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Binance Introduces Toncoin (TON) to Simple Earn Locked Products - Blockchain.News

Binance Introduces Toncoin (TON) to Simple Earn Locked Products

Timothy Morano Sep 03, 2024 03:51

Binance adds Toncoin (TON) to its Simple Earn Locked Products, offering up to 5.9% APR rewards during the promotion period.

Binance Introduces Toncoin (TON) to Simple Earn Locked Products

Binance, one of the leading cryptocurrency exchanges, has announced the addition of Toncoin (TON) to its Simple Earn Locked Products. This new offering allows users to earn up to 5.9% APR rewards during the promotion period, according to Binance.

Mechanism on TON Locked Products

The subscription format for TON Locked Products operates on a first-come, first-served basis. Specific subscription amounts, limits, and duration requirements are in place, which will impact the amount of APR rewards users receive. The reward calculation period starts from 00:00 (UTC) on the day after an eligible subscription to Locked Products is completed and continues until the end of the subscription period. Rewards are distributed daily.

How to Get Started with TON Locked Products

  1. Navigate to the Earn section on Binance and search for TON.
  2. Select the desired duration and subscribe with TON to start earning up to 5.9% APR daily.

Additional Information and Notes

  • Users can view their Locked Products subscriptions by going to Wallets > Earn > Simple Earn > Locked.
  • The unlock period for Locked Products is one day.
  • For early redemption of Simple Earn Locked Products, assets are generally returned to the user's Spot Account within 72 hours after the redemption request. However, delays may occur due to exceptional circumstances like extreme market volatility or high volume of simultaneous redemption requests.
  • For more details, users can refer to the Locked Products FAQ.

This move is part of Binance's ongoing efforts to expand its range of financial products and services, providing its users with more opportunities to grow their crypto assets. By adding TON to Simple Earn Locked Products, Binance continues to enhance its platform's appeal to a broader audience.

For the official announcement, visit Binance.

Image source: Shutterstock