Binance adds $ERD Savings for 7 & 14 days with 10% and 12% APR
Binance will open a customizable $ERD Savings product on 30 April at 12:00 UTC. Each user will be capped at 5.000.000 ERD per deposit and will be able to select a 7 days lock with 10% APR or 14 days lock with 12% APR.
There is a total 150.000.000 ERD cap for each of the products, to be allocated on a first come, first served basis. Interest calculation starts 24 hours after the launch of the products, on 01 May at 12:00 UTC.
“Forget about sprints or marathons, building Elrond is like testing your limits in an Iron Man. But the prize is incomparably larger and its impact long lasting. What we’re building is here to stay, so we’re helping you get used to hodling. Great to be able to offer this program with our Binance partners.” said Beniamin Mincu, Elrond CEO.
Experienced users who have benefited from these services before will recognize this Custom Savings product as a flavor of the previous “Fixed Deposits”. Binance recently rebranded their Lending product as “Savings” and subsequently renamed their “Fixed Deposits” to “Locked Savings”.
Check out the full details here: https://binance.zendesk.com/hc/en-us/articles/360042465472
