Jessie A. Ellis
November 26, 2024 08:38
Binance introduces BFUSD, a rewarded margin asset that offers futures traders zero purchase fees and a reward of 100,000 USDT.
In a strategic move to strengthen its futures offering, Binance announced the launch of BFUSD, a rewarded margin asset aimed at providing additional benefits to active Binance Futures traders. According to Binance, BFUSD allows users to earn profits from eligible balances in their futures accounts and can also be utilized as margin in multi-asset mode futures accounts.
Zero commissions and attractive rewards
Starting November 27, 2024, Binance users will be able to purchase BFUSD commission-free. This promotional benefit is provided to VIP 0 to VIP 9 users, and the commission is applied free of charge within the retention limit specified according to each user’s VIP level. The promotion will run until December 26, 2024, giving users ample time to take advantage.
In addition to no purchase fees, Binance offers a variety of rewards. Users who buy and hold BFUSD in their futures accounts can earn daily rewards with an annual percentage yield (APY). Those who trade USDⓈ-M futures daily can earn 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 their 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 rewards pool of 40,000 USDT is exhausted.
Additionally, the first 9,000 users who meet the minimum BFUSD holdings will receive additional USDT rewards. To receive these rewards, you must purchase at least 10 BFUSD, and the bonus APY applies to users who have held BFUSD for more than 72 hours and completed at least one USDⓈ-M futures trade during the promotion period.
BFUSD: Strategic Asset
BFUSD is designed to provide stability and yield benefits redeemable by USD stablecoins, making it a consistent choice for cryptocurrency investors. Binance aims to enhance user experience by leveraging hedging and investment strategies to raise reward amounts through a $1 million strong BFUSD reserve fund 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 Rewards option.
Terms of Use
To participate in these promotions, users must be verified and reside in an eligible location. Rewards will be distributed on a first-come, first-served basis, and USDT token vouchers will be distributed within 14 business days of the promotion. To avoid forfeiture, users must request their voucher within 30 days of distribution.
Binance reserves the right to modify or cancel the promotion based on regulatory requirements or other important reasons. Users are advised to remain aware of any restrictions related to accessing Binance Futures services.
Image source: Shutterstock