Binance, one of the leading cryptocurrency exchanges, recently made several important announcements affecting its margin trading and staking platforms. These updates include the addition of a new loanable asset like GFT, changes to DeFi Staking support, and an attractive promotion for users joining Simple Earn Flexible Products. Here are the details…
Exchange expands margin transactions: GFT, COS, SYS added
Binance has expanded its horizons by introducing GFT as a new borrowable asset on both Cross Margin and Isolated Margin. In addition, users can explore new trading pairs on Cross Margin such as COS/USDT, GFT/USDT and SYS/USDT. This expansion aims to offer users greater flexibility and a wider range of options in the margin trading environment.
There is a change in DeFi staking support
Effective December 5, 2023, 09:00 UTC, Binance DeFi Staking will no longer support BTC and ETH in Flexible DeFi Staking. Users are recommended to redeem their assets before the specified date. It is important to note that these changes only apply to Binance DeFi Staking and will not affect offers on Binance ETH Staking. Settlement of outstanding subscriptions will occur immediately and the relevant assets will be returned to users’ Spot wallets on the same day.
AVAX promotion on Simple Earn
Binance Simple Earn is offering a limited-time promotion for AVA on Simple Earn Flexible Products, offering users Real-Time APR rewards plus special Bonus Tiered APR of up to 6%. The promotion period covers between December 12, 2023 and February 28, 2024. Users can subscribe to a variety of Flexible Products with different durations, each offering its own unique APR during the promotional period.
These announcements reflect Binance’s commitment to continuously improving user experience and providing innovative opportunities in the ever-evolving cryptocurrency landscape. Users are encouraged to stay informed about these changes and take advantage of the exciting promotions offered.
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