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After a month of launch, Binance Liquid Swap has attracted stablecoins worth up to 128 million USD, as of October 3.
To further enhance the user experience, in the coming days, Binance Liquid Swap will offer up to 45% daily APY (year rate of return) for users who have deposited stablecoins to the platform. You can check out this site to see the offered yields and make the most of the opportunity.
For more details on this offer, read the FAQ below:
What is the APY increase due to?
Liquidity providers on Binance Smart Chain will receive a portion of the fee income of transactions made on the pools. They also receive flexible savings interest on their assets. With this APY increase, Binance Liquid Swap will increase flexible savings for all liquidity pools, and intends to maintain a high daily APY in the coming weeks.
How is the flexible savings interest rate calculated?
Every day at 07:00 AM (UTC), Binance Liquid Swap will calculate the profit based on the current balance of assets in the pool, subtract the amount just added yesterday and add the amount withdrawn yesterday. Binance Liquid Swap will also take into account the pool’s flexible savings rate yesterday.
Why is the 7-day APY showing on your site now at 15% instead of 45%?
The system will use the change in pool stake value of the last 7 days to calculate the 7-day APY. Binance Liquid Swap will start increasing fixed savings interest for pools from October 3rd, and the first payout since the interest increase will be made at 08:00AM on October 4th (UTC). .
Based on the 7-day APY calculation, you won’t immediately get higher APY from day one, but it will increase gradually until reaching 45% after 7 days.
What is the estimated APY of each liquidity pool?
After increasing interest, users can get 45% APY for BUSD/DAI pool. BUSD/USDT, BUSD/DAI, and USDC/USDT pools will have their APY increased by 25%.
What are the other advantages of Binance Liquid Swap?
In addition to high yields, Binance Liquid Swap has the following other advantages:
- Free gas and management fee, superior to similar products.
- Low transaction fee, only 0.04%.
- Low slippage, make sure the actual conversion rate will be as close to your screen rate as possible.
- Safe and secure on the largest cryptocurrency exchange in the world.
The APY Boost Update for Binance Liquid Swap is the platform’s latest change. At the time of launch, it only supported 3 stablecoins and 3 liquidity pairs. Since then, this product has:
- API user support.
- Listing USDC as the 4th stablecoin.
- Add USDC/USDT as the 4th trading pair.
With Binance Liquidity Pool, you can leverage the power of an automated market maker (AMM) product to receive stable prices and low fees for every swap you make with the 4 listed trading pairs.
Stay tuned for more updates from Binance Liquid Pool in the coming days.
Sign up for Binance exchange here
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