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

Dear Binance Community,

Binance is excited to introduce a new promotion for users of Binance Loans (Flexible Interest Rate) to form teams and borrow USDT, FDUSD, or USDC. Eligible teams that meet the campaign requirements can receive USDC rewards covering interest for up to 7 days.

Program duration: 11:00 on 06/11/2024 (Vietnam Time) - 10:59 on 13/12/2024 (Vietnam Time)

How to participate

During the program period, the first 200 eligible teams that complete all of the following campaign requirements will qualify for rewards. Both the inviter and the invitee from each team will receive a reward covering interest for up to 7 days in the form of USDC rewards.

Eligible teams will be ranked based on the time the invitee places a loan order during the program. Rewards are calculated based on the total interest of valid Binance Loans (Flexible Interest Rate) of the participants during the program.

Campaign requirements:

  1. Place a new Binance Loans (Flexible Interest Rate) order worth at least 5,000 USD in USDT, FDUSD, or USDC and borrow for 25 consecutive days.

  2. Invite a new or existing Binance user to successfully place a new Binance Loans (Flexible Interest Rate) order worth at least 5,000 USD in USDT, FDUSD, or USDC and borrow for 25 consecutive days.

  3. To successfully form a team, the invitee must enter the referral ID of the inviter into the survey before the Program ends.

Note: To be eligible for 7 days of interest-free rewards in USDC, both the inviter and the invitee must place orders within the period from 11:00 on 06/11/2024 (Vietnam Time) to 10:59 on 18/11/2024 (Vietnam Time).

Packages available on Binance Loans (Flexible Interest Rate)

Valid interest-free loan amount for each user

(Amount for each Flexible Loan order)

Interest-free period

for each user

Maximum reward for each user

(Based on a loan amount of 10,000 USD and interest-free for 7 days)

5,000 - 10,000

7 days

40 USDC

Reward calculation method

To illustrate the reward calculation, we will use the following case study.

User A (the inviter) invites User B (the invitee) to participate in the campaign. During the program period, User A places a new loan order worth 10,000 USDC, and User B has borrowed 5,000 USDC. Both User A and User B maintain their loan positions for 25 days. Then, User B fills in User A's referral ID in the survey to indicate that User A and User B have successfully collaborated.

  • Reward for User A:

    • Estimated total interest (assuming an average interest rate of 9%): 10,000 * 9% * (25/365) = 61 USDC

    • Campaign reward: 61 * (7/25) = 17 USDC

  • Reward for User B:

    • Estimated total interest (assuming an average interest rate of 9%): 5,000 * 9% * (25/365) = 30 USDC

    • Campaign reward: 30 * (7/25) = 8 USDC

Place a Flexible Loan order now

Note:

  • The invitee should fill out the survey to register for the program for the team.

  • Each user can only participate in one team. Users in the same team can borrow different tokens.

  • The borrowing time of 24 hours is counted as one day.

  • Reward:

    • Rewards will be calculated based on the total interest of the eligible total amount borrowed during the program * (7/25), rounded to the nearest integer.

    • Rewards will be distributed in USDC to the eligible user's Spot Wallet within three (3) weeks after the campaign ends.

  • Please refer to Loan Data for the latest interest rates and a full list of borrowable assets and collateral.

  • Please visit the FAQ on Flexible Loans and Simple Earn Flexible Products to learn more. Users interested in VIP Loans can also contact Binance VIP's core customer management team via Telegram (@vip_loan_binance) for more information.

Terms and Conditions:

  • Only users who have completed the identity verification process are eligible to receive rewards.

  • This program is only available to users permitted to use Binance Loans (Flexible Interest Rate) and may not be available or may be restricted in certain jurisdictions or territories, depending on legal and regulatory requirements.

  • Terms and conditions apply to Binance Flexible Loans and Simple Earn.

  • Binance reserves the right to disqualify any participant who interferes with Binance's program code or disrupts the operation of Binance's program code with other software.

  • At its discretion, Binance reserves the right to revoke participation if a user engages in fraudulent behavior or fails to comply with any existing terms and conditions.

  • Binance has the full right to cancel or modify the program or the program rules.

  • Additional terms and conditions of the promotion are available here.

  • There may be differences between the original English version and translations. Please refer to the original English version for the most accurate information in case of any discrepancies.

Thank you for your support!

The Binance Team

06/11/2024

Disclaimer: USDC is a cryptocurrency 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.

Holders of USDC have the right to legal claims against Circle SAS as the issuer of USDC in the European Union. These holders have the right to request the conversion of their USDC from Circle SAS. Such conversion requests will be fulfilled at any time at face value.