Binance to Debut Crypto Lending Options with ZEC, DASH and XMR
Binance is ready to take its Binance Lending Service to the next level. The company, which launched its program back on August 28, is set to make a huge upgrade this week.
In a similar way to how it was done in the first phase of the program, all products will have a 14-day lending period and an annualized interest rate of 3.5%.
The total subscription cap and individual cap of each investment are as follows:
- Monero (XMR): total cap of 30,000 XMR tokens and individual cap of 300 XMR.
- Zcash (ZEC): total cap of 60,000 ZEC tokens and individual cap of 600 ZEC.
- DASH: total cap of 30,000 DASH and individual cap of 300 DASH.
The annualized rates are significantly lower than the ones that Binance Coin (BNB) had during the launch of the services. At the time, the numbers ranged from 15% to 6%. Bitcoin, however, was launched with a 3% interest rate.
In related news, CEO Changpeng Zhao recently stated that no hacker had attacked the futures platform of the company, and rumors of a potential hack on the platform needed to be put to rest once and for all.