Binance Adds New Loanable Assets: AUCTION, GMX, and LQTY - Blockchain.News

Binance Adds New Loanable Assets: AUCTION, GMX, and LQTY

Zach Anderson Jun 05, 2024 07:25

Binance introduces Auction, GMX, and Liquity as new loanable assets on its flexible rate loans.

Binance Adds New Loanable Assets: AUCTION, GMX, and LQTY

In a recent announcement, Binance has expanded its list of loanable assets on Binance Loans (Flexible Rate) by adding Auction (AUCTION), GMX (GMX), and Liquity (LQTY). This move is part of Binance's ongoing efforts to enhance its financial offerings and provide more options for its users, according to Binance.

New Loanable Assets Introduced

Binance Loans, known for its flexible rate product, now supports AUCTION, GMX, and LQTY as collateral. This addition allows users to leverage these cryptocurrencies for loans without committing to a specific term. The flexible rate feature offers real-time APR rewards via Simple Earn Flexible Products, providing greater flexibility and potential earnings for users.

Details and User Guidance

Users interested in utilizing these new loanable assets can refer to the Loan Data section on Binance for the latest interest rates and a comprehensive list of loanable and collateral assets. Additionally, to place new Binance Loans (Flexible Rate) orders, users must ensure their Binance App is updated to iOS v2.78.0 or Android v2.78.0 or later versions, as older app versions do not support these new orders.

About Binance Loans (Flexible Rate)

Binance Loans (Flexible Rate) is an open-term loan product that enables users to collateralize cryptocurrencies in existing Simple Earn Flexible Products subscriptions. Users benefit from the ability to borrow cryptocurrencies without a fixed loan term while earning real-time APR rewards. Loan rates are dynamically updated every minute, and users can place loan orders starting from a minimum of 1 USDT equivalent.

This recent addition of AUCTION, GMX, and LQTY as loanable assets is expected to attract more users to Binance Loans, offering them greater flexibility and more options for managing their crypto assets.

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