Binance Unleashes $800K XRP Rewards for RLUSD Holders

Binance, the world's largest cryptocurrency exchange, has launched a Hold to Earn campaign for RLUSD holders. The campaign offers $800,000 worth of XRP rewards to users who hold RLUSD in their Spot, Funding, Earn, or Margin Accounts.

The campaign starts on September 25 and runs until October 23. Users will receive rewards every week instead of waiting until the end of the campaign. Binance will distribute the rewards on October 2, 9, 16, and 23.

To qualify for the campaign, users need to hold at least 0.01 RLUSD in eligible accounts. Binance will check users' balances through random hourly snapshots during the campaign. The reward will depend on the user's average qualifying balance over seven days and the promotional APR available on the distribution day.

The campaign also offers an additional reward boost for eligible users who place their increased RLUSD amount in Simple Earn Flexible Savings. Binance will apply a 1.3x multiplier to the reward calculated on that incremental amount.