Binance, one of the leading cryptocurrency exchanges, has announced updates to its Fiat Liquidity Provider Program. The program will now include the addition of MXN and CZK markets, providing more options for liquidity providers. The update will take effect on April 10, 2024.
Binance is constantly working to enhance its services and provide better opportunities for its users. In line with this commitment, the exchange has made significant updates to its Fiat Liquidity Provider Program.
Starting from April 10, 2024, Binance will add MXN (Mexican Peso) and CZK (Czech Koruna) markets to the Fiat Liquidity Provider Program. This expansion aims to offer more opportunities for liquidity providers to participate and contribute to the platform.
In addition to the new markets, Binance has also implemented a performance review mechanism for liquidity providers. Under this mechanism, providers will be reviewed weekly based on their performance. This evaluation will help ensure the quality and efficiency of the liquidity provided.
To incentivize liquidity providers, Binance will distribute maker fee rebates based on their trading performance across the selected fiat markets. Effective from April 16, 2024, liquidity providers will receive rebates on their previous week’s trading performance. The rebate amount will be 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 for participants. Qualified participants will receive maker rebates and standard VIP taker fees on all pairs across the eligible fiat markets. On the other hand, 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. They must also 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 deemed to be wash trades or involve illegal bulk account registrations, as well as trades that display attributes of self-dealing or market manipulation.
Binance continues to prioritize the security and integrity of its platform, and these updates to the Fiat Liquidity Provider Program are aimed at fostering a robust and efficient trading environment for its users.
Image source: Shutterstock
Credit: Source link
