CoinDesk reported that Binance has launched 'BTC Yield,' a product on Binance Earn that allows users to aim for additional profits without selling BTC. This product uses a covered call strategy, selling call options using deposited BTC, and uses option premiums as a source of income. Users who deposit BTC receive BTCY, which represents their deposit share. Profits are provided in two ways: a portion of the premium is converted into BTC and paid to the user's spot account every Friday, while the remainder is used to increase the BTC conversion value of BTCY. However, Binance takes 15% of the option premium as a fee, does not guarantee the principal, and does not guarantee weekly profit distribution. The media explained, "If call options are exercised in a bull market, upside profits may be limited, potentially underperforming the returns from holding spot BTC if the BTC price rises significantly."
