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Binance Launches VIP Margin Trading Promo with USDT and Apple Vision Pro Rewards | IDOs News

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Binance introduces a VIP Margin Trading Promotion offering up to 5,000 USDT, an Apple Vision Pro, and exclusive event invites for increasing trade volume.

Binance, the global cryptocurrency exchange, has announced an enticing VIP Margin Trading Promotion aimed at incentivizing its regular and VIP users to increase their trading volume on the platform. The promotion promises a share of 81,000 USDT in rewards, the chance to win an Apple Vision Pro, and exclusive invitations to Binance VIP offline events, making it a notable event for traders and crypto enthusiasts.

The promotion period is set from March 14, 2024, at 06:00 UTC to April 18, 2024, at 23:59 UTC. Participants are required to register on the promotion page and must increase their total margin trading volume during the promotion period compared to the “Comparison Period,” which spans from February 5, 2024, to March 13, 2024.

Promotion A: Trading Volume Rewards and VIP Invites

Promotion A is designed to boost margin trading volumes with trading fee rebate vouchers and VIP event invites as rewards. The trading fee rebate vouchers range from 300 USDT to 5,000 USDT, depending on the increase in margin trading volume, with rewards distributed on a first-come, first-served basis. All participants meeting the minimum requirements will receive invitations to Binance VIP offline events, managed by Binance VIP Client Managers within 30 days after the promotion ends.

Promotion B: Social Sharing with High Rewards

In Promotion B, participants must share a screenshot of their best margin trade and the promotion page on their X social media account. The first 30 eligible users with a minimum of 30 engagements on their X post will receive a 100 USDT token voucher each. Moreover, the participant with the highest Profit and Loss (PnL) from their shared trade will win an Apple Vision Pro (512GB), awarded in the form of a USDT token voucher equivalent to the retail price.

Eligibility and Distribution

The promotion is available to verified regular and VIP 1-3 users enabled for Binance Margin trading. Eligibility may be subject to restrictions in certain jurisdictions or due to regulatory requirements. Voucher rewards will be distributed within 14 working days post-promotion, and users must claim their rewards before the vouchers expire.

Risk Warning and Terms

Binance highlights the risks associated with digital asset price volatility and advises participants to make informed investment decisions. The exchange also reserves the right to disqualify trades suspected of market manipulation or other prohibited activities.

This promotion underscores Binance’s commitment to engaging its trading community and rewarding active traders on its platform. It also reflects the growing trend of cryptocurrency exchanges using promotions to attract trading volume and retain users.

Conclusion

As the crypto market continues to evolve, Binance’s VIP Margin Trading Promotion marks a significant effort to enhance trader engagement and platform liquidity. With attractive rewards and exclusive event invites, Binance is poised to strengthen its position in the competitive crypto exchange landscape.

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Binance Expands Loanable Assets for Flexible Rate and VIP Loans | IDOs News

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Binance Introduces New Loanable Assets

Leading cryptocurrency exchange Binance has announced the addition of new loanable assets to its Binance Loans (Flexible Rate) and VIP Loan services, according to Binance.com. This expansion aims to provide users with more options and flexibility in managing their digital assets.

Details about Binance Loans (Flexible Rate)

Binance Loans (Flexible Rate) is a dynamic loan product allowing users to borrow cryptocurrencies by collateralizing assets in their Simple Earn Flexible Products subscriptions. This service offers the advantage of not requiring a fixed loan term, providing users with greater flexibility. Loan rates are updated every minute, and users can start with a minimum loan amount of 1 USDT equivalent. Additionally, users can earn Real-Time APR rewards through Simple Earn Flexible Products while managing their loans.

Insights into Binance VIP Loan

Binance VIP Loan is designed for large personal and institutional borrowers, offering competitive rates, terms, and services. This over-collateralized loan service is aimed at providing greater liquidity for long-term investment funds, leveraged trading, and hedging strategies. Users interested in this service can contact the Binance VIP Key Account Coverage team for more details.

Important Considerations

  • Users are advised to refer to the latest interest rates and a complete list of loanable and collateral assets on the Loan Data and VIP Loan pages.
  • To place new Binance Loans (Flexible Rate) orders via the Binance App, users must upgrade to at least iOS v2.78.0 or Android v2.78.0. Older versions do not support the placement of new orders.
  • For the most accurate information, users should refer to the original English version of the announcement, as there may be discrepancies in translated versions.

Conclusion

This update from Binance highlights its commitment to enhancing user experience by expanding the range of loanable assets and offering more flexible loan options. Users are encouraged to stay informed and leverage these new services to better manage their cryptocurrency investments.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of investments may fluctuate, and past performance is not indicative of future results. Users should consult an independent financial adviser and carefully consider their investment objectives before making any decisions.

