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Binance Enters Third Phase of Dual Savings Products

Binance
Binance

Crypto exchange giants Binance have launched the third phase of dual savings products. Binance announced the launched on its official Twitter account on August 26.

The following steps can be used by users to access it:

  • Users can view their Dual Savings assets by going to Pool > Dual Savings > Order record icon in the upper right corner.
  • The calculation method of the settlement price is based on an index of BTC prices across seven different exchanges: Bitstamp, Bittrex, Coinbase Pro, Gemini, Kraken, Itbit, and LMAX Digital. During settlement, the highest and lowest prices from these exchanges will be removed from consideration, and the average price from the remaining five exchanges will be used as the final settlement price. The settlement time is 8:00 AM (UTC) on the day the product expires.
  • Delivery Date: Refers to the date the investment product ends. On this date, the funds you allotted for a Dual Savings product will be automatically returned to your Spot wallet, including the interest.
  • Settlement Currency: Refers to the payment currency, which is determined based on the maximum principal return on the delivery date. The specific settlement currency depends on the difference between the settlement price and the pegged price on the delivery date.

Risk Factor

Cryptocurrency investment is subject to high market risk. Binance in the release mentioned that it is not responsible for any direct, indirect or consequential losses. Please make your investments with caution.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.