Binance Times: Weekend Edition
Welcome to the first issue of the Binance Times, where fellow Binancians can find the latest news and updates. So without further ado, here is what's been happening this week.
Earn Wednesday continues
The latest (23/03/22) high-yield offerings for Binance's Earn Wednesday are out, here's a rundown of what's on offer this week.
120 day Locked Staking products for DODO (35.39% APY), BAKE (12.95% APY) and EOS (9.78% APY) are on offer with low minimum staking amounts.
Flexible Savings products have been added and rates adjusted for BSW (2% APY), LUNA (up to 5% APY), and SAND (5% APY). If you were already subscribed to any of these savings products, fear not, the increases are automatic, you don't have to resubscribe or opt-in in any way.
Liquidity Farming is currently offering great rewards on the GMT/BUSD pool. The announcement states 67.88% and does not clarify the minimum investment amount.
Upon further research, the current rate (at time of writing) is around 47.66%, with 18.84% being the trading fee rewards and 28.81% GMT rewards. This gives you an idea of the volatility you should expect in a new liquidity pool, and why Liquidity Farming is considered high risk.
The minimum amount required to join the pool is at least 12.86 GMT and 10 BUSD. Only if you are adding both tokens will this transaction be fee less. Swap fees will apply if adding only one token and allowing Binance to swap them into the correct ratio for you.
Binance now includes a handy Impermanent Loss Calculator in the Liquid Swap interface. If you're new to Liquidity pools, I highly recommend you click the calculator play around with some figures so that you have an idea of what to expect.
In case you missed it, last week's (16/03/22) Earn Wednesday offerings were:
120 day Locked Staking products for ATOM (30.49% APY), IOST (20.19% APY) and TRX (12.38% APY) are available with low minimum staking amounts.
Flexible Savings rates for SHIB and BNX are at 2% APY while 5% APY can be earned on WAVES. If you already have any of these coins subscribed, then you will automatically be enjoying the new rates.
The most impressive offering today is 108.1% APY for the new GMT (opened 15/03/22) Liquidity pool. On top of the usual swap fee rewards offered in Binance's liquid pools, bonus GMT tokens are also being rewarded.
GMT was recently offered through the Launchpad via subscription and then listed on Binance immediately after.
And that's all for Earn Wednesday, not quite as exciting as previous weeks, but still, some good chances to grow your sats.
New Liquidity Pools added
Binance Liquid Swap opened new pools for APE, ATOM, and GMT tokens on the 25th of March. 6 new pools are now available for USDT and BTC pairs. New pools can be very lucrative but don't expect the rewards to last for too long.
High Yield Locked Savings and bonus reward
Calling all AXS, BUSD, CAKE, DREP, and USDT hodlers - a double rewards promotion is currently being offered for deposits of these coins into Locked Savings. To qualify, you will need to deposit the minimum amount of coins from a non Binance wallet, and then subscribe to Locked Savings. Savings offers range from 5-50% APY locked for 7-60 days as below.
If your deposit and subscription amounts reach the thresholds below, you will also qualify for a second reward; a VIP upgrade voucher for 2 months. Vouchers earned will be found in your Binance account - Rewards center.
Binance Learn and Earn
The 25th of March marked the launch of Binance's new Learn and Earn feature. Much like Coinbase Earn, all you need to do is watch a short video and answer a short quiz to earn some crypto. This is an awesome way of increasing your general knowledge of crypto and learning about new tokens. To be eligible for Binance's Learn and Earn you need to be KYC verified.
As soon as I saw this, I jumped right in to check it out, but unfortunately, all the rewards have already been redeemed. Currently, courses are available for Woo Network (WOO), Terra (LUNA), Polkastarter (POLS), and Ankr (ANKR). There are also two general courses for beginners; Welcome to Crypto, and A Beginner's Guide to Binance Trading.
