Binance Launches DeFi Savings Feature that Includes Random DeFi Token Bonuses

By Abhimanyu Krishnan | News | 17 Aug 2020

On August 14, crypto exchange Binance launched a new savings product in a bid to attract users to DeFi. Users will receive a 14.8% APY rate on Binance savings, with random DeFi bonuses as an additional incentive. 

  • New product has a DeFi bonus on top, with random DeFi token handed out within 7 days of the event
  • Binance USD (BUSD), Tether (USDT) and USD Coin (USDC) has been added to Binance where 14 days products are available
  • Product has a subscription period of 1 day on a first come first serve basis
  • Interest is calculated for the time frame between the end of the subscription period and the end of the product period
  • Extra DeFi tokens are selected at random as bonuses from one of the following: COMP, MKR, SNX, BAL, LEND, REN, BNT, LRC, KNC, KAVA, RUNE and YFI
  • Value of DeFi token is based on the equivalent interest income per lot (lot sizes are in units of $1000)

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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