Binance Launches FDUSD Locked Products with 16.2% Fixed APR

Binance has announced a new promotional offer for its FDUSD Fixed Rate Locked Products, providing an attractive 16.2% Annual Percentage Rate (APR) for eligible users. This initiative, driven by heightened user demand, will be available from October 23, 2024, until November 5, 2024, according to Binance.

Promotion Details

The subscription to FDUSD Locked Products is limited and operates on a first-come, first-served basis. The locked term for these products is set at 14 days, during which the fixed APR remains constant. Users can expect to receive their rewards daily, directly into their Spot Wallet. However, if users opt for early redemption, they will forfeit all accrued rewards, although the principal will be returned within 72 hours, subject to potential delays under exceptional circumstances.

How to Participate

To take advantage of this offer, users must first acquire FDUSD through Binance's Spot market or the Buy Crypto page, which supports various payment methods such as Visa, Mastercard, Apple Pay, Google Pay, and wallet balances. Once acquired, users can navigate to the Simple Earn section on Binance, select the 14-day option, and subscribe to the FDUSD Locked Products to start earning the 16.2% APR.

About Binance Simple Earn

Binance Simple Earn allows users to earn rewards by depositing digital assets for either flexible or locked terms. It provides flexibility and liquidity, enabling users to subscribe or redeem assets almost at any time. However, the promotion is subject to jurisdictional limitations and may not be available to all users.

Additional Considerations

Binance has clarified that the APR rewards originate from its own funds and are evaluated based on current market conditions. The promotion is not affiliated with the issuer of FDUSD. Users should be aware that high redemption requests could delay the process, and Binance reserves the right to modify the promotion terms or disqualify participants acting fraudulently or not in accordance with the terms.

For more comprehensive details, users are encouraged to review Binance's Terms & Conditions and Risk Warnings. The company also notes that any discrepancies between English and translated versions of the announcement should default to the English version for accuracy.