Recently, I noticed that the USDC/USDT exchange rate on Binance has risen to 1.001, a significant deviation. The increased "expensiveness" of USDC indicates stronger demand. This is typically due to two reasons: 1. Outflow of USD funds; 2. Binance promotions. For example, Binance is currently offering a 2% APR bonus to USDC held in futures or unified accounts, provided certain conditions are met. Frequent futures traders are likely familiar with this: when the market isn't at a suitable level, they don't trade, but still need to maintain a certain amount of USDC in their account as margin. This money is meant to remain in the account anyway, so an extra bonus is certainly welcome. This aligns well with users' practical needs. The rules are also quite accessible. From October 27th to November 24th, there are four periods. Each week, you only need to complete $2,500 of USDC-margined futures trading to receive the weekly bonus. The bonus is calculated independently each week, so even if you miss the first week, you can still receive it in subsequent weeks. This improves capital efficiency for users already using USDC as margin. Especially with a unified account, USDC balances in contracts and leverage can be included. Assuming an average daily net holding of 500,000 USDC, an additional 192 USDC could be earned that week (i.e., 500,000 × 2% ÷ 365 × 7). Of course, the 2% APR is only an annualized representation of the promotional reward. Simply increasing trading volume to earn rewards might be counterproductive. Therefore, I think this promotion is more suitable for users who already hold USDC margin on Binance and have a need for USDC-margined contract trading. For traders, capital utilization is a crucial practical issue and a direction worth optimizing in the long term.