The leading Cryptocurrency exchange Binance announced the launch of second phase of lending program. The new lending program offers 14-days and 28-days fixed lending plans.
The lending phase will start at 2019/09/04 6:00 AM (UTC). Binance added new products in the lending program. Along with BNB, USDT, Ethereum Classic (ETC) Binance added BTC, ETH and ADA.
The interest rates for bitcoin is set to 3% annual for 14-days period and 3.25% annual for 28-days period. The annualized interest rate for ETH 14-days period is set to 6%. Binance also updated the interest rates for BNB, USDT and ETC.
The details of lending program are below:
- Subscription Format: First Come First Serve
- Subscription Period: From 2019/09/04 6:00 AM (UTC) to 2019/09/05 0:00 AM (UTC).
- Interest are calculated from 2019/09/05 0:00 AM (UTC)
- Interest will be paid right after the maturity of the lending plan
Lending Product Details (Subscribe now)
Example:
If User A subscribes to 10 lots of BNB (28 days) Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.076712 BNB * 10 = 0.76712 BNB.
Note
- Binance will include the BNB amount that is locked in lending program for the calculation of lottery tickets of next IEO
- Refer here for the Binance Lending User Guide;
Please refer to Binance Terms of Use prior to using any products on the Binance Lending platform.