Binance has introduced a new stablecoin, BFUSD, offering an estimated annual percentage yield (APY) of 19.55%. With a total supply of 20 million BFUSD, this initiative aims to provide users with attractive, hassle-free earnings without the need to stake or lock up funds.
Users can hold BFUSD in their UM wallets and receive daily airdrops as rewards. THE crypto exchange‘s reward system calculates interest based on the lowest hourly BFUSD balance in users’ accounts, derived from hourly snapshots. Rewards will be distributed daily to UM Futures accounts and can be tracked in the Rewards History section.
Main Features of Binance BFUSD
1. Hassle-Free Earnings: Binance users earn daily rewards simply by holding BFUSD in their accounts.
2. High APY: The 19.55% APY exceeds the returns offered by many other stablecoins, making it a lucrative option for investors.
3. Use of collateral: BFUSD serves as collateral with a 100% collateral ratio in multi-asset mode, thereby enhancing trading potential.
Participation and quotas
Each user’s quota for holding BFUSD is determined by their VIP level, with additional details available in the Binance FAQ. BFUSD can only be purchased using USDT transferred to the UM wallet. To maximize rewards, users must redeem daily to activate the reward mechanism.
Reserve fund and guarantee
The system maintains a strong collateral rate of 105.54%, ensuring the stability of BFUSD. As of November 17, 2024, the reserve fund holds 1.1 million USDT, strengthening the credibility of the asset.
Boundaries
While main account users can fully benefit from the program, MiCA and PM users are limited to trading BFUSD without earning rewards.
Performance of BUSD and BNB
Currently, the crypto exchange’s leading stablecoin, BUSD, stands out with a market capitalization of $68.31 million. Additionally, following the announcement of the BFUSD launch, Binance Coin (BNB) price gained 0.70% to $621.94 on Monday, November 18.
With BFUSD, Binance strengthens its position as an innovator in the field of cryptocurrencies. Therefore, it provides high-yield opportunities to its users while driving stablecoin adoption.
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