This is a general announcement and the products and services mentioned here may not be available in your area.

Dear User:

To celebrate the launch of Periodic Loans, Binance has launched an exclusive event. Borrowers and lenders can not only enjoy more borrowing and depositing options, but also have the opportunity to win 799 USDC and 100 USDC token voucher rewards respectively!

Event time: 13:00, September 19, 2024 to 07:59, October 12, 2024 (GMT+8)

Activity 1: Successfully borrow coins and win 799 USDC

During the event, users who successfully borrow at least USD 200,000 in regular loan orders will be ranked according to the total amount of borrowed currency (USD equivalent). The top ten eligible users will each win a 799 USDC token voucher.

Eligible loan orders include:

  • Complete a loan from an existing fixed-term loan order; or

  • Submit a new loan order and match successfully

Activity 2: Successfully lend and earn 100 USDC

During the event, users who successfully lend at least one regular loan order will be ranked according to the total amount of lending (equivalent to USD). The first 30 eligible users will each receive 100 USDC token vouchers.

Eligible lending orders include:

  • Complete the loan from an existing fixed-term loan order; or

  • Submit a new lending order and match successfully

How to use regular Binance borrowing:

Borrowing Currency:

  1. Place an order: Click [Place an order] - [I want to borrow funds] to set the loan information, or click the [Borrow] button next to the order you want to borrow in the loan market;

  2. Set collateral: Select eligible assets from your spot wallet as collateral to meet the initial collateralization ratio (LTV) requirements;

  3. Confirm the order: Review and confirm the order details and terms and conditions, and click [Confirm];

  4. Order matching: After the order is matched, your loan funds will be issued to your spot wallet after deducting the estimated interest. You can view the order details in [My Orders] - [Ongoing Orders];

  5. Repayment: Pay your loan in full by the due date to avoid interest penalties.

Lending:

  1. Place an order: Click [Place an order] - [I want to lend funds] to set the lending information, or click the [Lend] button next to the order you want to provide funds in the lending market;

  2. Confirm the order: Review and confirm the order details and terms and conditions, and click [Confirm];

  3. Order matching: After the order is matched, your loaned assets will be transferred from your spot wallet, and Binance will provide principal protection during the loan period. The income will start to accumulate after the order is successfully matched. You can view the order details in [My Orders] - [Ongoing Orders];

  4. Repayment: After the order expires, your loaned assets and the accumulated income during the loan period will be paid to your spot wallet within 24 hours after the expiration date.

立即使用币安定期借币!

For more information, please refer to Term Loan FAQ, Demand Loan FAQ and VIP Loan FAQ.

Notice:

  • Activity Rewards:

    • USDC rewards will be distributed in the form of token vouchers within three weeks after the event ends. Users can view and claim them in [Account] - [Reward Center]. Learn how to redeem token vouchers;

    • All distributed token vouchers are only valid for 30 days after distribution. Eligible users should claim the token voucher rewards within the validity period;

    • Each user can only receive one reward from the above activities, and sub-accounts cannot participate in the activity alone.

  • Borrower related:

    • Once a loan order is submitted, the borrower's collateral assets will be frozen in the spot wallet and cannot be transferred or traded. In the unmatched state, the collateral can be unlocked by canceling the order. Once the order is matched, the borrower's collateral will be automatically transferred from the spot wallet to the Binance collateral management account until the loan order is fully repaid;

    • The loan interest will be collected in advance when the loan assets are loaned out, and the actual amount received by the borrower is the amount of the loan minus the loan interest. If the loan is repaid in advance or liquidated before the order expires, the loan interest will remain unchanged and will not be refunded;

    • The borrower needs to monitor and adjust the collateralization ratio (LTV) immediately. If the borrowing order reaches the forced liquidation collateralization ratio, the system will immediately execute the forced liquidation and charge a forced liquidation fee of 2% of the loan amount;

    • If the borrower fails to repay the loan on time when the loan order expires, a late penalty of 3 times the interest will be automatically incurred, with interest calculated every hour.

  • Lender related:

    • After submitting a lending order, the assets that the lender wants to lend will be frozen in the spot wallet and cannot be transferred or traded. In the unmatched state, the assets to be lent can be unlocked by canceling the order;

    • After the order is matched, the loaned assets will be transferred from the lender's spot wallet, and Binance will provide principal protection management (coin-based) during the loan period. The lender cannot redeem or request early repayment before the order expires;

    • No interest income will be generated until the order is matched. Within 24 hours after the order expires, the income will be paid to the lender's spot wallet together with the loaned assets.

  • Users can view order details in the Regular Borrowing Orders>Ongoing Orders;

  • There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.

Thank you for your support!

Binance Team

September 19, 2024