Binance Wallet launches a no-lock interest-earning feature, providing up to 4.75% annualized rewards for holders of U, USDe, and USDS.
50 minutes ago
According to an official announcement, Binance Wallet has launched a no-lock interest-earning feature. Users who hold eligible stablecoins in their Binance Wallet and activate the feature can earn rewards without staking, locking funds, or interacting with smart contracts. Currently, three assets are supported: U, USDe, and USDS. U is supported on the BSC network with an estimated annualized reward of 1.5%; USDe is available on Ethereum with an estimated 4.75% annualized reward; USDS, also on Ethereum, offers an estimated 3.6% annualized reward. Binance noted that rewards begin accruing 24 hours after activation of the feature and holding eligible assets, with rewards accumulated daily and disbursed weekly. The rewards are funded by partner promotion campaign funds and do not stem from returns generated by the assets themselves. Furthermore, Binance Wallet will soon launch a U-based leaderboard campaign with a total prize pool of $150,000, to be distributed in U tokens.
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