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Binance Introduces LDUSDT: Reward-Bearing Margin Asset for Futures Trading
Binance has announced the introduction of a new reward-bearing margin asset called LDUSDT, marking its second such initiative following the release of BFUSD. Unlike stablecoins, LDUSDT is a crypto asset designed to serve two purposes – providing trading margin and generating returns for holders. In order to access LDUSDT, users will need to swap their Tether (USDT) holdings from Binance’s Simple Earn Flexible Product.
LDUSDT allows traders to earn annual percentage yields through Binance’s hedging and investment strategies. These strategies generate income by funding fees and staking rewards. At present, the current annualized yield for holding LDUSDT is around 1.5%. It is essential to note that these rates are not fixed and will be updated in real-time on a minute-by-minute basis.
LDUSDT will be available on both Binance’s website and mobile app. Unfortunately, an exact launch date has yet to be announced by the exchange but indicated it would be “soon” in their announcement.
This new asset holds significant appeal for futures traders who traditionally face a dilemma when managing margin capital. Typically, funds allocated as trading margin remain idle and generate no returns unless used in open positions. With LDUSDT, users can now maintain a balance between earning yields from the rewards provided by this new asset while also having available for future trades.
The real-time APR rewards will be automatically accrued to holders of LDUSDT. This mirrors the functionality of the Simple Earn USDT Flexible Assets program but with the added benefit of margin utility. Binance has positioned this product as part of their ongoing efforts to provide value-added services to users.
Source: https://coincentral.com/binance-introduces-ldusdt-reward-bearing-margin-asset-for-futures-trading/
