Binance Spot Liquidity Provider Program Upgrade (2022-02-14)
2022-02-14 09:13
Fellow Binancians,
As we strive to improve our services for users. Binance is upgrading the Spot Liquidity Provider Program. Qualified Liquidity Providers can enjoy higher maker fee rebates of up to 0.01% and higher API order limits.
Timeline:
The maker volume calculation starts from: 2022-02-21 00:00 (UTC)
The maker fees rebates will be updated at: 2022-03-01 00:00 (UTC)
New Binance Spot Liquidity Provider Program is as follows:
Tier
User’s Weekly Spot and Margin Maker Volume % of the Total Binance Spot and Margin Maker Volume
Automatic participation: Users with weekly maker volume that equals or exceeds Tier 1 requirements of the Binance Spot Liquidity Provider Program are automatically enrolled.
Manual application (trial period): Users whose current 30-day maker volume has not met Tier 1 requirements, but has a trading volume of over 20,000,000 BUSD on Binance Spot market can apply for a trial period of 3 weeks, where the users will enjoy Tier 1 maker fee rebates during this period. Please email mmprogram@binance.com or contact your Key Account Manager to provide proof to apply for the trial.
Note:
Calculation formula:
[Weekly maker volume %] of each account = [Weekly spot and margin maker volume] of each account / [Weekly maker volume] of Binance Spot and Margin markets.
[Weekly maker volume] = Sum of the 7 [Daily maker volume] during the week.
[Daily maker volume] = Sum of maker volume on Binance Spot market on the day.
Day: Each day runs from 00:00 AM (UTC) to 11:59 PM (UTC).
Week: Each week runs from 00:00 AM (UTC) on Monday to 11:59 PM (UTC) on Sunday.
Maker fee rebates effective from 00:00 AM (UTC) each Tuesday to 11:59 PM (UTC) next Monday.
For Spot Liquidity Providers who join this program before 2022-02-21 00:00 AM (UTC) and Liquidity Providers via manual application:
A 3-week trial period with Tier 1 maker fee rebates will be applicable to Spot Liquidity Providers who join the program by 2022-02-21 00:00 AM (UTC) and Liquidity Provider via manual application.
If the Liquidity Providers reach a higher tier during the 3 weeks, the maker fee rebates will be updated according to the actual tier.
After the 3-week trial concludes, if users are unqualified, their maker fees will be reverted back according to their actual VIP level.
Liquidity Providers via manual application are entitled to a maximum of 3 trial sessions with an application gap of 1 month from the last trial’s expiration.
The performance of Liquidity Providers will be reviewed on a weekly basis.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, as well as trades that display attributes of self-dealing or market manipulation.
If you are looking for dedicated Institutional and VIP services, please find it here.
All trading volume and metrics related to the program are measured by Binance at its sole and absolute discretion.
Risk Warning: Margin trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Margin.
