Binance to launch second reward-bearing margin asset LDUSDt

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The story "Binance to launch second reward-bearing margin asset LDUSDt" was covered 1 weeks ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 1w ago

Binance to launch second reward-bearing margin asset LDUSDt - Coin Telegraph

Quick Summary:

In its latest announcement, Binance preemptively reiterated that LDUSDt is not a stablecoin:“LDUSDT is not a stablecoin but a crypto asset that can be used as Futures trading margin, while allowing users to earn Simple Earn Real-Time APR rewards.“Related: Binance to purge 14 tokens following ‘vote to delist’ processA deeply integrated tokenAccording to Binance, LDUSDt can be used as a margin asset in multi-asset mode on the exchange’s futures platform.

The exact launch time is yet to be determined, with the announcement noting that it “will be available on the Binance website and app soon.” A Binance spokesperson told Cointelegraph:“[LDUSDt] gives users’ USDT more utility by converting it into a tradable asset for Futures, without losing access to their ongoing rewards.

When users swap their subscribed USDT for LDUSDT, the funds are automatically moved into their Futures Wallet, where they can be used as margin in Multi-Asset Mode.“Binance had not responded to Cointelegraph’s questions regarding potential risk implications associated with this system by the time of publication.