Binance Margin has unveiled a new promotional offer that provides a one-hour interest fee waiver for borrowing USDC and a selection of other cryptocurrencies. This promotion, which started on July 4, 2024, at 11:00 (UTC), will run until July 21, 2024, at 11:00 (UTC), according to Binance.
Promotion Details
During the promotion period, users who borrow any of the eligible cryptocurrencies on Binance Margin will automatically receive a one-hour interest fee waiver. The eligible assets for this promotion include USDC, BTC, ETH, SOL, BONK, DOGE, FLOKI, LISTA, PEPE, WIF, ZRO, and ZK.
For example, if User A and User B each borrow 10 BTC at 11:20 (UTC) on July 4, and repay at 12:15 (UTC) and 11:55 (UTC) respectively, the interest charged will differ significantly due to the promotion. Under standard circumstances, User A and User B would be charged for two hours and one hour of interest respectively. However, during the promotion period, User A will be charged only for one hour, and User B will not incur any interest charges.
Terms and Conditions
Participants in this promotion will be deemed to have accepted and be bound by the promotion’s terms and conditions. Key terms include:
- Interest on Binance Margin accrues at the start of every hour.
- Inventory availability operates on a first-come, first-served basis, and Binance cannot guarantee inventory will always be available.
- Binance reserves the right to disqualify any participants who tamper with the Binance program code or interfere with its operation.
- Binance reserves the right to disqualify trades deemed to be wash trades, illegal bulk account registrations, self-dealing, or display signs of market manipulation.
- Binance reserves the right to amend or vary the terms and conditions, eligibility criteria, and the selection and number of winners.
Additional Information and Resources
For more details on the dynamic interest rate system for Binance Margin trading, users can refer to Binance’s official documentation. Additionally, the latest information on marginable assets, specific limits, collateral ratios, and rates can be found on the Binance Margin fee page.
Binance has emphasized that digital asset prices are subject to high market risk and price volatility. The company advises users to make informed investment decisions and consult independent financial advisors.
For further details, visit the official Binance announcement.
Image source: Shutterstock
