This is a general announcement and marketing message. Products and services mentioned here may not be available in your region.

Dear members of the Binance community!

To celebrate the launch of Fixed Rate Loans, Binance is excited to launch a new promotion that provides borrowers and funders with enhanced liquidity management options and a chance to win USDC 799 and USDC 100 in token vouchers, respectively .

Promotion period: from September 19, 2024, 08:00 (Kyiv time) to October 12, 2024, 02:59 (Kyiv time)

Promotion A: Take out a fixed rate loan to win 799 USDC

During the Promotion Period, users who borrow a total of at least $200,000 USD equivalent under fixed rate loan terms will be ranked by total USD equivalent loan amount. Ten eligible winners will receive USDC 799 vouchers each.

The following fixed-rate loan orders take part in the promotion:

  1. loans from existing supply orders; 

  2. new loan orders matched with supply orders.

Promotion B: Supply Fixed Rate Loans to Earn 100 USDC

During the Promotion Period, users who complete at least one delivery order under the terms of the Fixed Rate Loan will be ranked by the total USD equivalent amount offered. 30 eligible winners will receive USDC 100 vouchers each.

The following fixed-rate supply orders participate in the promotion:

  1. supply for existing loan orders; 

  2. new supply orders matched with loan orders.

How Binance Fixed Rate Loans Work

To get a fixed rate loan:

  1. Place an order. Click [Place order] > [I want to borrow] to place an order and specify the borrowing details, or click [Borrow] next to the desired order in the borrowing market.

  2. Configure provisioning. Select appropriate assets from your spot wallet as collateral against the initial loan-to-value ratio requirements. 

  3. Confirm the order. Review and confirm the order details and terms and conditions by clicking [Confirm].

  4. Comparison of the order. After matching the order, the borrowed funds minus pre-calculated interest will be transferred to your spot wallet. You can check the status of your order in [My Order] > [Current Order].

  5. Repayment Pay off the loan in full before the due date to avoid late fees.

To lend funds at a fixed rate:

  1. Place an order. Click [Place Order] > [I want to supply] to place an order and provide the details for the provision of funds, or click [Deliver] next to the desired order in the supply market.

  2. Confirm the order. Review and confirm the order details and terms and conditions by clicking [Confirm].

  3. Comparison of the order. When your order is matched, your supply funds will be transferred from your spot wallet and the principal will be secured in Binance for the duration of the order. Profit interest will start to accrue from the moment of matching. You can check the status of your order in [My Order] > [Current Order].

  4. Repayment Within 24 hours after the loan expires, the assets you loaned and the interest will be transferred to your spot wallet. You can check your assets in the spot wallet.

Start using Binance Fixed Rate Loans today!

For more information, see the guides on Fixed Rate Loans, Flexible Loans and VIP Loans

Notes:

  • Please read the Terms and Conditions of Use before placing orders on the Binance Fixed Rate Loan Platform.

  • Rewards: 

    • Eligible users will receive USDC token vouchers 3 weeks after the campaign ends.  

    • Users can login to the account and activate their token voucher through Account > Rewards Hub. Learn how to activate a token voucher.

    • All token vouchers distributed will expire within 30 days of distribution. Eligible users must activate their vouchers before they expire. 

    • Each user can receive a maximum of one reward in these promotions. Each sub-account will not be treated as an independent account for participation in this promotion.

  • About USDC:

    • USDC is an electronic money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). The USDC Whitepaper can be found here. You can contact Circle using the following contact information: +33(1)59000130 and EEA-Customer-Support@circle.com. 

    • USDC holders have the right to bring legal action against Circle SAS as the issuer of USDCs in the EU. These holders are eligible to redeem their USDCs from Circle SAS. Such a redemption can be made at any time and at a nominal value.

  • For the borrower:

    • After placing a borrowing order, the Borrower's collateral assets will be frozen in his spot wallet and cannot be transferred or sold. If the Borrower wants to unblock them, the Borrower must cancel the order that has not yet been matched. After the order is matched, the collateral assets will be automatically transferred from the Borrower's spot wallet and held by Binance until the loan is fully repaid.

    • Interest on the loan is accrued in advance when the loan assets are transferred. The actual amount received by the Borrower is the amount of the loan minus pre-calculated interest on the loan. If the Borrower repays the loan early or the loan is liquidated before the expiration date, the amount of Interest on the loan due will remain unchanged and will not be returned to the Borrower. 

    • Borrowers are responsible for monitoring and adjusting their LTV (Loan to Value Ratio). If the Borrower's order reaches the liquidation LTV, the system will immediately perform a forced liquidation. A liquidation fee of 2% of the loan amount will be charged.

    • Be sure to pay off your loans on time. If the Borrower is unable to repay the loan on the agreed due date, a Late Repayment Fee is automatically charged every hour. 

  • For the supplier:

    • After placing an order for the supply of funds, the relevant assets of the Provider will be frozen in the spot wallet and will not be able to be transferred or sold. If the Provider wishes to unblock them, the Provider must cancel the order that has not yet been matched. 

    • Once the order has been matched, the relevant Provider assets will be transferred from the spot wallet and Binance will protect their principal amount for the duration of the loan. The provider cannot return the borrowed assets before the expiration date or require early repayment.

    • No interest will accrue until your order is matched. Accumulated profit interest will be distributed along with the return of the assets you provided within 24 hours of the expiration date.

  • Users can view their orders under "Fixed Rate Loan Orders> Current Orders".

  • There may be discrepancies in the English translation of this original article. Please refer to the original English version for the latest or most accurate information in case of inconsistencies.

Thank you for your support!

Binance Team

19.09.2024