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Binance Simple Earn Launches BICO and IDEX Locked Products
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Simple Earn is launching BICO and IDEX on Locked Products. Complete subscriptions to BICO and IDEX Locked Products from 2023-03-31 12:00 (UTC) to start earning rewards.
- Subscription Format: First-come, first-served basis.
- Reward Calculation Period: From 00:00 (UTC) on the day after you subscribe to Locked Products, until the end of the subscription period.
- Rewards Distribution:
- BICO Locked Products: Rewards will be distributed on a daily basis.
- IDEX Locked Products: Rewards will be distributed once only, between 00:00 (UTC) and 04:00 (UTC) on the next day after the subscription expires.
Offered Products (Locked Products)
Digital Assets | Duration | Standard APR | Min. Locked Products Subscription Limit Per User | Max. Locked Products Subscription Limit Per User |
BICO | 30 Days | 1.90% | 0.01 BICO | 10,000 BICO |
60 Days | 2.40% | 0.01 BICO | 900 BICO | |
120 Days | 2.90% | 0.01 BICO | 100 BICO | |
IDEX | 30 Days | 3.20% in USDC | 0.01 IDEX | 60,000 IDEX |
60 Days | 4.60% in USDC | 0.01 IDEX | 3,000 IDEX | |
120 Days | 5.90% in USDC | 0.01 IDEX | 300 IDEX |
Notes:
- Users who complete subscriptions to BICO Locked Products will receive rewards in BICO tokens, while those who complete subscriptions to IDEX Locked Products will receive rewards in USDC tokens.
- Please note that while the rewards for BICO are distributed daily, the rewards for IDEX Locked Products will be distributed between 00:00 (UTC) and 04:00 (UTC) on the next day after the subscription expires.
- Please refer to Binance Simple Earn Terms & Conditions prior to using any products on the Binance Simple Earn platform.
- Binance Simple Earn will redeem the digital assets/digital currencies subscribed to Simple Earn Locked Products to Flexible Products at the end of the agreed subscription period. The value of digital assets/digital currencies fluctuates and is subject to change.
- Users can view their Locked Products subscriptions by going to Wallets > Earn > Simple Earn > Locked.
- Users can enable the “Auto-Subscribe” function before completing subscriptions to Locked Products, which will automatically renew their existing Locked Products position into a new position of the same duration upon expiry.
- Unlock period for Locked Products: One day.
- Locked Products FAQ.
- About early redemption for Simple Earn Locked Products: Users can choose to redeem their assets in advance. After choosing early redemption, digital assets will be returned to the spot account, and users will not be entitled to any rewards. Any distributed rewards will be deducted from the refunded principal. It may take 48-72 hours to receive the digital assets.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-03-31
Trade on the go with Binance’s crypto trading app (iOS/Android)
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. Binance will return digital assets to users’ spot account after the agreed period ends or upon early redemption. Binance does not guarantee that you will receive any specific reward, or any return over time. Not financial advice. For more information, see our Terms of Use and Risk Warning.
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