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Binance Loans Adds CAKE; Launches Interest Rate Reduction Promotion


cryptoknowmics.com 27 June 2022 09:47, UTC
Reading time: ~2 m

Binance Loans introduces the borrowable asset CAKE and a promotion to lower interest rates. For all cryptocurrencies on the platform, including $BTC, $BUSD, and $ETH, Binance Loans has reduced interest rates and added the borrowable asset $CAKE. The promotion will last for one month, until July 27, 2022. Binance Loans offers a wide range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits. In its sole discretion, Binance maintains the right to modify or adjust the interest rates without prior warning. The loan terms range is 7, 14, 30, 90, and 180 days. The interest depends on the number of hours borrowed; you can always pay it back in advance. Early repayment is not subject to any fees. https://twitter.com/binance/status/1541244374725427200  

Interest Rate Reduction Promotion

Binance Loans started a campaign to lower loan rates on the marketplace in March, and the company has teamed up with Binance NFT to provide the NFT Mystery Boxes Reward Program. Users old and new are both welcome to take part in these events. Based on market conditions and internal risk management, Only the greatest staking projects are available to Binance users. For any losses incurred due to project on-chain contract security problems, Binance disclaims all responsibility.

Borrowable Asset CAKE

PancakeSwap (CAKE), a decentralized exchange (DEX) powered by the Binance Smart Chain, was introduced in 2020. Users of PancakeSwap (CAKE) can trade against a liquidity pool thanks to an AMM (Automated Market Maker). Additionally, users can trade BEP-20 tokens, stake various tokens, conduct transactions across different blockchains, and engage in yield farming. PancakeSwap (CAKE), whose use case is expanding and whose price is expected to reach $30 by 2025, has been singled out in numerous crypto news forecasts as an excellent long-term investment.

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