* This upgrade has been postponed until further notice. Please refer to this announcement for the latest information.
Binance is upgrading the USDⓈ-Margined Futures Liquidity Provider Program, where eligible users can now qualify for the program with lower maker volume requirements across all tiers.
The new maker volume criteria will take effect from 2023-04-03 00:00 (UTC), while the maker fee rebates will be updated at 2023-04-11 04:00 (UTC).
Highlights of the Upgraded USDⓈ-Margined Futures Liquidity Provider Program:
- The quoting score stream has been removed from the review system.
- Lowered maker volume requirements for each tier.
- Users can now qualify for the program by hitting either one of the two benchmarks. Refer to the table below for details.
- Weekly USDⓈ-M Futures maker volume percentage
- Weekly USDⓈ-M Futures maker volume percentage (excluding maker volume on BTC and ETH pairs)
The new Binance USDⓈ-Margined Futures Liquidity Provider Program is as follows:
Weekly USDⓈ-M Futures Maker Volume %
Weekly USDⓈ-M Futures Maker Volume % (Excluding That on BTC and ETH Pairs)
Maker Fees on USDT-M Pairs
Maker Fees on BUSD-M Pairs
Taker Fees on USDⓈ-M Futures
Standard maker fees as per user’s VIP level
Standard maker fees as per user’s VIP level
How to Participate:
- Users who have a minimum futures trading volume of 100,000,000 BUSD equivalent or a minimum spot trading volume of 20,000,000 BUSD equivalent over a 30-day period on Binance or other platforms may apply for this program. Successful applicants will be eligible for a three-week grace period, where they will be granted Tier 3 maker fee rebates, as well as an exemption from weekly reviews.
- Please provide proof of your trading volume to firstname.lastname@example.org or contact your sales or key account coverage manager to apply for the above program.
A: To be qualified by weekly USDⓈ-M Futures maker volume over the total Binance USDⓈ-M Futures maker volume:
- Weekly maker volume % = (USDⓈ-M Futures maker trading volume over the week / total Binance USDⓈ-M Futures maker trading volume over the week ) * 100%
- At the end of each week, the weekly maker volume % for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose maker volume % is equal to or above 0.05%.
B: To be qualified by weekly USDⓈ-M Futures maker volume (excluding BTC and ETH pairs) over the total Binance USDⓈ-M Futures maker volume (excluding BTC and ETH pairs):
- Weekly maker volume % (excluding BTC and ETH pairs) = USDⓈ-M Futures maker trading volume over the week (excluding BTC and ETH pairs) / total Binance USDⓈ-M Futures maker trading volume over the week (excluding BTC and ETH pairs) * 100%
- At the end of each week, the weekly maker volume % for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose maker volume % (excluding BTC and ETH pairs) is equal to or above 0.05%.
- Binance will provide daily and weekly reports detailing your performance.
- Liquidity providers will be reviewed on a weekly basis (Monday 00:00 UTC to Sunday 23:59 UTC).
- Maker fee rebates are paid immediately upon trade execution. Your eligibility to receive maker fee rebates is reviewed and adjusted once a week based on the previous week's performance on all qualified pairs.
- Fee tier adjustments are automatically updated every Tuesday at 04:00 (UTC).
- Participants with unqualified weekly results for three consecutive weeks will receive notification emails for two weeks, and if no improvements are observed, then the account will be removed from the program. New applications shall be submitted with a gap of one month from the expiration of the last trial.
- New participants will enjoy Tier 3 maker fee rebates (0.003% for USDT-margined pairs and 0.014% for BUSD-margined pairs) for the first three weeks. This is consistent with the fee settings prior to the upgrade.
- From the second week, if the performance of new participants qualifies them to obtain a tier higher than Tier 3, then these participants will enjoy higher maker fee rebates corresponding to the higher Tier.
- From the fourth week, only new participants who show qualified performance in the third week of the three-week grace period will enjoy maker fee rebates according to the aforementioned program structure.
- Participants who join the program for more than three weeks will have their fee settings updated each Tuesday at 04:00 (UTC) based on the previous week’s performance.
- The program’s main goal is to provide liquidity and depth to the Binance USDⓈ-Margined Futures market. We review the effectiveness of this program regularly. The program requirements will be adjusted periodically as new pairs are added and as market conditions change. New changes may be added with at least a week’s notice.
- All trading volumes and metrics related to the program are measured by Binance at its sole and absolute discretion.
- Self trades will be excluded from maker volume calculations.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
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Note: This announcement was updated on 2023-04-02 to clarify the upgrade plan as included in this announcement will be postponed until further notice.
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.