On Wednesday, Binance launched the second phase of its crypto lending platform, Binance Lending. Binance announced on August 26th that it will launch a lending platform on August 28th.
— Binance (@binance) 26 August 2019
Phase one went live on August 28th which offered 14-day fixed-term lending products for Tether(USDT), Binance Coin(BNB), and Ethereum Classic(ETC). They published an article on their website in which they explained what the second phase is all about. The second phase offered support for three additional cryptocurrencies: Bitcoin(BTC), Ether(ETH), and Cardano(ADA).
Below are the details of the lending products that are currently on offer:
The subscription period is from September 4th to September 5th and follows the “first-come-first-served” format. The interest calculation period will start on September 5th.