Binance Introduces OMNI to Simple Earn Locked Products Offering 7.9% APR - Blockchain.News

Binance Introduces OMNI to Simple Earn Locked Products Offering 7.9% APR

Zach Anderson Jun 06, 2024 10:51

Binance adds OMNI to Simple Earn Locked Products with up to 7.9% APR rewards.

Binance Introduces OMNI to Simple Earn Locked Products Offering 7.9% APR

Binance, one of the world's leading cryptocurrency exchanges, has announced the addition of Omni (OMNI) to its Simple Earn Locked Products, according to the official Binance announcement. This move aims to offer users the opportunity to earn up to 7.9% APR rewards during the promotion period.

Promotion Details for OMNI Locked Products

The promotion period for subscribing to OMNI on Simple Earn Locked Products begins on June 6, 2024, at 10:00 UTC and ends on December 6, 2024, at 09:59 UTC. Subscriptions will follow a first-come, first-served basis with specific minimum and maximum subscription limits, as well as duration requirements, impacting the potential APR rewards.

The reward calculation for eligible subscriptions will start from 00:00 UTC the day after the subscription is completed and will be distributed on a daily basis until the end of the subscription period.

How to Subscribe to OMNI Locked Products

Users interested in participating can follow these steps:

  1. Navigate to the Earn section on Binance and search for OMNI.
  2. Select the desired duration and subscribe with OMNI to start earning up to 7.9% APR daily.

Additional Information and Considerations

Binance reserves the right to adjust APRs at any time after the promotion period without prior notice. Upon the end of the subscription period, Simple Earn will automatically redeem the digital assets to Flexible Products. Users can view their subscriptions by heading to Wallets > Earn > Simple Earn > Locked.

For those interested in enabling automatic renewals, the “Auto-Subscribe” function can be activated before completing the subscription to ensure the position renews into a new one of the same duration upon expiry.

Early redemption is also an option, although it means users will not be entitled to any rewards accrued during the period, and any distributed rewards will be deducted from the refunded principal. The redemption process may take 48-72 hours.

For more information, users are advised to refer to the Locked Products FAQ and the Binance Simple Earn Terms & Conditions.

It is important to note that digital asset prices are volatile, and the value of your investment may fluctuate. Users are solely responsible for their investment decisions, and Binance is not liable for any potential losses.

For the latest and most accurate information, users should refer to the original announcement on Binance.

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