How to Participate in Morpho Lending for Exclusive Rewards with Binance Web3 Wallet?

Note: This FAQ was updated on 2024-11-26.

Disclaimer: In compliance with MiCA requirements, unauthorized stablecoins are subject to certain restrictions for EEA users. Please disregard this activity if you are a user from the EEA. For more information, please click here.

You can now supply USDC and USDT on Simple Yield Morpho Pools to earn up to 43% APR. To participate, please visit the Morpho campaign page.

Promotion Period: 2024-11-26 00:00:00 (UTC) to 2024-12-16 23:59:59 (UTC)

How to join the campaign and supply USDT, USDC in the Morpho Pool?

1. Deposit or transfer USDT, USDC and ETH to your Binance Web3 Wallet by:

• Transferring funds from the Binance Exchange Wallet to the Binance Web3 Wallet using the [Transfer] button on the home screen of the Binance Web3 Wallet;
  or
• Sending USDT, USDC from an external wallet to your Binance Web3 Wallet using the [Receive] button. For more details, please refer to How to Send and Receive Tokens on Binance Web3 Wallet?

Please note that you must have some extra ETH (worth $10-20 in ETH) to cover the gas fees for supplying USDT and USDC tokens to Morpho.

2. To opt in to the campaign, go to the Morpho campaign page, tap [Join Now].

3. Log into your Binance Web3 Wallet and go to [Earn] - [Simple Yield]. Then tap [Protocols] - [Morpho] - [USDC] or [USDT].

To be eligible for the campaign rewards, you must supply a minimum of 100 USDT or USDC. The transaction cost is approximately 0.003 - 0.006 ETH. Please make sure you have a sufficient ETH balance in your Binance Web3 Wallet.

4. Tap [Supply Now], then read the Terms of Use and tap [Confirm]. Enter a minimum of 100 USDT or USDC, confirm the transaction cost, then tap [Next].

5. Check that the details are correct before tapping [Confirm] to sign the transactions.

6. Once complete, you’ll see a [Transaction Submitted] pop-up.

How to view my USDT or USDC position and withdraw from Morpho?

1. From the Binance Web3 Wallet, go to [Earn] - [Simple Yield], tap [USDT] - [Morpho] - [Redeem] to be redirected to the Morpho campaign page.

2. Connect your Binance Web3 Wallet.

3. View your position under [My Earn] and tap [Withdraw].

4. Enter the amount that you’d like to withdraw and tap [Finalize transactions]. Check that the details are correct before tapping [Confirm]. Tap [Sign] and [Confirm] to complete the transactions.