Binance Launches New Tiered Trading Fee Discount Program and Adjusts BNB Discount Rate

Fellow Binancians,

In accordance with our whitepaper, Binance will adjust the discount rate that can be applied to trading fees using the BNB token. The BNB discount rate will be adjusted from 50% to 25% at 2018/07/20 4:00 AM (UTC), as per the excerpt from our whitepaper below.  

Additionally, to show our appreciation for the continuous support received from our users, Binance will introduce a new Tiered Trading Fee Discount Program starting (and applicable) from 2018/07/21 01:00 AM (UTC), detailed in the table below:

Program Rules:

1. At 00:00 AM (UTC) every day, Binance will evaluate your total trading volume over the past 30-day period and your current BNB balance. If you meet both conditions required to be eligible for a specific Tier, your Tier level and corresponding Maker/Taker fees will be updated one hour later at 01:00 AM (UTC) each day.
   For example: If you are currently in the General Tier and your trading volume in the past 30-day period was 500 BTC (VIP 2) and you have a balance of 50 BNB (VIP 1), then you will be upgraded to the VIP 1 Tier (Maker 0.09% / Taker 0.10%).
2. The above trading fee discounts for each Tier are in effect for 24 hours from 01:00 AM (UTC).
3. This trading fee program is independent of other existing programs. You are still able to benefit from other programs, such as the 25% fee discount when paying with BNB.

Taker: When you place an order that is immediately filled in its entirety (for example a market order) you are a “taker,” and you pay a “taker” fee for this. The idea is that you are “taking” the price you want, right now, generally by buying or selling limit orders sitting on the books.

Maker: When you place an order that doesn’t fill immediately (for example a limit order far from market price), you are a “maker,” and you can expect to pay a reduced “maker” fee for this. As noted above, this terminology comes from the fact that placing limit orders on order book helps to “make the market,” (it makes you a “market maker”).

Thanks for your support!

Binance Team

2018/07/19

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