The decentralized finance movement will not circumvent ordinary centralized exchanges. Binance launches its financial product with a fixed yield. The rate for this stablecoin will reach 14.8%. At the discretion of the exchange, the DeFi Protocol will be selected, the token of which will be shared with participants.
#Binance Launches 14.8% APY Stablecoin Savings Products, Receive a Random #DeFi Token Bonus! Binance @binance via Twitter
Subscription to this stablecoin will be based on FCFS ("First come - first served") basis and will last only one day from August 14 to 15, 2020. Subscribing to this stablecoin does not allow you to receive other rewards associated with tokens
It is worth to note that the annual interest rate is 14.8%. The cost of the DeFi bonus token is included in this percentage and is 7.4% per annum.
For each lot that is registered, customers can receive an extra DeFi token incentive which is equivalent to interest income per lot. Specifically, one lot of currency's interest income is 2.84 USDT, while the DeFi bonus value is 2.84 USDT.
Users of the following 12 coins will earn the DeFi token rewards at random:
It seems that Binance has decided to enter the market of decentralized Finance, thus reducing the entry threshold for ordinary investors and assuring them of the security of financial products.
Let us recall that recently there was a scandal with a drop in the capitalization of the Defi Protocol YAM, which made it lose 90% of capitalization in just a few minutes.