Binance XRP Rewards Campaign Spreads Access to $2.4 Billion RLUSD Stablecoin

Binance has launched an $800,000 XRP rewards campaign for holders of its RLUSD stablecoin. The program aims to incentivize users to hold RLUSD through various Binance accounts, including Spot, Funding, Earn, and Margin.

The rewards will be distributed every Friday until October 23, with a total of $800,000 worth of XRP being given away over the four-week period. Users can earn additional rewards by increasing their RLUSD holdings or allocating funds to RLUSD Simple Earn.

Margin accounts have specific requirements, including a 60% haircut on RLUSD gained through borrowed stablecoins. The calculation will take into account liabilities related to USDT, USDC, USD1, and FDUSD in Margin accounts.