Timothy Morano
Sep 3, 2024 03:51
Binance adds Toncoin (TON) to its Simple Earn Locked Products, offering up to 5.9% APR rewards during the promotional period.
Binance, one of the major cryptocurrency exchanges, has announced that it is adding Toncoin (TON) to its Simple Earn Locked Products. According to Binance, this new product will allow users to earn up to 5.9% APR rewards during the promotional period.
Mechanism of TON lock products
The subscription format for TON Locked Products operates on a first-come, first-served basis. Certain subscription amounts, limits, and term requirements apply, which affect the amount of APR rewards that users receive. The rewards calculation period begins at 00:00 (UTC) on the day after the eligible subscription for the Locked Product is completed, and continues until the end of the subscription period. Rewards are distributed daily.
How to get started with TON Lock products
- Go to the Earn section on Binance and search for TON.
- Choose your desired period and join TON to earn up to 5.9% APR every day.
Additional Information and Notes
- Users can view locked product subscriptions by going to Wallet > Earn > Easy Earn > Lock.
- The unlock period for locked products is 1 day.
- In the case of early redemption of Simple Earn Locked Products, assets are generally returned to the user’s Spot Account within 72 hours of the redemption request. However, delays may occur due to exceptional circumstances such as extreme market volatility or a large number of simultaneous redemption requests.
- For more information, 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 to provide users with more opportunities to grow their crypto assets. Binance continues to strengthen the platform’s appeal to a wider audience by adding TON to Simple Earn Locked Products.
Visit Binance to check the official announcement.
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