Binance, the largest exchange in the world added Mines of Dalarnia (DAR), Gala (GALA), Illuvium (ILV), MOBOX (MBOX), The Sandbox (SAND), and Alien Worlds (TLM) as borrowable and collateral assets on the Binance Loans platform.
#Binance Loans adds borrowable assets & collateral assets, and launches stablecoins promotion!https://t.co/TJnW55J5J8
— Binance (@binance) December 17, 2021
The company shared further details about the promotion of the stable coin BUSD 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.