Golden Finance reported that according to the official announcement of Binance, at 23:00 on June 12th (UTC+8), Binance Defi App (HOME) received a major functional update, and the principality guaranteed and money-making current account product was officially launched. Meanwhile, “One-click coin buying”, flash redemption and leveraged trading services were also simultaneously launched on this platform.
The newly launched principal-guaranteed and money-making current account product offers users a stable financial management option. After users deposit specific crypto assets, they can earn daily returns at a set interest rate based on the type and quantity of the deposited assets. The assets have relatively high liquidity and can be redeemed at any time, meeting the needs of different users for flexible allocation of funds and stable appreciation.
The “one-click coin purchase” function greatly simplifies the process for users to buy cryptocurrencies. Within one hour after the spot market goes online, users can conveniently purchase HOME tokens using their credit card or wallet balance with just a few simple steps, without the need for cumbersome transfer or complex trading pair matching processes. This lowers the threshold for novice investors to enter the cryptocurrency market and makes investment more efficient and convenient.
The addition of the flash exchange function further enriches the trading experience of users on the Binance Defi App (HOME). With this feature, users can exchange HOME tokens for mainstream cryptocurrencies such as BTC and USDT without any transaction fees. This feature is based on advanced smart contract technology, which can quickly match the best market price, achieve low slippage exchange, and help users seize trading opportunities in a timely manner and adjust asset allocation in the rapidly changing cryptocurrency market.
It is worth mentioning that the leveraged trading service was also launched simultaneously in this update. The leverage platform has opened the HOME coin borrowing business and the corresponding trading pairs. For users with certain investment experience and a relatively high risk tolerance, this function provides an opportunity to amplify their returns. Users can borrow HOME tokens by mortgaging a certain amount of their own assets for trading. When the market trend develops in the expected direction, they can obtain returns several times the principal. However, while leveraged trading magnifies returns, it also amplifies risks. If the market trend goes against expectations, users may face losses far exceeding their principal.
Binance, a globally renowned cryptocurrency trading platform, has upgraded the functions of its Defi App (HOME) this time, aiming to further improve its ecosystem layout, enhance the quality of user services, and meet the needs of different user groups in various aspects such as cryptocurrency investment, wealth management, and trading. With the launch of these new features, Binance Defi App (HOME) is expected to attract more users in the cryptocurrency market and enhance its market competitiveness. Its subsequent development trends will also continue to be closely watched by all market participants.
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