On Monday (30 September 2019), Binance announced the upcoming launch of phase seven of the Binance Lending platform, which was launched on August 28.
According to Binance’s announcement, at 12:00 UTC on 2 October 2019, the following 14-day fixed-term lending products will become available:
The subscription period is from 12:00 UTC on 2 October 2019 to 00:00 UTC on 3 October 2019, and the format is “first-come-first-served”.
The interest calculation period begins at 12:00 UTC on 2 October 2019 and ends at 12:00 UTC on 16 October 2019. The interest will be paid out as soon as the loan term matures.
As the Binance Team has repeatedly pointed out since the day that the Binance Lending platform was announced, “BNB balances committed into Lending products will be included in each user’s daily BNB balance calculations for Binance Launchpad and other daily calculations.”
Featured Image Courtesy of Binance
