Binance: BNB Vault Will Allow You To Earn Up To 8% Annual On BNB Collateral
The well-known crypto exchange Binance announced the launch of a new investment product BNB Vault. This product will allow Binance customers, secured by the BNB token, to receive up to 8% of passive income per year.
BNB Vault is an investment product or BNB profit aggregator that combines a flexible savings system. BNB DeFi Staking and Launchpool to enable users with guaranteed annual returns ranging from 5% to 8%.
By going to the BNB Vault page on Binance Earn and clicking on the bet, we will see detailed information on all the points of return associated with the BNB Vault. Points of return include Launchpool tokens earned from BNB staking, profits earned from participation in the Binance Smart Chain, Binance Flexible Savings product rewards and DeFi pledgel.
Binance’s official announcement on November 3 said:
” BNB Vault integrates many Binance products in one click, you can maximize the benefits of centralized and decentralized funding to increase BNB’s earning potential. BNB holders just need one click to take full advantage of the Binance ecosystem. ”
It is also said that interest on income from BNB collateral will start accruing the next day at 0:00 (UTC). Users will be able to receive income payments on the third day from the date of the pledge. The collateral income will be calculated on a daily basis based on an annual rate of return (APY) of up to 8% and distributed across the users’ spot accounts.
Clients of the exchange will still be able to deposit and withdraw BNB token with maximum convenience and flexibility, as the Binance exchange is fully responsible for all technical aspects of the process. Withholding shares remain eligible for BNB benefits such as airdrops, Launchpad positions, and VIP rights in the process of earning income through Vault products.
Binance’s new product is based on DeFi Farming – profitable farming. This innovation boosted investment in DeFi and generated huge returns for users. Profitable farming is one of the reasons for the explosive growth of DeFi in 2020, experts say. The value of the industry has increased its capitalization more than tenfold, from $ 1 billion earlier this year to $ 10.9 billion. Everything that is happening around DeFi Farming today explains Binance’s desire to join the celebration.
One of the largest crypto exchanges in the world, Binance, sees it as its goal to make BNB Vault a catalyst for launching decentralized solutions through the Binance Smart Chain.