Binance Futures launches LDUSDT, a margin asset that provides rewards based on the popular Tether stablecoin. This product focuses on providing flexibility for users, allowing them to trade LDUSDT while receiving APR rewards.
This is the second product of its kind that Binance Futures has offered after launching BFUSD in November last year. LDUSDT is expected to launch this month, and its success could encourage similar margin products in the future.
Binance Futures launches LDUSDT
Binance, the world's largest cryptocurrency exchange, continues to expand its products. They dominate crypto trading and most staking rewards, but also offer various margin assets.
Today, Binance Futures added such an asset: LDUSDT, a margin asset that provides rewards allowing users to earn APR from Simple Earn USDT Flexible Products.
"After our first reward-bearing margin asset, BFUSD, was positively received by users, we are excited to introduce another product to provide more utility for users. LDUSDT enhances capital efficiency for users and allows them to put their assets to work," said Jeff Li, Vice President of Product at Binance, in an exclusive press release shared with BeInCrypto.
Binance's new asset is based on Tether's USDT, the world's leading stablecoin, but LDUSDT is a completely different asset. Its primary goal is to provide more flexibility for Binance users, who can trade this asset while continuing to receive passive income from APR.
This option is available to all users with USDT on Binance Earn's Simple Earn Flexible Products. LDUSDT is the second reward-bearing margin asset of Binance, after BFUSD, which was launched in November last year.
Although the company recently delisted USDT from operations in Europe due to regulatory concerns, this product still focuses on the popular stablecoin.
According to the announcement, the exchange will soon launch LDUSDT without a specific release date. The exclusive press release indicates that the asset will be released sometime this April.
The company has not given any indication of whether they will provide additional margin assets like this in the future. However, LDUSDT provides Binance Futures users with a high degree of flexibility, and hopes are that this will encourage users to experiment.
Success here could encourage the company to continue developing similar products in the future.
