Binance has announced new promotions for its FIL (Filecoin) and ETH (Ethereum) Simple Earn Products. The initiative aims to reward users with up to 799 USDC in token vouchers and offers special annual percentage rates (APR) during the promotion period.

Promotion Details

According to Binance, the promotion period will run from September 19, 2024, to October 31, 2024. Users who subscribe to FIL Simple Earn Flexible Products and ETH Simple Earn Fixed Rate Locked Products will be eligible for the rewards.

The subscription format is on a first-come, first-served basis. Rewards will be distributed based on the following criteria:

• Bonus Tiered APR: Distributed daily to users’ Spot Wallets.
• Real-Time APR: Accrued and accumulated in users’ Earn Wallets every minute.
• Fixed APR: Remains constant throughout the locked term and is distributed daily to users’ Spot Wallets. The first reward will be given two days after subscription.

Eligibility and Ranking

During the promotion period, users will be ranked by their net eligible subscription amount, which is calculated as the total assets subscribed minus the total assets redeemed. The top 15 users will share the rewards.

If two or more users have the same net eligible subscription amount, they will be ranked based on their subscription timing. Users who redeem existing Simple Earn positions only to recreate the same positions during the promotion period will have a net subscription amount equivalent to zero.

How to Get Started

1. Buy ETH or FIL on the Spot Market or via the Buy Crypto pages on Binance, which supports various payment methods including Visa, Mastercard, Apple Pay, and Google Pay. Alternatively, users can deposit FIL or ETH to their Binance account.
2. Navigate to the Simple Earn section on Binance and search for FIL or ETH.
3. Select the desired product (Flexible, 60-Day, or 90-Day) and subscribe to start earning rewards.

Terms & Conditions

Binance reserves the right to amend or cancel the promotion at any time without prior notice. Users are advised to read the Binance Simple Earn Terms & Conditions and Risk Warning for more details.

Rewards for Promotion B will be distributed as USDC token vouchers within three weeks after the promotion ends. Users can redeem their vouchers via the Binance Rewards Hub, and all vouchers will expire 30 days after distribution.

For more information, please visit the official Binance announcement.

Image source: Shutterstock