Binance Earning / Locked DeFi

[hugeblack]

It is the first time that I have tried this service and I wanted to know how it works.
I quickly read F.A.Q and it does not seem that it is difficult, so you click on several buttons and wait for some days.
So I decided to give it a try with 1inch coin

Locked a small amount, about 20.21976000 ( 7% APY Locked staking/ week,) and after waiting for two weeks, a balance of 20.36 appeared into my account.
I was assuming that I would get 1.4 Inch per week, which means about 2.82 for the two weeks. Are these calculations correct or am I wrong about something? The amount I got in the two weeks is .14 (0.6272$) Inch not 2.82 (12.7232$.)

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[TryNinja]

It's 7% APY (Annual Percentage Yield), so what you would get after a whole year, and not 7% every two weeks.

[Review Master]

@TryNinja well explained about the APY and I'm just some extra info about it. If any yield is set on APY like 7% APY, than it's the annual return. But binace add some features for yield farmers which is adding weekly locking period to get those rewards without making any kind of transections and it's saved the transection fees for those yield farmers. BTW, OP can participate in the 1inch-Bnb farming campaign where apy is 82% which is greater than binance apy.

[mk4]

BTW, OP can participate in the 1inch-Bnb farming campaign where apy is 82% which is greater than binance apy.

Such APYs are going to be really inconsistent. As more people stake, the APY goes down. Heck, even a 20%+ APY of anything is unrealistic. And don't get me started with the liquidation risks. Though I'm personally not a fan of BlockFi/Celsius, if I were to be forced to pick platforms I'd pick either compared to "DeFi" yield farming.