Binance Offers $800,000 in XRP Rewards to Boost RLUSD Usage

Binance has launched a new campaign to encourage RLUSD holders to contribute liquidity and usage. The campaign offers XRP rewards over four weeks, with a total prize pool of $800,000.

Each week from July 17 to August 14, approximately $200,000 in XRP will be allocated to eligible users who meet specific conditions. These include maintaining a minimum daily balance of 0.01 RLUSD and an average daily trading volume of at least $500 in Margin or Futures.

Binance has implemented rules to prevent abuse, such as a 60% haircut on RLUSD obtained by borrowing other stablecoins. This ensures that rewards are allocated to users genuinely contributing liquidity.