Binance Announces SUI Locking Prizes

Binance announced a program for users to earn rewards by locking SUI. Accordingly, users who lock the most Binance-defined volumes will be able to earn up to 9.6% in rewards.

Binance made a statement about SUI locking prizes on its own blog site. The following statements were made in the announcement:

“Dear Binance Community,

We’re excited to announce a Locked Products update on Sui (SUI) for Binance Simple Earn. During the Promotion Period, subscribers to SUI on Simple Earn Locked Products can earn rewards of up to 9.6%* in APR!

Here are the details regarding the mechanism on SUI Locked Products:

– Promotion Period: Subscriptions must occur between 2024-03-07 10:00 (UTC) and 2024-05-07 09:59 (UTC) to be considered eligible.
– Subscription Format*: First-come, first-served basis. Minimum subscription amount, maximum subscription limits, and duration requirements apply, impacting your APR. Please refer to the table below and the notes in this announcement for further details.
– Reward Calculation Period: From 00:00 (UTC) on the day following an eligible subscription to Locked Products until the subscription period’s end.
– Rewards Distribution: Conducted on a daily basis.

Here’s how you can get started with SUI Locked Products:

1. Go to [Earn] and search for SUI.
2. Select Duration and subscribe with SUI to start earning up to 9.6% APR daily!

Kindly note:

– Binance reserves the right to adjust APRs post-Promotion Period without prior notice. Please review the Binance Simple Earn Terms & Conditions before utilizing any products on the Binance Simple Earn platform.
– At the end of the agreed subscription period, Binance Simple Earn will convert digital assets/currencies subscribed to Simple Earn Locked Products to Flexible Products. The value of digital assets/currencies fluctuates and is subject to change.
– Users can view their Locked Products subscriptions under Wallets > Earn > Simple Earn > Locked.
– Users can enable the “Auto-Subscribe” function to automatically renew their existing Locked Products position into a new position of the same duration upon expiry.
– Unlock period for Locked Products: One day.
– For early redemption of Simple Earn Locked Products, users may redeem their assets in advance. However, choosing early redemption forfeits any accrued rewards. Any distributed rewards will be deducted from the refunded principal, with digital assets returning to the spot account within 48-72 hours.

Should you have any inquiries, refer to the Locked Products FAQ or reach out to our support team.

Please note that discrepancies may occur in the translated versions of this original English article. For the most up-to-date or accurate information, please refer to this original version.

Happy earning!”

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