Spot Liquidity Provider Program Updates announced by Binance.💫

Exciting Updates to Binance’s Spot Liquidity Provider Program

Binance, a prominent cryptocurrency exchange, has unveiled significant enhancements to its Spot Liquidity Provider Program, set to launch on September 9, 2024. These improvements are designed to elevate the quality and competitiveness of services provided to users by Binance.

Key Highlights

The forthcoming updates bring several notable modifications:

The Weekly Maker Volume Percentage Requirement benchmark for Tier 4 will be adjusted from 2.0% to 1.0%.
A new qualification pathway will be introduced, enabling an account to reach Tier 1 by attaining either 25,000,000 USD equivalent in Weekly Maker Volume or meeting a 0.05% Weekly Maker Volume Percentage Requirement.
The Maker Fee (Rebate) ratio for Tier 4 will be modified from -0.01% to -0.008%.
Individuals joining via Manual Application will benefit from an extended trial period of four weeks, as opposed to the previous three-week trial.
These revised qualification criteria and trial period adjustments will be implemented on September 9, 2024, while the new Maker Fee (Rebate) ratio amendment will take effect from September 17, 2024.

Participation Methods

Automatic Participation: Users who meet or exceed Tier 1 requirements based on their Weekly Maker Volume will be automatically enrolled in the Binance Spot Liquidity Provider Program.
Manual Application (trial period): Individuals with a 30-day Maker Volume below Tier 1 requirements but with a trading volume exceeding 20,000,000 USD equivalent on the Binance Spot market can apply for a four-week trial. During this period, they will benefit from Tier 1 maker fee rebates. Interested parties can apply by contacting [email protected] or reaching out to their Key Account Coverage or sales representative with proof of eligibility.

Terms and Conditions

The program is restricted to spot and margin pairs listed on Binance.com.
Participants failing to qualify for any eligible program tier for three consecutive weeks based on their account performance will be removed from the program.
Binance retains the right to disqualify individuals engaging in fraudulent practices, including tampering with program code, using unauthorized software, engaging in wash trading, opening illegal accounts in bulk, conducting self-dealing, or manipulating markets.

Conclusion

Binance is continuously refining its offerings to cater to the diverse needs of its user base, ensuring they receive competitive and valuable services in a rapidly evolving market landscape.

For the official announcement and more information, please refer to Binance’s website.

Hot Take: Stay Informed, Stay Ahead!

By keeping abreast of the updates to Binance’s Spot Liquidity Provider Program, you position yourself to take advantage of the enhanced benefits and opportunities it offers. Take the necessary steps to explore these changes and leverage them to optimize your trading experience on Binance.