This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
To celebrate the latest upgrade on Binance Loans (Flexible Rate), Binance is introducing a new giveaway for Binance Loans (Flexible Rate) users. Eligible users who repay their existing legacy Binance Loans (Flexible Rate) orders and complete new Binance Loans (Flexible Rate) orders during the promotion period, will stand a chance to share 20 iPhone 15 & 4,000 FDUSD in rewards.
Promotion Period: 2024-04-12 12:00 (UTC) to 2024-04-19 23:59 (UTC)
During the promotion period, users who fulfill both of the following requirements will be eligible to participate:
Repay a total of at least $1,000 equivalent for any outstanding legacy Binance Loans (Flexible Rate) order(s), and
Apply for new Binance Loans (Flexible Rate) order(s) that are worth a total of at least $500 equivalent.
Depending on users’ total repayment amount for any outstanding legacy Binance Loans (Flexible Rate) order(s) and their total borrowing amount in any new Binance Loans (Flexible Rate) order(s) during the promotion period, eligible participants may qualify for either Tier 1 or Tier 2 rewards based on the timing when they qualify for the respective tier, as per the table below.
Rewards Structure
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 Products subscriptions. Users may enjoy greater flexibility without committing 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:
Terms & Conditions:
To place new Binance Loans (Flexible Rate) orders via the Binance App, please upgrade the App to iOS v2.78.0 or Android v2.78.0, or later. Older app versions no longer support the placement of new Binance Loans (Flexible Rate) orders.
Binance will close all outstanding legacy Binance Loans (Flexible Rate) orders under the [Flexible Rate (Legacy)] tab at 2024-04-24 03:00 (UTC) and waive the corresponding liquidation fees. We strongly advise you to repay any outstanding legacy Flexible Rate orders under the [Flexible Rate (Legacy)] tab before 2024-04-24 03:00 (UTC) to avoid any potential losses, where applicable.
Flexible term and fixed term orders on VIP Loan are not impacted by the recent upgrade on Binance Loans (Flexible Rate). Refer to this announcement for more information.
Reward Distribution:
Binance will use $799 as the retail price of the iPhone 15 (128GB), as listed on the Apple US website on 2024-04-10, and reward eligible users with a 799 FDUSD token voucher each. The reward does not include taxes, shipping fees, or any other additional fees.
Token voucher rewards will be distributed within three weeks after the promotion ends. Users can login and redeem their token voucher rewards via Profile > Rewards Hub.
All the distributed token vouchers will expire within 30 days after distribution. Eligible users should claim their voucher rewards before the expiration date. Learn how to redeem a token voucher.
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
2024-04-12
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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.
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