Binance Dangles $800K in XRP to Lure RLUSD Holders — Margin Borrowers Get a 60% Haircut 💸

Binance will distribute $800,000 worth of XRP to holders of the Ripple USD (RLUSD) stablecoin under a new four-week airdrop campaign beginning September 25, the exchange said Thursday. The promotion expands rewards previously limited to selected users and is designed to grow RLUSD holdings and XRP liquidity across Binance's Spot, Funding, Earn, and Margin products.

Under the program, all eligible users across the four account types will receive XRP payouts every Friday through October 23. Rewards will be weighted by balance, with bonus payouts for users who increase their RLUSD holdings or subscribe to RLUSD Simple Earn products. The campaign runs alongside Binance's broader push to scale adoption of the dollar-pegged stablecoin issued by Ripple.

Binance introduced a reduction for users who fund RLUSD balances through borrowed assets. RLUSD acquired by borrowing stablecoins in Margin accounts — including USDT, USDC, U, USD1, and FDUSD — will be counted at 40% of the held amount, applying a 60% haircut to eligible balances. The exchange said the measure is intended to prevent leveraged stablecoin swaps from qualifying for full rewards.

The promotion reinforces ties between the world's largest crypto exchange and Ripple, whose RLUSD stablecoin has been the focus of an expanding list of trading and lending integrations since launch. Binance framed the campaign as part of its ongoing effort to support the RLUSD ecosystem and XRP liquidity, with payouts denominated in XRP rather than RLUSD or fiat.

Eligible users must hold RLUSD in supported Binance account types during each weekly snapshot period. The exchange has not disclosed whether the campaign will be extended beyond the four-week window or renewed with modified parameters. Rewards will be credited directly to user XRP balances after each weekly distribution.