This is a general announcement and marketing communication. The products and services mentioned here may not be available in your region.

Halo Binancian,

To celebrate the launch of Fixed Rate Loans, Binance is excited to launch a new promotion that provides borrowers and providers with additional liquidity options, as well as a chance to win token vouchers worth 799 USDC and 100 USDC respectively.

Promotion Period: 19-09-2024 at 12.00 WIB to 12-10-2024 at 06.59 WIB

Promotion A: Borrow from Fixed Rate Loans to Win 799 USDC

During the Promotion Period, users who borrow at least $200,000 in total equivalent on Fixed Rate Loans will be ranked based on their total borrowed amount in USD Equivalent. Then, the top ten eligible participants will be eligible to receive a token voucher worth 799 USDC each.

A loan order for a Fixed Interest Rate Loan that meets the conditions includes:

  1. Borrowing from existing supply orders, or

  2. Placing a matched loan order

Promotion B: Supply to Fixed Rate Loans to Earn 100 USDC

During the promotion period, users who complete at least one supply order on Fixed Rate Loans will be ranked based on their total supply in USD Equivalent. Then, the top 30 qualified participants will be eligible to receive a token voucher worth 100 USDC each.

Supply orders for eligible Fixed Rate Loans include:

  1. Supply to existing loan orders, or

  2. Placing a new matched supply order

How Binance Fixed Rate Loans Work:

To Borrow a Fixed Rate Loan:

  1. Place Order: Click [Place order] - [I want to Borrow] to place an order to set loan information or click [Borrow] next to your preferred order in the "Loan Market" section.

  2. Set Collateral: Select eligible assets from your Spot Wallet as collateral to meet the Initial LTV (Loan-to-Value) requirement.

  3. Order Confirmation: Review and confirm the order details and Terms & Conditions, then click [Confirm].

  4. Order Matched: Once the order is matched, your loan funds minus the pre-calculated interest will be transferred to your Spot Wallet. Check the order status in [My Orders] - [Ongoing Orders].

  5. Repayment: Repay the loan in full before the expiration date to avoid Late Fees.

To Provide a Fixed Rate Loan:

  1. Place Order: Click [Place order] - [I want to Supply] to place an order to set supply information or click [Supply] next to your preferred order in the Supply Market section.

  2. Order Confirmation: Review and confirm the order details and Terms & Conditions, then click [Confirm].

  3. Matched Order: Once an order is matched, the funds you provide will be transferred from your Spot Wallet and the principal will be protected by Binance for the duration of the order. Return Interest starts accruing upon matching. Check the order status in [My Orders] - [Ongoing Orders].

  4. Repayment: Once the loan ends, your loan assets and Return Interest will be sent to your Spot Wallet within 24 hours after the expiration date. Check your assets in your Spot Wallet.

Get Started with Binance Fixed Rate Loans Today!

For more information, please read Fixed Rate Loan FAQ, Flexible Loan FAQ, and VIP Loan FAQ.

Notes:

  • Please read Binance Fixed Rate Loan Terms and Conditions before placing any orders on the Binance Fixed Rate Loan platform.

  • Reward: 

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

    • Users can log in and redeem their token voucher rewards via Profile > Reward Hub. Learn how to redeem token vouchers.

    • All distributed token vouchers will expire within 30 days of distribution. Eligible users must claim the voucher before the expiration date.

    • Each user can only receive a maximum of one reward from this promotion. Each sub-account will not be considered an independent account when participating in this Promotion.

  • About USDC:

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

    • USDC holders have a legal claim against Circle SAS as the issuer of EU USDC. These holders have the right to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.

  • For Borrowers:

    • Once a Loan Order is placed, the Borrower’s collateral will be frozen in their Spot Wallet and cannot be transferred or traded. If the Borrower wants to release it, they will need to cancel the order in unmatched status. Once the order is matched, your collateral will be automatically transferred out of your Spot Wallet and held by Binance until the loan is fully repaid.

    • Loan Interest is charged upfront when the loan asset is transferred. The actual amount received by the Borrower is the loan amount minus the previously calculated Loan Interest. If the Borrower pays off the loan in advance or the loan is liquidated before the loan term ends, the amount of Loan Interest payable on the loan will not change and will not be returned to the Borrower.

    • The Borrower is responsible for monitoring and adjusting the LTV (Loan-to-value). If the Borrower's order reaches the Liquidation LTV, the system will immediately execute a forced liquidation. A liquidation fee of 2% of the loan amount will be charged.

    • Please make your repayments on time. Late Fees will be added automatically per hour if the Borrower fails to repay the loan by the agreed loan expiry date.

  • For Providers:

    • Once a Supply Order is placed, the Provider’s corresponding Supply assets will be frozen in their Spot wallet, making them untransferable or untradeable. If the Provider wants to release them, they must cancel the order in unmatched status.

    • Once the order is matched, the Provider’s supply assets will be transferred from their spot wallet and the principal will be protected by Binance for the duration of the order. Providers cannot redeem the loaned assets before the expiration date or request early repayment.

    • Interest will not be collected until the order is matched. The collected return interest will be distributed along with the return of the assets you supplied within 24 hours after the Expiration Date.

  • Users can view their orders by going to Fixed Interest Loan Orders > Ongoing Orders.

  • There may be differences between the translated version and the original article in English. Please refer to the original version for the most current and accurate information if any differences arise.

Thank you for your support!

Tim Binance

19-09-2024