Product assets pledged as collateral in Binance Flexible Loan cannot be redeemed. You must first repay the loan and release these assets from collateralization before redeeming them.
Daily redemption limits apply to each Flexible Product and are subject to change at any time. The availability of redemptions or delays in processing requests can be due to various factors, including but not limited to:
- Extreme market volatility
- Network delays
- A high volume of simultaneous redemption requests from other Binance users
- Any other unexpected events
3. What is Auto-Subscribe and how does it work?
The Auto-Subscribe function allows you to automatically subscribe to Simple Earn products using assets from your Spot Wallet.
You can enable Auto-Subscribe for Flexible Products from the subscription pop-up or your Earn Wallet. Simply toggle on the [Auto-Subscribe] button next to the product to activate it.
Please note:
- Once Auto-Subscribe is enabled for an eligible Flexible Product, any balance of that token in your Spot Wallet will be automatically transferred into the corresponding Flexible Product daily at 02:00 and 16:00 (UTC).
- You can disable the Auto-Subscribe feature from your Earn Wallet to stop future subscriptions.
4. How is APR calculated and distributed for Flexible Products?
Rewards for Flexible Products include Real-Time APR Rewards and Bonus Tiered APR Rewards.
Real-Time APR rewards
Real-Time APR provides a live indication of the rewards you can earn and is subject to change every minute. This APR applies to the total amount you deposit in each Flexible Product. Real-Time APR rewards are accrued and directly accumulated in your Earn Wallet every minute, rounded to eight decimal places. As a result, your Flexible Product balance for each token will increase over time.
Please note that you won’t see distribution records since these rewards are not distributed to your Spot Wallet. You may refer to your Simple Earn History for a daily record of Real-Time APR rewards earned.
For example, if you subscribe with 2,000 ABC tokens with a current Real-Time APR of 2.09%, you’ll earn 2,000 ABC * 2.09%/365/24/60 = 0.00007952 ABC in the next minute. Therefore, your Flexible Product balance in the next minute will be 2,000.00007952 ABC.
Bonus Tiered APR rewards
Bonus Tiered APR is a special offer available for selected Flexible Products. Rewards are calculated based on a tiered rate structure, which offers different levels of APR based on the amount of assets deposited. This APR can change daily. The published Bonus Tiered APR on our website indicates the rewards you may receive while subscribed to Flexible Products, and daily rewards may vary according to changes in the published rate.
Bonus Tiered APR rewards starts accruing the day after your subscription begins, starting at 00:00 UTC. You’ll begin receiving reward distributions in your Spot Wallet the day after accrual starts (two days after subscription) between 00:00 UTC and 08:00 UTC.
For example, if you subscribe with 2,000 ABC tokens on day 1 at a Bonus Tiered APR of 5% on the first 500 ABC tokens, you’ll start accruing interest starting from day 2 at 00:00 UTC. After accruing interest on the first day, you’ll receive 500 ABC * 5%/365 = 0.06849 ABC tokens on day 3.
For more information about Simple Earn, please refer to the following guides:
- Introduction to Binance Simple Earn
- Get Started with Binance Locked Products
- Binance Simple Earn Terms & Conditions
Disclaimer:
This document may have been translated and published in different languages. If inconsistency, misstatements, omissions, or errors appear in any translated version, the English version shall prevail.
Disclaimer: Digital asset prices can be volatile. 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. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.
1. How to subscribe to Simple Earn Flexible Products?
1. Log in to your Binance account and click [Earn] - [Simple Earn].
2. Find the token you’d like to subscribe to using the search box or by clicking [View More].
Then click [Flexible] next to the coin, and click [Subscribe].
3. A subscription pop-up will appear. Select [Flexible] and enter the subscription amount. You can also enable the [Auto-Subscribe] function here. Review the subscription summary below and check the details in [Product Rules] on the right and click [Confirm] to subscribe.
- Subscribe:
- Duration (Days): Choose between flexible terms and specific subscription days.
- Subscription amount: The amount of tokens you want to subscribe.
