The following information was taken from www.binance.com
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Simple Earn is launching GMX and GNS on Locked Products. Complete subscriptions to GMX and GNS Locked Products from 2023-03-16 12:00 (UTC) to start earning rewards.
- Subscription Format: First-come, first-served basis.
- Reward Calculation Period: From 00:00 (UTC) on the day after you subscribe to Locked Products, until the end of the subscription period.
- Rewards Distribution: Rewards will be distributed once only, between 00:00 (UTC) and 04:00 (UTC) on the next day after the subscription expires.
Binance Simple Earn Launches GMX and GNS Locked Products
Offered Products (Locked Products)
| Digital Assets | Duration | Standard APR | Min. Locked Products Subscription Limit Per User | Max. Locked Products Subscription Limit Per User |
| GMX | 30 Days | 4.9% in ETH | 0.01 GMX | 100 GMX |
| 60 Days | 6.9% in ETH | 0.01 GMX | 20 GMX | |
| 120 Days | 9.6% in ETH | 0.01 GMX | 3 GMX | |
| GNS | 30 Days | 5.2% in DAI | 0.01 GNS | 800 GNS |
| 60 Days | 6.4% in DAI | 0.01 GNS | 200 GNS | |
| 120 Days | 8.4% in DAI | 0.01 GNS | 15 GNS |
Notes
- Users who complete subscriptions to GMX Locked Products will receive rewards in ETH tokens, while those who complete subscriptions to GNS Locked Products will receive rewards in DAI tokens.
- Please note that the rewards for GMX and GNS Locked Products will be distributed between 00:00 (UTC) and 04:00 (UTC) on the next day after the subscription expires.
- Please refer to Binance Simple Earn Terms & Conditions prior to using any products on the Binance Simple Earn platform.
- Binance Simple Earn will redeem the digital assets/digital currencies subscribed to Simple Earn Locked Products to Flexible Products at the end of the agreed subscription period. The value of digital assets/digital currencies fluctuates and is subject to change.
- Users can view their Locked Products subscriptions by going to Wallets > Earn > Simple Earn > Locked.
- Users can enable the “Auto-Subscribe” function before completing subscriptions to Locked Products, which will automatically renew your existing Locked Products position into a new position of the same duration upon expiry.
- Unlock period for Locked Products: One day.
- Locked Products FAQ.
- About early redemption for Simple Earn Locked Products: Users can choose to redeem their assets in advance. After choosing early redemption, digital assets will be returned to the spot account, and users will not be entitled to any rewards. Any distributed rewards will be deducted from the refunded principal. It may take 48-72 hours to receive the digital assets.
- Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions. See the Terms & Conditions for Prize Promotions for full terms and conditions.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-03-16
Leave a comment