Binance NFT Supports Staked Ape NFTs As Collateral on NFT Loan

This is a general announcement. Products and services referred to here may not be available in your region.

Fellow Binancians,

Binance $NFT is pleased to announce that users will be able to use staked Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC)NFTs in the Ape $NFT Staking Program as collateral on $NFT Loan, effective from 2023-06-21 13:00 (UTC).

This introduces more flexibility for Binance $NFT users, who can now stake their existing BAYC and MAYC $NFT collateral on $NFT Loan via the Ape $NFT Staking Program to earn ApeCoin ($APE) daily rewards, or gain access to higher liquidity by completing an $NFT Loan with a staked BAYC $NFT or MAYC $NFT.

For more information on $NFT Loan, such as liquidation, interest rates, borrowing and repayment, please refer to the FAQ. Details on the Ape $NFT Staking Program can also be found in this FAQ.

Promotion: Get an Exclusive $NFT from the Mocaverse or Block Legends $NFT Collections After Completing $NFT Loans

Promotion Period: 2023-06-21 13:00 (UTC) to 2023-07-04 23:59 (UTC)

Snapshot Period: Daily

To celebrate the above update, Binance $NFT is launching a new promotion for all $NFT Loan users. A total of ten users who hold a daily average liability of at least 4 ETH in $NFT Loan during the Promotion Period will be selected based on the Awards Selection Rules Based on BNB Beacon Chain Hash Valueto each receive a Mocaverse $NFT or Block Legends $NFT.

Please note that users can continue enjoying the 70% discount on borrowing interest rates at $NFT Loan (i.e., 3.36%) until 2023-07-04 23:59 (UTC). From 2023-07-05 00:00 (UTC), all users can still enjoy a 20% discount on borrowing interest rates at $NFT Loan (i.e., 8.96%) until further notice.

Stay tuned to Binance $NFT’s Telegram, Twitter, Discord and Instagram for the latest updates on Binance $NFT!

Terms & Conditions:

• Users have to complete identity verification in order to use Binance $NFT Loan and participate in the Ape $NFT Staking Program. Users who have not completed identity verification, illegally bulk registered account holders and users from restricted countries/regions are not allowed to use these services. For more, please refer to Binance Terms of Use, Binance $NFT Marketplace Terms of Conditions, and the Binance $NFT Staking Terms.

• $APE daily rewards will be automatically distributed to users’ Spot wallets between 00:00 and 08:00 (UTC) on the third day after users submit their Ape $NFT staking requests.

• APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. The specific APR is subject to the page display on the day.

• $NFT rewards from the Promotion will be automatically distributed to users’ accounts within two weeks after the Promotion ends. 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.

Binance Team

2023-06-21