Binance is all set to launch its fifth phase of lending products on 20th September 2019 at 6:00 AM (UTC), where 14-day fixed-term lending products will be made available. The exchange has included privacy coins Monero(XMR), ZCash(ZEC) and Dash to list of its lending products. The service is available to users on a first-come-first-serve basis.
Monero, ZCash and Dash Added
Per an official announcement on Binance’s twitter handle, Binance is all set to launch its fifth phase of Binance Lending Products on September 20th. Binance has added Monero(XMR), ZCash(ZEC) and Dash(DASH) to the fifth phase of the lending program with annual returns of 3.5%.
The individual caps of coins have been set at 300 XMR, 60,000 ZEC, and 30,0000 DASH. The interest will be calculated from 20th September to the 4th of October.
A look At Previous Lending Phases
Binance launched its fourth phase of lending on the 18th of September. The third phase of the launch saw Ripple(XRP), Litecoin(LTC) and USDC being added to the lending platform providing 7% annual returns.
Binance launched the second phase of its lending program on the 4th of September. In the second phase, 14- day and 28-day fixed-term lending products were made available.
However, in the third phase interests will be accrued over a fixed period of 14-days only. The first phase of Binance lending began on the 28th of August with returns as high as 15% on BNB coin. Binance believes that the various phases of lending will increase the availability of funds to margin traders.
Binance Launches Margin Trading for ATOM Token
A few hours back, Binance also launched margin trading for ATOM token. The newly added ATOM coin can presently be paired with Bitcoin(BTC) and Tether(USDT).
Three weeks ago, Binance added margin trading for NEO and Monero(XMR). At present, the trading pairs available on the platform include NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT.
With Binance continuously making efforts to launch futures products and undertaking margin trading initiatives, it is likely that Binance will set new benchmarks for the same and gain competitive advantages over rival exchanges. Let us know what do you think in comments!