Binance Wallet launches a no-deposit yield feature, offering up to 4.75% annualized rewards for holding U, USDe, and USDS.

BlockBeats news, September 25, according to an official announcement, Binance Wallet has launched a deposit-free interest-earning feature. Users who hold eligible stablecoins in their wallet and activate this feature can earn yield rewards without the need for staking, locking, or interacting with smart contracts.

Currently, three assets are supported: U, USDe, and USDS. Among them, U supports the BSC network with an estimated annualized reward of 1.5%; USDe supports the Ethereum network with an estimated annualized reward of 4.75%; USDS supports the Ethereum network with an estimated annualized reward of 3.6%.

Binance stated that yield rewards will begin accruing after users activate the feature and hold eligible assets for at least 24 hours, with rewards accrued daily and distributed weekly. These rewards are funded by partner promotional campaigns and are not generated by the held assets themselves. In addition, Binance Wallet will subsequently launch a U leaderboard event, with a total prize pool worth $150,000, distributed in U tokens.