One of the hottest topics in today's world is a cryptocurrency, many countries are planning to legalize crypto in their countries. Many of the start-ups and entrepreneurs plan to start their crypto exchange business, they also look up top crypto exchange platforms and want to launch their own crypto exchange platforms like Binance, Paxful, Coinbase, and more.
Binance is one of the top crypto exchange platforms because it offers more features and also they have its own blockchain platform called Binance Smart Chain (BSC), Recently Binance Plans to offer a new program called VIP Borrower Program. In this short blog, we have to see about what is VIP Borrower Program and how users can benefit from it
come let see
Binance's "VIP Borrower Program" will allow the Loans and Margin users to become a Binance VIP or they can able to achieve a higher VIP level, From yesterday onwards (07/09/2022), Users can qualify for a higher VIP level. This VIP Borrower Program can be calculated by the 30-day average net borrowing volume and daily average BNB holding requirements.
Net borrowing volumes on Crypto Loans, Margin, and OTC loans will be counted towards a 30-day average net borrowing volume requirement for the VIP Borrower Program!
VIP Borrower Program - Highlights
Every user who met a 30-day average net borrowing volume and daily average BNB holding verges can be automatically upgraded to the comparable VIP tier If the VIP Borrower program will qualify them for a higher VIP level than their current standings. Users will not need to apply for the program.
- For Margin:
Traders who can qualify for the VIP Borrower program will benefit from a higher margin of borrowing for each upgrade VIP level (For example up to 18,000,000 BUSD per sub-account)
Eligible users who are in VIP 6 & above: The Margin borrowing limits of their margin sub-accounts will be the same as the margin borrowing limit of their master account. By defaulting Every VIP user can have a max of 10 Margin sub-accounts.
- For OTC Loan:
there will be no borrowing limit for OTC Loans as long as a user complies with a required risk ratio.
OTC loan collateral in the Spot Wallet can be freely traded on the spot market as long as users comply with relevant LTC (Loan-To-Value) and risk ratios.
We hope that now you all get a clear idea about the Binance VIP Borrower Program!
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Article source: https://article-realm.com/article/Business/Ethics/27524-Binance-Announce-VIP-Borrower-Program.html
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