Jesse Ellis
26 November 2024 at 08:38
Binance offers BFUSD, a reward-bearing margin asset, offering zero buy-in fees and a stake of 100,000 USDT as rewards to futures traders.
In a strategic move to enhance its futures offering, Binance announced the launch of BFUSD, a reward-carrying margin asset, aimed at providing additional benefits to active Binance Futures traders. according to BinanceBFUSD allows users to earn returns on eligible balances in their futures accounts and can also be used as margin in multi-asset futures accounts.
No fees and attractive bonuses
As of November 27, 2024, Binance users can purchase BFUSD without incurring any fees. This promotion is available to VIP 0 to VIP 9 users, with a zero fee structure applied within specific retention limits based on each user's VIP level. The promotion is scheduled to last until December 26, 2024, providing enough time for users to take advantage of the offer.
In addition to the zero purchase fees, Binance offers several bonuses. Users who buy and hold BFUSD in their futures accounts can earn 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 offered three promotional events. Eligible users who sign up for the promotion and meet the criteria can receive 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, and is available on a first-come, first-served basis until the 40,000 USDT bonus pool is exhausted.
Furthermore, 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 APY bonus applies to users who hold BFUSD for more than 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 against USD stablecoins, ensuring a stable option for cryptocurrency investors. Binance aims to enhance the user experience by leveraging its proprietary 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 verification of users' identity and eligible regions. Rewards are distributed on a first-come, first-served basis, with premium USDT vouchers distributed within 14 business days after the promotion. Users must claim these coupons within 30 days of distribution to avoid forfeiture.
Binance reserves the right to modify or cancel promotions based on regulatory requirements or other important reasons. Users are advised to stay informed of any restrictions regarding access to Binance Futures services.
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