Fellow Binancians,
Binance is pleased to announce that we will lower the 30-Day Daily Average Net Borrowing Volume requirement for VIP 1 - VIP 4 users in the VIP Borrower Program by up to 33.33%, starting from 2023-06-01 00:00 (UTC).
To qualify for a VIP upgrade under the program now, users have to meet the new 30-Day Daily Average Net Borrowing Volume and Daily Average BNB Balance requirements specified in the table below.
VIP Borrower Program Requirements:
Highlights of the VIP Borrower Program:
Users who meet the 30-Day Daily Average Net Borrowing Volume and Daily Average BNB Balance thresholds will be automatically upgraded to the corresponding VIP level daily, if the VIP Borrower Program qualifies them for a higher VIP level than their current standing. There is no need for users to apply for the program.
For Margin:
For VIP Loan:
There is no borrowing limit for VIP Loan as long as users comply with the required risk ratios. However, all borrowing is subject to availability.
VIP Loan collateral in the Spot Wallet can be freely traded in the spot market as long as users comply with the relevant Loan-to-Value (LTV) and risk ratios. To learn more about risk ratios for VIP Loan, please contact us via Telegram at @vip_loan_binance.
Notes:
A user’s VIP level will be determined by the Binance VIP sub-program(s) they are eligible for. If their Spot or Futures trading volume qualifies them for a higher VIP level, or they qualify for a higher VIP level under another Binance VIP sub-program, the highest VIP level shall apply, and their VIP level shall not be impacted by the VIP Borrower Program.
30-Day Daily Average Net Borrowing Volume will count net borrowing volumes from Crypto Loans, VIP Loan, and Margin (i.e., Daily Average Net Borrowing Volume on Crypto Loans in the last 30 days + Daily Average Net Borrowing Volume on VIP Loan in the last 30 days + (Daily Average Net Borrowing Volume on Margin in the last 30 days * 0.2)).
Net Borrowing Volume = Total Volume Borrowed - Total Volume Repaid.
A 0.2 multiplier is applied to volumes from Margin borrowing in the calculation of the 30-Day Daily Average Net Borrowing Volume. Borrowing volumes from Crypto Loans and VIP Loan are calculated in full.
The USDT equivalent of assets borrowed from Crypto Loans, VIP Loan, and Margin will be used to calculate the 30-Day Daily Average Net Borrowing Volume.
A daily snapshot of users’ Daily Average BNB Balance and 30-Day Daily Average Net Borrowing Volume will be taken at 23:59:59 (UTC) using the real-time USDT exchange rate. Users will be upgraded to a higher VIP level on the next day at 00:00 (UTC), if applicable.
The Daily Average BNB Balance requirement for the VIP Borrower Program is unchanged. For more information, read the Daily Average BNB Balance Calculation rules.
Users may be removed from the VIP Borrower Program if their 30-Day Daily Average Net Borrowing Volume or Daily Average BNB Balance falls below the minimum thresholds of 100,000 USDT equivalent and 25 BNB respectively.
Please visit Binance Institutional to check your current VIP level.
Learn more about how to become a Binance VIP.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-05-31
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
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Binance reserves the right in its sole discretion to amend or change this announcement at any time and for any reasons without prior notice.
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