Binance Launches BFUSD with Zero Fees and 100,000 USDT in Rewards
Jessie A Ellis Nov 26, 2024 08:38
Binance introduces BFUSD, a reward-bearing margin asset, offering zero purchase fees and a share of 100,000 USDT in rewards for Futures traders.
In a strategic move to enhance its Futures offerings, Binance has announced the launch of BFUSD, a reward-bearing margin asset, aimed at providing additional benefits to active Binance Futures traders. According to Binance, BFUSD allows users to earn returns on qualifying balances in their Futures accounts and can also be utilized as margin in multi-asset mode Futures accounts.
Zero Fees and Attractive Rewards
Starting November 27, 2024, Binance users can purchase BFUSD without incurring any fees. This promotional offer is available to VIP 0 to VIP 9 users, with the zero-fee structure applicable within the specified holding limits based on each user’s VIP level. The promotion is set to run until December 26, 2024, providing ample time for users to take advantage of the offer.
In addition to zero purchase fees, Binance is offering several rewards. Users who buy and hold BFUSD in their Futures accounts can receive daily rewards with a Base Annual Percentage Yield (APY). Those who trade USDⓈ-M Futures daily will qualify for a higher Boosted APY.
Special Promotions and Bonuses
To celebrate the launch, Binance has introduced three promotional events. Eligible users who register for the promotion and meet the criteria can earn an additional 10% bonus APY on top of the Base or Boosted APY. This 10% bonus is limited to the first 1,000 BFUSD purchased per user, available on a first-come, first-served basis until the reward pool of 40,000 USDT is depleted.
Moreover, the first 9,000 users who meet the minimum BFUSD holding amounts will receive additional USDT rewards. A minimum purchase of 10 BFUSD is required to be eligible for these rewards, and the bonus APY is applicable for users who hold BFUSD for over 72 hours and complete at least one USDⓈ-M Futures trade during the promotion period.
BFUSD: A Strategic Asset
BFUSD is designed to provide stability and yield benefits, redeemable for USD stablecoins, ensuring a steady choice for crypto investors. Binance aims to enhance user experience by leveraging its hedging and investment strategies to fund reward amounts, with a robust BFUSD Reserve Fund of $1 million at launch.
Eligible users can purchase BFUSD through the Binance website or app by logging into their Binance account, accessing the Futures section, and selecting the BFUSD reward option.
Terms and Conditions
Participation in these promotions requires users to be verified and from eligible regions. Rewards are distributed on a first-come, first-served basis, with the USDT token vouchers being distributed within 14 working days post-promotion. Users must claim these vouchers within 30 days of distribution to avoid forfeiture.
Binance reserves the right to amend or cancel the promotions based on regulatory requirements or other significant reasons. Users are advised to remain informed about any restrictions related to accessing Binance Futures services.
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