Binance, a leading cryptocurrency exchange, has announced updates to its Fiat Liquidity Provider Program. The program will now include MXN and CZK markets, providing more options for liquidity providers. The update will be effective from April 10, 2024.
Binance is continuously improving its services to offer better opportunities for users. To fulfill this commitment, the exchange has made significant updates to its Fiat Liquidity Provider Program.
Starting from April 10, 2024, Binance will introduce MXN (Mexican Peso) and CZK (Czech Koruna) markets to the Fiat Liquidity Provider Program. This expansion aims to provide more opportunities for liquidity providers to engage and contribute to the platform.
In addition to the new markets, Binance has implemented a performance review mechanism for liquidity providers. Providers will undergo weekly evaluations based on their performance to ensure the quality and efficiency of the liquidity provided.
To incentivize liquidity providers, Binance will distribute maker fee rebates based on their trading performance in the selected fiat markets. Starting from April 16, 2024, providers will receive rebates on their previous week’s trading performance determined by their weekly spot maker volume as a percentage of the total Binance spot maker volume in each eligible fiat market.
The updated Fiat Liquidity Provider Program offers various incentives for participants. Qualified participants will receive maker rebates and standard VIP taker fees on all pairs across eligible fiat markets. Unqualified participants will enjoy zero maker fees and standard VIP taker fees on all fiat pairs in those markets.
To join the Fiat Liquidity Provider Program, users must have a 30-day trading volume of over 20,000,000 USDT equivalent on Binance Spot and Margin or other platforms, and exhibit quality liquidity providing strategies. Interested users can apply for a trial period by providing proof of their trading volume to mmprogram@binance.com or contacting their sales or key account coverage team.
It is important to note that Binance reserves the right to disqualify trades that are considered wash trades, involve illegal bulk account registrations, or display attributes of self-dealing or market manipulation. Binance prioritizes the security and integrity of its platform, and these updates to the Fiat Liquidity Provider Program aim to foster a robust and efficient trading environment for users.
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