- Amount limits:
- Minimum: The minimum amount of tokens required for a subscription.
- Summary: Shows the estimated daily rewards you can earn based on the subscription amount.
- Daily Real-Time rewards: The estimated daily base rewards you can earn from your subscription, which may change every minute. You can view the past 24-hour/30-days APR trend by clicking the [Daily Real-Time APR Rewards].
- Daily Bonus Tiered Rewards (if applicable): The estimated daily additional rewards based on the amount deposited. You can view the Tier APR structure by [Daily Bonus Tiered Rewards].
- Product Rules
- Real-Time APR Rewards: The basic rewards you can earn from your subscription amount, which is subject to change every minute.
- Bonus Tiered APR Rewards (if applicable):
- Subscription Date: The date and time of your subscription.
- Accrual Start Date: When your assets begin to accrue rewards.
- First Distribution Date: When you start receiving Bonus Tiered APR rewards.
- Yesterday’s Airdrop APR (if applicable): The previous day’s APR for additional rewards from certain products.
4. A confirmation message will appear with details of your subscription. Your assets will be transferred from your Spot Wallet to the Simple Earn Flexible Product you selected. You can click [View Holdings] to manage your subscriptions in the Earn Wallet.
2. How to redeem your Flexible Products?
1. Log in to your Binance account and go to [Earn] - [Simple Earn]. Click [Wallet] to access your Earn Wallet. Here you can manage your subscriptions and redemptions and enable/disable the Auto-Subscribe function.
2. Click [Redeem] next to the asset you wish to redeem, or you can use the [Manage Redemption] function to redeem multi-assets in one click.
3. A redemption pop-up will appear. Enter your redemption amount and select the redemption method. Click [Confirm].
4. A confirmation message will appear with the redemption details. You will see an estimated time for your assets to be returned to your Spot Wallet.
3. How to view my Flexible Product history?
1. Log in to your Binance account and click [Go to Earn History].
2. Go to the [Flexible] tab. You can filter your transaction history by token type, activity type (such as subscription, redemption, and rewards), and dates.
3. Next, click [Search].
Please note: The Real-Time APR rewards displayed in your Simple Earn History are directly accumulated in your Earn Wallet and not distributed to your Spot Wallet.
1. How to subscribe to Simple Earn Flexible Products?
1. Log in to your Binance account and go to [Earn] - [Low Risk], or scroll to the bottom, tap [View All Coins] and go to [Simple Earn].
2. Use the search box or filter function to find the token you’d like to subscribe to. Then select [Flexible].
3. Enter the amount you want to subscribe. You can also enable or disable the [Auto-Subscribe] function. Check the subscription summary and tap [Confirm].
4. A confirmation message will appear with the details of your subscription. Your assets will be transferred from your Spot Wallet to the Simple Earn Flexible Product you selected. You can tap [Go To Earn Wallet] to manage your subscriptions in the Earn Wallet.
2. How to redeem your Flexible Products?
1. Log in to your Binance account and go to [Wallets] - [Earn] to access your Earn Wallet.
2. Select the [By Asset] or [By Product] tabs to go to your Flexible Product holdings.
3. Details of your Flexible Product balance will be shown, together with options to enable/disable [Auto-Subscribe], [Redeem], and [Subscribe].
4. Tap [Redeem] and enter the amount you want to redeem. Click [Confirm].
Important Note: Flexible Product assets that are collateralized for Binance Flexible Loan orders cannot be redeemed until the corresponding outstanding loans are repaid and collateral assets are returned to your Earn Wallet.
5. A confirmation message will appear with details of your redemption. You’ll also see the estimated time for when your assets will be returned to your Spot Wallet.
3. How to view my Flexible Product history?
1. Log in to your Binance account and tap [Wallets] - [Earn].
2. Tap the [History] icon in the top right corner of your screen.
3. You can filter your transaction history by token type, activity type (such as subscription, redemption, and rewards), and dates.
Important Note: The daily record of Real-Time APR rewards displayed in your Simple Earn History are directly accumulated in your Earn Wallet and not distributed to your Spot Wallet.
