- Binance increases BFUSD holding limits by 50% and adds USDC support.
- New Pre-Buy and transparency features increase BFUSD flexibility.
Major overhauls announced on Binance’s reward-bearing margin asset BFUSD by Binance Futures. The changes included the addition of USDC and the creation of the Pre-Buy and Pre-Redeem system. Another enhancement was the introduction of transparency tools to increase efficiency. Holding limits for BFUSD were also raised by 50 percent in response to skyrocketing client demand.
As the circulation amount of BFUSD has already exceeded 760 million since the start of November 2024, along with a reserve fund of 7.2 million USDT, it reflects the confidence of users. It will support USDC so that users can buy and redeem BFUSD using USDC, further simplifying the reward in one of the most popular stablecoins. Stablecoin support expansion fits into Binance’s goal to meet liquidity needs and provide more options for its users.
Binance Futures is upgrading BFUSD with user-friendly features.
Binance is launching BFUSD along with some friendly user features. It will introduce two new functions that will help the users ensure their BFUSD allocations at high demand or limited supply times, Pre-Buy and Pre-Redeem. The update increases user confidence and flexibility in portfolio management.
Apart from that, Binance has implemented three new data metrics in this update to promote transparency. These are a few of the data metrics- historical charts demonstrating the trends on APYs, solvency metrics having the BFUSD supply and trend of collateral, and more into the collateral pool, all of which enhance transparency. The essence is to better clarity on the funding and backing of BFUSD.
Jeff Li, VP of Product at Binance added, “Crypto is evolving quickly, and innovative solutions play a crucial role in meeting user needs. BFUSD is an efficiency tool that is easy to use and will be exciting to make even friendlier while continuing to prioritize community feedback.”
BFUSD receives some Binance Zero Purchase Fees as a Promotion until 31 March 2025. Moreover, new users can also have a chance of receiving up to 100% Bonus APY rewards until January 29, 2025. The best time has come to dive deep into the advanced features of BFUSD.
These changes prove that Binance is above the rest as it offers solutions that are novel and user-centric, hence, BFUSD can boost adoption and confidence.
