Campaign mechanism
According to the official announcement from Binance Earn, the promotion runs from Feb. 27 (00:00:00 UTC) through March 12 (23:59:59 UTC).
Flexible Products are offered on a first-come, first-served basis, so users are encouraged to subscribe early.
Participants can redeem their $RLUSD funds at any time while still accruing rewards due to the "flexible" nature of the product.
The advertised 8.5% $APR actually combines two distinct reward structures. The rewards generated from this 8% tier are distributed directly to users' Spot Accounts on a daily basis.
The remaining yield comes from the standard Real-Time $APR. This yield is accrued and accumulated directly into the users' Earn Accounts on a minute-by-minute basis.
Binance users must complete the platform's standard identity verification checks in order to be able to participate.
Sub-accounts are not eligible for the promotion, meaning only master accounts will qualify for the rewards.
Users can subscribe with a minimum of 0.01 $RLUSD and a maximum limit of 50,000 $RLUSD per user to access the highest tier of rewards.
The campaign has a global cap of 6,000,000 $RLUSD across all participants, underscoring the "first-come, first-served" warning in the announcement.
Binance added support for $RLUSD for spot trading on Jan. 22.