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Binance Offers Up to 20% APY on Axelar Tokens
Generated by AI AgentCoin World
Thursday, Feb 27, 2025 3:01 am ET1min read
Binance, the world's largest cryptocurrency exchange by trading volume, has launched a new fixed savings product for Axelar (AXL) tokens, offering annual percentage yields (APY) of up to 20%. The product, which is available for a limited time, aims to provide users with a secure and stable investment option for their AXL holdings.
The AXL fixed savings product is set to run from February 27th at 8:00 to August 26th at 7:59. Users can choose from two lock-up periods: a 20-day period with an annualized yield of 3% or a 150-day period with an annualized yield of 20%. The maximum individual investment for the 20-day lock-up period is 10,000 AXL, while the maximum for the 150-day period is 2,000 AXL.
The AXL fixed savings product is available on a first-come, first-served basis, and interest will be distributed to users' spot accounts daily. This means that users can start earning interest on their AXL investments from the first day of the lock-up period.
Binance's decision to launch the AXL fixed savings product comes as the cryptocurrency market continues to grow and evolve. The exchange has been expanding its offerings to include a wider range of investment options, including staking, lending, and savings products. By providing users with access to these products, Binance aims to help them maximize their returns and build long-term wealth in the cryptocurrency market.
The launch of the AXL fixed savings product is also a testament to Binance's commitment to supporting the growth and development of the Axelar ecosystem. Axelar is a decentralized network that enables cross-chain asset transfers and interoperability between different blockchains. By offering a fixed savings product for AXL tokens, Binance is helping to increase the demand for and liquidity of the token, which in turn supports the growth of the Axelar network.
As the cryptocurrency market continues to evolve, exchanges like Binance are playing an increasingly important role in providing users with access to a wide range of investment options. By launching products like the AXL fixed savings product, Binance is helping to drive innovation and growth in the cryptocurrency market, while also providing users with the tools they need to
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