Thursday, January 20, 2022
Home Uncategorized Binance Loans Adds Borrowable Assets & Collateral assets, and Launches Stablecoins Promotion

Binance Loans Adds Borrowable Assets & Collateral assets, and Launches Stablecoins Promotion

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Binance, the largest exchange in the world in terms of daily trading volume of cryptocurrencies, declared that it has added Mines of Dalarnia (DAR), Gala (GALA), Illuvium (ILV), MOBOX (MBOX), The Sandbox (SAND), and Alien Worlds (TLM) as borrowable assets and the same list of tokens mentioned above except  The Sandbox (SAND) as collateral assets on the Binance Loans platform.

The company shared further details about the promotion of the stable coin via an official blog post and said that users while borrowing BUSD on the Binance Loans platform could enjoy a discounted daily interest rate of 0.04%, using collaterals other than CAKE, CTSI, DOT, KSM or MDX.

Moreover, the daily interest rate for PancakeSwap (CAKE), Cartesi (CTSI), Polkadot (DOT), Kusama (KSM) and Mdex (MDX) goes as low as 0%, 0.0013%, 0.0284%, 0.0258%, 0.0037%, respectively as collateral.

However, when borrowing USDT on the Binance Loans platform, a discounted daily interest rate of 0.06% will be offered to users.

According to the company:

“Binance Loans provides a large range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits based on market conditions and internal risk management.”

The company further notified its users that BNB holdings in Crypto Loans from now onwards would count toward the calculation of daily BNB balance.

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Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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