BUSD, the official US dollar-pegged stablecoin of Binance, has introduced the BUSD Reward Program, a new monthly rewards program for BUSD users who use their holdings on DeFi and other blockchain applications in Binance Smart Chain and Ethereum. This program starts on October 10.
The BUSD Reward Program makes using BUSD more worthwhile, with more opportunities to earn, as well as more freedom to use your BUSD in whichever way that works best for you.
In addition, BUSD has been the stablecoin of choice for many market makers and OTC traders, because it is very quick and convenient to trade US dollars into BUSD and vice versa. With the launch of the BUSD Reward Program, we’re opening up another enticing avenue for you to maximize your BUSD: by holding more BUSD (instead of opting to convert them into USD) and taking advantage of our new rewards.
How Does the BUSD Reward Program Work?
With the BUSD Reward Program, we rank all crypto addresses that hold BUSD based on the average daily amount of BUSD held within 30 days. After that, we distribute a set amount of BUSD according to the percentage of the crypto addresses’ holdings relative to the total market cap of BUSD. This excludes addresses related to wallets on Binance.
For example, if one of your addresses holds 90,000,000 BUSD between Day 1 and Day 29 (assuming you chose to transfer all your BUSD away from that address on Day 30), your average daily holding volume is equivalent to 87,000,000 BUSD. This is calculated by summing up the daily average BUSD holdings (in this case, 90,000,000 BUSD * 29 days), then dividing that by 30.
If the BUSD market cap at the end of Day 30 is 400,000,000 BUSD, your address’ share of the total BUSD market cap is 21.75%. We then use this percentage as your allocation of the total BUSD reward pool. If the reward package for the program is set at 10,000 BUSD, your address will receive 21.75% of the total package, or 2,175 BUSD, just by having the BUSD you already own.
In effect, the BUSD Reward Program allows you to earn additional funds on top of what you already earn from DeFi.
Where Can You Use BUSD in DeFi?
Over the past few months, the BUSD team has partnered with various DeFi platforms and other blockchain solutions to expand the use of the Binance-branded stablecoin. Right now, you can earn bonus tokens from the BUSD Reward Program while participating in the following DeFi platforms:
DeFi solutions that use Binance Smart Chain
- DeFi platforms like Cream.finance, Fortube, YFII, and Bounce.
- Yield farms like BakerySwap, Burger.swap, TunaSwap, PeachSwap, Spartan Protocol, MILK Protocol, Prometeus, and more.
Check the latest yield farming options available to you via BSCScan.
DeFi solutions on Ethereum
- DeFi trading platforms like Uniswap, 1inch, Kyber, Loopring, Tokenlon, Mooniswap, Paraswap, and Bepswap.
- DeFi earning platforms like Curve, Yearn, Delphi, Fortube, etc.
- DeFi borrowing platforms like Aave and Cream.finance
More Earning Opportunities With BUSD on Binance
But a lot of users prefer to keep BUSD in their Binance account instead. While you may not be included in the BUSD Reward Program, you still have various earning opportunities for holding BUSD in Binance.
You can deposit your BUSD in Binance Flexible Savings, through which you can earn a bonus BUSD at a 2%-5% APY (annual percentage yield). We even provide an auto-deposit function, which automatically transfers BUSD from your spot wallet to Flexible Savings, making it possible for you to earn even if you forget to proactively save. We also offer Fixed Savings products, where you can save BUSD in 7-, 14-, 30-, and 90-day savings products and earn a higher APY, between 5% and 15%
In addition, depositing BUSD is now more rewarding via Binance Launchpool. Your BUSD deposit will get you a share of the free tokens from the offerings that launch on the platform and include BUSD in their yield options. This can increase the APY to 18%.
Meanwhile, you can add BUSD into the liquidity pool over at BSwap for the opportunity to earn about 10%-20% APY. In addition, you can use your BUSD to join one of the DeFi staking offerings on Binance, and this can give you around 20%-30% APY.
In other words, whether you opt to use BUSD on Binance or on DeFi, you get to benefit from our suite of rewarding programs for BUSD holders everywhere. Use, trade, and hold your BUSD. Click this link to learn about how to get BUSD.
