Binance, one of the most leading cryptocurrency platforms, has recently launched a new range of products known as Range Bound. This product is designed to give users the opportunity to gain reward if the Reference Price of their chosen digital asset will stay within the selected Price Range during the entire Subscription Period. On the other hand, if the Reference Price ever rises above or falls below the Upper and Lower Range, a portion of their Subscription Amount will be forfeited according to the user's decision.
Subscription to Range Bound products is done through the platform's page, where users will select their chosen digital asset, Price Range, Settlement Dates and Potential APR they would like to aim for. The greater the Potential APR selected, the higher the Subscription Amount at Risk. For such products labeled with "Beginner", users can only risk a maximum of up to $100 in equivalent digital assets. After entering the Subscription Amount, users have to agree with the Binance Range Bound Service Agreement before moving to the confirmation step, completing the subscription.
It is important to note that, depending on the market, APR will change all the time and will be locked in once the subscription is completed. The Range Bound product cannot be redeemed before the Settlement Date. Moreover, Binance may decide to stop accepting new subscriptions at any time.
In order for users to be fully aware about the Range Bound product, Binance provides its users with more information, including a glossary and a detailed calculation methodology. In this regard, all users should read carefully these documents to make sure they understand the product they are subscribing to. Furthermore, if there is any discrepancy between the translated versions and the English version, the English version will prevail.
In conclusion, Binance's new range of Range Bound products could be a great chance for users to gain rewards in times of low market volatility. However, before subscribing, users should make sure they read and understand all the documents provided by the platform in order to properly utilize this product.
Liam Smith
- 2023-04-25
Understanding Binance's Range Bound Crypto Products
Binance has recently launched a new range of products called Range Bound. This product helps users earn reward when the Reference Price of their chosen asset stays within the selected Price Range.
