Fellow Binancians,
Binance will be updating its Fiat Liquidity Provider Program at 2024-04-10 00:00 (UTC).
Key Updates:
MXN market will be added into the Fiat Liquidity Provider Program starting from 2024-04-10 00:00 (UTC).
CZK market will be added into the Fiat Liquidity Provider Program starting from 2024-04-11 10:00 (UTC).
Delisted markets are removed from the fiat market list.
The qualification review of new markets will be effective starting from 2024-04-10 00:00 (UTC). Liquidity providers will be reviewed weekly based on the new performance review mechanism.
Effective from 2024-04-16 00:00 (UTC), maker fee rebates will be distributed to liquidity providers based on their previous week’s trading performance across spot trades on the selected fiat markets.
Mechanism
Calculation Formula
[User’s Weekly Spot Maker Volume % of the Total Binance Spot Maker Volume in Each Fiat Market] = [Each Account’s Weekly Spot Maker Volume in Each Fiat Market] / [Weekly Maker Volume in Each Fiat Market on Binance Spot].
[Weekly Maker Volume] = Sum of the Seven [Daily Maker Volume] During the Week.
[Daily Maker Volume] = Sum of Maker Volume on Binance Spot markets on the Day.
Day: Each day runs from 00:00 (UTC) to 23:59 (UTC).
Week: Each week runs from 00:00 (UTC) on Monday to 23:59 (UTC) on Sunday.
Program Incentives (Applicable to participants qualifying for at least one of the eligible fiat markets)
Qualified Fiat Markets: Maker rebates and standard VIP taker fees on all pairs across the eligible fiat markets.
Unqualified Fiat Markets: Zero maker fees and standard VIP taker fees on all fiat pairs across these fiat markets.
How to Participate
Users whose 30-day trading volume exceeds 20,000,000 USDT equivalent on Binance Spot and Margin or other platforms, and exhibit quality liquidity providing strategies, are invited to join the Fiat Liquidity Provider Program. To apply for a trial period, please provide proof of your trading volume to mmprogram@binance.com, or contact your sales or key account coverage team.
Notes:
This program is limited to the specified fiat markets listed above on Binance.com.
Maker rebates will be settled in fiat currency regardless of the quote asset (i.e., EUR for BTC/EUR or EUR/USDT).
Liquidity Providers’ rebate eligibility will be based on their performance on eligible fiat pairs across spot trades on a weekly basis.
Maker fee rebates are effective from 00:00 (UTC) each Tuesday to 23:59 (UTC) the next Monday.
Maker fee rebates are paid once per hour to each master or sub-account that executes the trades.
Users may check their rebate history of each account by visiting Orders > Transaction History > Distribution > Fiat and Spot. API users may query via GET /sapi/v1/asset/assetDividend.
Users who have participated in both fiat and spot liquidity provider programs will enjoy the more favorable rebate ratio from either of the programs.
Users whose account performance does not qualify them for maker rebates of any eligible fiat market for three consecutive weeks will be removed from the program.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk account registrations, as well as trades that display attributes of self-dealing or market manipulation.
All trading volume and metrics related to the promotion are measured by Binance at its sole and absolute discretion.
Binance reserves the right to amend or terminate this program at its sole discretion due to important reasons, including but not limited to:
Changes in applicable regulations or policies;
Obligations arising out of law or decisions issued by common courts or public administration;
Anti-money laundering or combating financing terrorism rules;
Technical issues beyond our control;
Necessity to protect users from potential losses;
Necessity to protect Binance from the loss of reputation;
Extraordinary events or circumstances beyond our control (force majeure).
Refer to the VIP and Institutional Services page for more details.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-04-08
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
Find us on
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Past performance is not a reliable predictor of future performance. Before trading, please take into consideration your level of experience, purchase objectives, and seek independent financial advice, if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on your individual circumstances. Not financial advice. For more information, see our Terms of Use and Risk Warning.
