This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Simple Earn launched two promotions for FIL Simple Earn Flexible Products and ETH Simple Earn Fixed Rate Locked Products! During the Promotion Period, users who subscribe to FIL Simple Earn Flexible Products and ETH Simple Earn Fixed Rate Locked Products are eligible to win up to 799 USDC token voucher rewards, while enjoying promotional APR rates.
Promotion Period: 2024-09-19 00:00 (UTC) to 2024-10-31 23:59 (UTC)
Subscription Format: Complete subscription on a first-come, first-served basis in accordance with the terms below.
Rewards Distribution:
Bonus Tiered APR: Distributed to users’ Spot Wallets on a daily basis.
Real-Time APR: Accrued and directly accumulated in users’ Earn Wallets every minute.
Fixed APR: The fixed rate will remain the same through the entire locked term. For fixed rate, any available changes to the APR will only apply to your new, and not existing, ETH Locked Product subscriptions. Distributed to users’ Spot Wallets on a daily basis. The first reward will be given the day after accrual starts (two days after subscription).
Promotion Period: 2024-09-19 00:00 (UTC) to 2024-10-18 23:59 (UTC)
During the Promotion Period, users who fulfill the following requirements will be eligible to participate:
All eligible users will then be ranked by their net eligible subscription amount* during the Promotion Period. The top 15 users will qualify to share the following rewards, listed in the table below.
Please Note:
Net subscription amount = (Total amount of assets subscribed to FIL Flexible Products and/or ETH Locked Products - Total amount of assets redeemed from FIL Flexible Products and/or ETH Locked Products)
If two or more eligible users have the same net eligible subscription amount, they will be ranked based on their subscription timing.
Users who redeem existing Simple Earn positions created before the Promotion only to recreate the same Simple Earn positions during the Promotion Period, will have a net Simple Earn Products subscription amount equivalent to zero.
ETH Staking positions will not count toward the calculations of users’ net Simple Earn Locked Products subscription amounts. Only ETH Simple Earn 60-day and 90-day Locked Products and FIL Flexible Products are eligible for these Promotions.
How to Get Started with Flexible and Locked Products:
Buy ETH or FIL on the ‘Spot Market’, or via the 'Buy Crypto (ETH or FIL)' pages, which supports payment methods including Visa and Mastercard cards, Apple Pay, Google Pay, and wallet balances. Users can also deposit FIL or ETH to their Binance account.
Head to [Simple Earn], and search for FIL or ETH.
Select FLEXIBLE, 60-Day or 90-Day, and subscribe to FIL Simple Earn Flexible Products and ETH Simple Earn Fixed Rate Locked Products to start earning rewards!
Terms & Conditions:
Changes to the Simple Earn Rewards Rate will be published on the Platform from time to time. Please refer to Binance Simple Earn Terms & Conditions and Risk Warning for more information prior to using Simple Earn.
Binance Simple Earn will redeem the digital assets/digital currencies locked in the ETH Simple Earn Locked Products subscriptions to ETH Simple Earn Flexible Products at the end of the agreed subscription period.
Rewards:
Promotion A:
Bonus Tiered APR is offered as an additional reward on top of Real-Time APR. Upon subscription, Bonus Tiered APR rewards start to accrue the next day starting from 00:00 (UTC). Rewards will start to be distributed the following day after accrual starts between 00:00 (UTC) and 08:00 (UTC) to the user’s Spot Wallet.
All users who hold open positions for FIL Flexible Products will receive both Real-Time APR and Bonus Tiered APR rewards during the Promotion Period. Once the promotion ends, users will be entitled to Real-Time APR rewards only.
Bonus Tiered APR rewards are calculated based on the subscribed amounts and are subject to the respective tier limit for each token. Please refer to the FAQ for more details.
Fixed APR: The fixed rate will remain the same through the entire locked term. For fixed rate, any available changes to the APR will only apply to your new, and not existing, ETH Locked Product subscriptions.Reward Calculation Period: From 00:00 (UTC) on the day after you subscribe to Locked Products, until the end of the subscription period.
Promotion B:
USDC rewards will be distributed in token voucher within three weeks after the end of the promotion B. Users can login and redeem their token voucher rewards via Profile > Rewards Hub. Learn how to redeem a token voucher.
All the distributed token vouchers will expire within 30 days after distribution. Eligible users should claim their voucher rewards before the expiration date.
The assets you deposit in Simple Earn may be loaned to other Binance users (e.g., Margin and Crypto Loan products).
A large amount of redemption requests might delay redemption temporarily. Redemptions may resume upon return of liquidity.
Users can view their Flexible and Locked Products assets by going to Wallets > Earn > Simple Earn.
Redemption time for Flexible Products subscriptions: Instant; Unlock period for Locked Products: One day.
Early Redemption: Users may early redeem Simple Earn Locked Products, but all rewards received will be forfeited. The full balance of the locked assets, minus any rewards distributed during the term, will be returned to users’ Spot Wallet within 72 hours. However, in the case of exceptional circumstances the return of such assets may be delayed further. Please see our terms and risk warning for more details.
Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.
Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.
Additional promotion terms and conditions can be accessed here.
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.
Thank you for your support!
Binance Team
2024-09-19
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
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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 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.
