According to ChainCatcher's message, in response to the market news that "Binance will launch a new stablecoin BFUSD with an annual interest rate of 19.55%", Binance responded that BFUSD is not a stablecoin, but a reward margin asset for futures trading, and Binance will soon share more details, including how to determine the APY.
Additionally, according to the asset's release page, users can deploy BFUSD as collateral without the need to stake or lock up funds. Instead, users will deposit the assets in the UM wallet and receive daily airdrops to their UM futures wallet based on hourly snapshots, the blog said. Users will receive a BFUSD quota based on their VIP level.
