Binance, one of the leading cryptocurrency exchanges, has announced updates to its fiat liquidity provider program. The program now adds MXN and CZK markets, giving liquidity providers more options. The update will take effect from April 10, 2024.
Binance is constantly working to improve its services and provide better opportunities for its users. In accordance with this promise, exchange We have significantly updated our fiat liquidity provider program.
Starting April 10, 2024, Binance will add the MXN (Mexican Peso) and CZK (Czech Koruna) markets to its fiat liquidity provider program. This expansion aims to provide more opportunities for liquidity providers to participate and contribute to the platform.
In addition to the new market, Binance has also implemented a performance review mechanism for liquidity providers. Under this mechanism, providers are reviewed weekly based on their performance. This assessment helps ensure the quality and efficiency of the liquidity provided.
To incentivize liquidity providers, Binance distributes maker fee rebates based on trading performance in selected fiat markets. From April 16, 2024, liquidity providers will receive a rebate for the previous week’s trading performance. The rebate amount is determined by the user’s 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 to participants. Eligible participants will receive maker rebates and standard VIP taker fees on all pairs in eligible fiat markets. On the other hand, ineligible participants do not enjoy maker fees and standard VIP taker fees for all fiat pairs in that market.
To participate in the fiat liquidity provider program, users must have trading volume equivalent to 20,000,000 USDT for 30 days on Binance Spot and Margin or other platforms. They must also demonstrate a quality liquidity provision strategy. Interested users can apply for a trial period by providing proof of trading volume to mmprogram@binance.com or contacting our sales or key account teams.
It is important to note that Binance reserves the right to disqualify any transaction that exhibits attributes of self-dealing or market manipulation, as well as any transaction that is deemed to be a wash trade or involves illegal bulk account registration.
Binance continues to prioritize the security and integrity of its platform, and these updates to its fiat liquidity provider program aim to create a robust and efficient trading environment for users.
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