[Digital Today intern reporter Seung-a Yoo] Binance is running a rewards program for holders of Ripple’s stablecoin RLUSD, distributing a total of 600,000 XRP.

Blockchain media outlet U.Today reported on Oct. 21 local time that the program will run from Oct. 23 to Nov. 20, with rewards paid via weekly airdrops. The first distribution is scheduled for Oct. 30.

To participate, users must hold at least 0.01 RLUSD in one of the following accounts: spot, funding, Earn or margin. Users do not need to hold XRP separately. Rewards are calculated based on RLUSD balances held in eligible accounts.

The specific reward amount is determined by factors including a user’s average RLUSD balance and the annual percentage rate (APR) set by Binance. There is no individual reward cap, but the program will end early if the total allocation of 600,000 XRP is fully used.

Binance has also prepared additional benefits to increase reward multipliers. Users who increase their RLUSD holdings compared with the previous 2 weeks will receive a 1.2 times reward multiplier on the increased amount. Users who deposit RLUSD into Binance’s on-demand coin deposit service, Simple Earn Flexible Savings, will receive a 1.1 times reward multiplier.

The two benefits can be applied together. Binance said it will apply a reward multiplier of up to 1.3 times for users who meet both conditions.

The program is designed to allow users to receive XRP rewards by holding RLUSD without holding XRP directly. Actual reward amounts vary depending on factors including average RLUSD balances, the increase in holdings and whether a user subscribes to the deposit product. Participants should check eligible accounts, minimum holding requirements and the conditions for applying reward multipliers.