Dear User:
In order to provide users with the most valuable services, Binance reviews its projects from time to time. Binance will update the Coin-margined Futures Market Maker Plan on June 17, 2024 at 08:00 (ET).
Update highlights:
Starting from 08:00 (GMT+8) on June 17, 2024, the "Weekly Market Making Score Ranking" review for the coin-margined contract market maker program will be removed. Users can qualify for the program based on the new criteria in the table below;
Starting from approximately 12:00 (UTC) on June 25, 2024, the maker fee for Level 3 market maker accounts will be updated to -0.012%;
For users who meet the program’s criteria under the new rules, maker fee rebates will be updated around 12:00 ET on June 25, 2024;
Users can qualify for the program based on the new criteria in the table below.
New Binance Coin-margined Futures Market Maker Fee Structure:
way of participation:
Users with a 30-day futures trading volume of at least USD 100,000,000 or a spot trading volume of at least USD 20,000,000 on Binance or other platforms can apply to join the program.
After the application is approved, the user will be given a three-week assessment-free period, during which time they can enjoy the Level 3 maker fee discount;
Send an email to mmprogram@binance.com or contact your sales representative or account manager directly to provide proof of trading volume and apply for a probation exemption.
Assessment method:
Method 1: Assess the weekly maker volume of the user's coin-margin futures / the proportion of the total weekly maker volume of the Binance coin-margin futures market
The percentage of user weekly maker volume is: (user weekly maker volume of coin-margined futures / Binance platform coin-margined futures total weekly maker volume) * 100%;
At the end of each week, the trading volume ratio of each participant will be calculated. Qualified participants whose weekly maker volume ratio (percentage) of the coin-margin contract is not less than 1.0% will receive a maker fee rebate.
Method 2: Assess the weekly maker volume of users’ coin-margin contracts excluding BTC and ETH pairs / the proportion of the total weekly maker volume of coin-margin contracts excluding BTC and ETH pairs on Binance
The percentage of weekly maker volume of coin-margined contracts excluding BTC and ETH pairs by users is: (weekly maker volume of coin-margined contracts excluding BTC and ETH pairs by users / total weekly maker volume of coin-margined contracts excluding BTC and ETH pairs on Binance) * 100%;
At the end of each week, the trading volume ratio of each participant will be calculated. Eligible participants whose weekly maker volume ratio (percentage) of the coin-margin contract excluding BTC and ETH pairs is not less than 0.8% will receive a maker fee rebate.
Notice:
Binance will provide all participating users with detailed reports on daily/weekly market making performance;
Market making performance is assessed weekly, with the assessment period from 08:00 on Monday of the current week to 07:59 on Monday of the next week (GMT+8 time);
Maker fee rebates take effect immediately upon completion of each transaction; user maker fee adjustments will be based on their market making performance in the previous week;
The maker fee adjustment will be updated every Tuesday around 12:00 (ET8);
If a participant fails to pass the test for three consecutive weeks, he/she will be disqualified. Users must wait at least one month before resubmitting their application.
All new market makers will enjoy preferential maker fees for level 3 coin-margin contracts in the first three weeks.
Starting from the fourth week, users must meet the requirements to continue to enjoy the rate discount, and the level of discount depends on the user's performance in the last week of the trial period.
For market makers that participate in the program for more than three weeks, their fee structure will be updated every Tuesday at approximately 12:00 ET based on the performance of the previous week;
The main purpose of the Binance Coin-margined Futures Market Maker Program is to increase the liquidity and depth of the coin-margined futures market. Binance regularly evaluates the effectiveness of the program. The conditions for participating in the program may be adjusted due to factors such as the addition of new trading pairs and changes in market conditions. If there are any adjustments, Binance will try to inform you at least one week in advance. However, in special circumstances, Binance reserves the right to make changes at its own discretion without prior notice;
The maker trading volume of the self-fulfilled part will be excluded from the statistics;
If there is any malicious volume manipulation, batch registration of smurfs, self-buying and self-selling, mutual trading, or other cheating behaviors, Binance will strictly review and remove the resulting trading volume from the statistics;
All trading volumes and metrics related to this activity are measured at the discretion of CoinSec;
Binance reserves the right to reasonably determine and/or modify or change these Notices and Service Agreement, its eligibility terms and criteria, the selection and number of winners, and the timing of taking any action for important reasons, including but not limited to:
changes in applicable regulations or policies;
Obligations arising from laws or decisions issued by ordinary courts or public administration bodies;
Anti-money laundering or counter-terrorism financing rules;
Technical issues beyond Binance’s control;
The need to protect users from potential losses;
The need to protect Binance from reputational damage;
Extraordinary events or circumstances beyond Binance’s control (force majeure).
Please refer to Binance VIP and Institutional Services for more VIP details;
There may be discrepancies between the original English version and the translated version. If there are any discrepancies, please refer to the original English version for the latest or most accurate information.
Thank you for your support!
Binance Team
May 23, 2024