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BitTorrent (BTT): Halving of BTFS Storage Rewards | IDOs News

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BTFS Announces Halving of Storage Rewards

To sustain the growth and success of the BitTorrent (BTT) ecosystem, BTFS is set to implement a halving on the next round of rewards for storage miners. According to BitTorrent Inc., from 00:00 (UTC) June 25, 2024, the daily rewards for storage miners on the BTFS network will be halved from 15 billion BTT to 7.5 billion BTT.

Understanding BTFS

The BitTorrent File System (BTFS) is a decentralized file storage system that utilizes blockchain technology and peer-to-peer transmission. It allows users to store their files across multiple nodes in a distributed manner, enhancing file security and reliability. BTFS also offers rapid file transfer and access, giving users greater convenience in managing and sharing files. By integrating key features of the BitTorrent Chain (BTTC), such as cross-chain connectivity and multichannel payment options, BTFS significantly enhances user experience.

Current Network Status and Growth

Currently, the BTFS network is experiencing rapid growth with over 8 million nodes across the network, including more than 6 million super miners, according to BTFS SCAN. To support the efficient operations of these nodes, BTFS initiated a rewards program and has provided an aggregate of 25 trillion BTT since the launch of BTFS Mainnet in 2019.

Every two years, the BTFS rewards halving will occur, causing the rewards for all storage miners across the network to be cut in half. This halving mechanism aims to sustain the long-term growth and stability of the BTFS network.

Impact of Halving

The halving will prompt miners to improve node performance by optimizing node operation and reducing waste. In addition, an upgrade of the official website for the BTFS technical community and the release of BTFS v3.0.0 Mainnet will be scheduled in sync with the halving. These developments are expected to improve the efficiency of the BTFS protocol, expand the user base, and enhance its overall functionality.

Future Plans

Looking ahead, BTFS is committed to continuously refining its storage rewards strategies. The goal is to expand the network of nodes participating in file storage on BTFS, providing developers with an efficient, secure, and reliable storage solution, boosting both the capacity and the transaction efficiency of the BTTC network.

About BTFS

The BitTorrent File System (BTFS) is both a protocol and a web application that provides a content-addressable peer-to-peer mechanism for storing and sharing digital content in a decentralized file system, as well as a base platform for decentralized applications (Dapp). The BTFS team has been working on the latest network operations and BTT market sentiment, among other factors, to make a series of dynamic adjustments such as upload prices and airdrop reward schemes.

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Bitfinex to List VELAR, Velar’s Native Token | IDOs News

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Bitfinex to List VELAR, Velar’s Native Token

ROAD TOWN, British Virgin Islands – May 28, 2024 – Bitfinex (https://www.bitfinex.com/), a premier digital asset trading platform, announced today that it will list VELAR, the native token of Velar, a multi-feature DeFi liquidity protocol with Bitcoin Finality, according to a media release.

Velar is a DeFi liquidity protocol that leverages the robustness of Bitcoin through a Layer 2 agnostic approach. It operates on the Stacks blockchain and employs the Clarity smart contract language. Through Velar, users can launch and trade tokens on the Bitcoin blockchain while earning rewards by providing liquidity to pools with pool assets. They enjoy the benefits of minimal fees on a secure blockchain. Velar’s multi-chain strategy plays a vital role in accelerating the adoption of DeFi within the Bitcoin ecosystem.

Velar’s native token, VELAR, serves as the platform’s backbone, acting as a key liquidity source and incentivizing user participation. Beyond its core function, VELAR offers a wider range of utility within the Velar ecosystem. Users can leverage VELAR for various purposes, including payments for goods and services, active platform engagement, and accessing opportunities such as Initial Dex Offering allocations, liquidity provider rewards, and participation in liquidity protocols offering boosted yields.

“Velar’s unique approach of utilizing a multi-chain strategy alongside Bitcoin’s well-established security plays a critical role in accelerating DeFi adoption within the Bitcoin ecosystem. This makes it an innovative addition to the cryptocurrency ecosystem as a whole. We’re excited to list $VELAR and empower our users to participate in this next wave of DeFi adoption.,” said Henry Child, Head of Tokens at Bitfinex.

Deposits of VELAR are anticipated to open at approximately 10:00 AM UTC on May 28, 2024, subject to network conditions. Trading is planned to commence at approximately 10:00 AM UTC on May 30, 2024 contingent upon liquidity requirements being met. VELAR will be tradable against US Dollars (VELAR/USD) and Tether tokens (VELAR/USDt).

To obtain access to $VELAR on Bitfinex, customers can visit https://www.bitfinex.com/.

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Media Contact for Bitfinex

[email protected]

For official logos and branding please visit https://www.bitfinex.com/press/#press-downloads

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