Binance Futures Adds USDC Support and New Features for BFUSD
Binance Futures announced updates to BFUSD, effective January 22, including:
- Support for USDC alongside USDT for purchasing BFUSD.
- Daily rewards issued in USDC from January 23, irrespective of the purchase method (USDT or USDC).
To address supply shortages, Binance introduced:
- Pre-Buy: Users can reserve BFUSD by depositing USDT or USDC when supply is low.
- Pre-Redeem: Users can reserve USDT or USDC by depositing BFUSD if supplies are insufficient.
New metrics for transparency include:
- Historical chart showing total annual percentage yield (APY) from derivatives and earn APY.
- Charts for total BFUSD supply trend and system collateralized trend.
- Summary of BFUSD's backing, holdings, and positions for user insight.
BFUSD was launched in November to enable passive earnings for Binance Futures users. It cannot be used outside the Binance ecosystem.