Binance has introduced a new program offering $800,000 in XRP rewards aimed at RLUSD holders. This initiative runs from July 17 to August 14, with weekly distributions scheduled every Friday.
Program Details and Eligibility Criteria
The promotion is designed to enhance user engagement with RLUSD while encouraging interaction across Binance’s Earn products, Margin trading, and Futures markets. Participants must have a minimum balance of 0.01 RLUSD and an average daily trading volume of $500 in Margin or Futures to qualify for the rewards.
To monitor qualifications, Binance tracks the minimum hourly balance of RLUSD in participants' accounts. The calculation of weekly rewards is based on a seven-day average balance and the current effective annual percentage rate. All rewards will be deposited directly into the Spot wallets of eligible users by 18:00 UTC each Friday.
Special Conditions for Borrowed RLUSD
For users with borrowed RLUSD positions, Binance will utilize different calculation methods. Borrowed amounts will see a 60% reduction after accounting for any existing debt obligations. This applies to borrowing transactions involving stablecoins like USDT and USDC. If users only hold borrowed RLUSD without sufficient personal balances, they may become ineligible for receiving rewards.
- Program duration: July 17 August 14
- Weekly distributions on Fridays
- Minimum RLUSD balance: 0.01
Binance confirmed that accounts linked to brokers can retain eligibility without any cap on distributions, allowing brokers to also partake in the benefits without restrictions.
This content is for informational purposes only, not financial advice.
