Dear Users:
In response to growing user demand, Binance Leverage Platform will launch a special interest rate promotion for BTC, ETH, XRP, SOL, DOGE, OP, ARB, SHIB, LINK, and LTC borrowings starting 14:00 (UTC+8) on September 13, 2023.
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Promotion Period
From 14:00 (UTC+8) on September 13, 2023 to 14:00 (UTC+8) on September 25, 2023.
During this period, users borrowing any eligible cryptocurrency on Binance Leverage will automatically receive a 1-hour interest waiver.
How It Works
Interest is calculated hourly (e.g., at 13:00, 14:00). Under this promotion:
- If your borrowing period spans multiple hours, 1 hour of interest will be deducted.
- If you repay within the first hour, no interest is charged.
Example Scenario:
Users A and B borrow 10 BTC at 13:20 (UTC+8).
- User A repays at 14:15: Charged for 1 hour instead of 2.
- User B repays at 13:55: Zero interest (within the first hour).
Assuming BTC’s hourly rate is 0.001%:
- User A’s final interest:
0.001% × 10 BTC × (2 – 1) = 0.0001 BTC. - User B’s interest:
0.001% × 10 BTC × (1 – 1) = 0 BTC.
- User A’s final interest:
Key Features of Binance Leverage
- Dynamic Interest Rates: Adjusts based on market conditions.
- Flexible Trading: Support for long/short positions with real-time asset updates.
- Transparent Terms: Rates, collateral ratios, and eligible assets are displayed on the Leverage Data page.
Important Notes:
- Binance reserves the right to modify or terminate promotions without prior notice.
- Terms may vary by region; refer to the English version for definitive rules.
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FAQs
Q1: How is the interest waiver applied?
A: Automatically deducted from your total borrowing duration. No manual steps required.
Q2: Which cryptocurrencies qualify for this promotion?
A: BTC, ETH, XRP, SOL, DOGE, OP, ARB, SHIB, LINK, and LTC.
Q3: Can I combine this with other Binance promotions?
A: Unless specified otherwise, yes—check individual terms for conflicts.
Q4: What happens if I borrow before the promotion starts?
A: Only loans initiated during the promotion period are eligible.
Q5: How often does Binance update leverage rates?
A: Continuously, based on market liquidity and demand.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves risk.
Binance Team
September 13, 2023
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