Binance Launches $BFUSD with Unique Perks for Traders

user avatar

by Giorgi Kostiuk

2 years ago

$BFUSD is a new tool from Binance designed to attract active traders by offering unique rewards and features.

What is $BFUSD?

$BFUSD differs from traditional stablecoins, which generally maintain a fixed value. Instead, $BFUSD offers a 19.5% annual yield for futures trading. Rewards depend on the user's VIP level on the Binance platform. To earn rewards, traders must trade daily. $BFUSD can also be used as collateral for margin trading.

It is not a stablecoin but a reward-bearing margin asset for futures trading.Binance Customer Support

$BFUSD is Not a Stablecoin

Binance has made it clear that $BFUSD is not a stablecoin. Instead, $BFUSD acts as an incentive program for high-volume traders on the platform, offering additional reasons to keep trading.

The Binance $BFUSD announcement is more of an incentive program for the platform's whales than a new stablecoin.Defi_Maestro

Why It Matters

$BFUSD helps Binance keep its most active users engaged by providing additional benefits for their activity. It's mutually beneficial: traders receive rewards, while the platform increases trading activity. Currently, $BFUSD is not yet available as the program is being fine-tuned.

$BFUSD offers unique opportunities for active Binance users, helping the platform maintain its appeal and increase trading activity.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.