Binance Rolls Out Covered-Call Strategy for Long-Term Bitcoin Holders
Binance has announced that it has distributed over $10 billion in yield to users since 2019 across various products, including Flexible and Locked Products, Launchpool, Megadrop, Binance Alpha, and HODLer Airdrops.
The exchange also published a detailed overview of its yield-generating offerings, stating that stablecoin holders have received approximately $1.2 billion in yield since 2022, with annualized rates notably higher than some traditional savings accounts.
Binance has introduced the BTC Yield (BTCY) product, a covered-call strategy designed for long-term Bitcoin holders. This allows users to subscribe with BTC, after which Binance implements covered-call options strategies; returns are distributed weekly in BTC, although there are associated fees, risks to principal, and no guarantee of consistent payouts.