Exchange Announcement Tracking

May 25,2023
Binance: Binance NFT Marketplace launches NFT lending This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Binance NFT is excited to announce the upcoming launch of Binance NFT Loan at 2023-05-26 11:00 (UTC), where NFT owners can secure an ETH loan by using their NFTs as collateral. Users can enjoy greater flexibility on their NFT assets, and retain the potential long-term value of their NFTs without having to sell them.  This overcollateralized, open-term, and peer-to-pool loan feature offers distinct Loan-to-Value (LTV) ratios for each NFT collateral-loan pair position.  🪧 Table display is not currently supportedKey Benefits: Instant liquidityZero gas feesLiquidity protection Competitive interest rates  Notes:  As of 2023-05-26 (UTC), Binance NFT Loan supports Ethereum (ETH) loans only, and NFTs from the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles collections as collateral options. More borrowable assets and NFT collateral options will be available on Binance NFT Loan in the future.More information on liquidation, interest rates, borrowing and repayment, as well as other further details can be found in the FAQ. Promotion: Enjoy a 70% Discount on NFT Loan Interest Rates Promotion Period: 2023-05-26 11:00 (UTC) until further notice During the Promotion Period, users who obtain an NFT loan from Binance NFT can enjoy 70% off the current borrowing interest rates. NFT CollateralStandard Borrowing Interest Rates per AnnumDiscounted Borrowing Interest Rates per AnnumBAYC11.2% 3.36%MAYCAzukiDoodles Stay tuned as we continue to integrate more NFT collections and blockchains to our loan product, and optimize our features to expand the range of our offerings.  Get an NFT Loan Now! Terms & Conditions: Users have to complete identity verification in order to use Binance NFT loan.Users can find their NFTs via Binance NFT Marketplace > My NFTs > Collected.   Binance reserves the right to disqualify any participants showing signs of fraudulent behavior immediately.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Thanks for your support! Binance Team 2023-05-25 Trade on-the-go with Binance’s crypto trading app (iOS/Android) Find us on  TelegramTwitterFacebook Instagram  Follow Binance NFT on  Telegram TwitterInstagramDiscord Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice. Risk Warning: NFTs are subject to high market risk. Obtaining an NFT Loan is completely optional and you do so at your risk, including the risk of liquidation when the value of your NFT collateral drops significantly. You are solely responsible for your participation in this offering and Binance is not liable for any losses you may incur. Always do your own research and seek independent professional advice to determine if this product is suitable for you. For further details, see our NFT Terms and Conditions and general Binance Terms of Use and Risk Warning. Original link:
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