Binance Upgrades USDⓢ-Margined Futures Liquidity Provider Program (2023-06-05)
Binance is upgrading the USDⓈ-Margined Futures Liquidity Provider Program. With effect from 2023-06-05 00:00 (UTC), users may qualify for the program by meeting the Weekly USDⓈ-M Futures maker volume percentage requirement (excluding maker volume on BTC and ETH pairs). After the upgrade, eligible users can qualify for the program with more options across all tiers.
The maker fee rebates will be updated at approximately 2023-06-13 04:00 (UTC) for users who qualify for the program based on the new criteria.
Highlights of the Upgraded USDⓈ-Margined Futures Liquidity Provider Program:
The addition of one more qualification option to the program: Weekly USDⓈ-M Futures maker volume percentage (excluding maker volume on BTC and ETH pairs)
Users can now qualify for the program by fulfilling one out of the three requirements
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:
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, and exempt from weekly reviews.
To apply for this program, please provide proof of your trading volume to firstname.lastname@example.org or contact your sales or key account coverage manager.
A: To qualify by weekly USDⓈ-M Futures maker volume over the total Binance USDⓈ-M Futures maker volume:
Weekly USDⓈ-M Futures 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 USDⓈ-M Futures 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 0.04%.
B: To qualify 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 USDⓈ-M Futures 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 % (excluding BTC and ETH pairs) 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 0.04%.
C: To qualify by quoting ranking:
Weekly ranking is based on weekly liquidity provider maker scores (all liquidity providers who score above zero are ranked).
Weekly maker score = Sum of seven daily maker scores.
Daily maker score = Sum of maker scores on each pair (maker volume * qualified % * pair weight).
At the end of each week, participants are ranked by their weekly maker scores, and maker fee rebates are awarded to participants in the 75th percentile of liquidity providers whose score is above zero.
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 around 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 around 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. Binance will, on a best efforts basis, provide one week’s notice before introducing any new changes to the program. However, where this is not practicable, Binance reserves the right to, at its sole discretion, make changes without prior 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.
Binance reserves the right to, at its sole discretion, remove accounts from the program.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.