KuCoin Crypto Lending Product Services Upgrade
01/10/2024, 17:32:24
Dear KuCoin Users,
We are committed to continuously improving our services to ensure a stable and efficient experience for our users. In line with this commitment, we'll schedule an upgrade of our Crypto Lending services on January 19, 2024 (UTC).
Key Upgrades Include:
1. Service Renaming: The "Crypto Lending" service will be rebranded as “Crypto Lending Pro.”
Revised Lending Amounts for USDT;
2. The minimum initial lending out amount for USDT will be set to 700,000 USDT. Following the initial lending, the minimum renewal amount required will be more than 1 USDT.
*Note: This adjustment currently applies only to USDT. Detailed information will be available under the “Crypto Lending Pro” section for future modifications involving other tokens.
3. Impact on Existing Users:
If your current lending amount is less than 700,000 USDT, your next lending request must collectively reach this new threshold.
For example, consider User A, who has currently lent out 500,000 USDT in the Crypto Lending market. After the upgrade, to meet the new threshold, User A needs to increase their lending to 700,000 USDT. This requires a single loan request of over 200,000 USDT (500,000 USDT already lent + 200,000 USDT additional, totaling >=700,000 USDT). Once User A reaches this initial amount, any future lending requests can be any amount over 1 USDT.
* Should a user choose not to meet the initial threshold, their previously lent-out funds and interest payments on these funds will remain unaffected. However, they cannot initiate new lending requests and can only redeem their existing loans.
*In addition, the borrower of the fund will not be affected.
Risk Warning: KuCoin Earn is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks. The KuCoin Group is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right to the final interpretation of the activity. Kucoin is not responsible for any loss of assets caused by the user's own investment decisions or related behaviors, and the user should assume full responsibility.
Thank you for your support and understanding!
The KuCoin Team
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