Binance, one of the leading cryptocurrency exchanges, has announced updates to its Fiat Liquidity Provider Program. The program now includes 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 improve its services and provide better opportunities for its users. In line with this commitment, the stock exchange has made significant updates to its Fiat Liquidity Provider Program.
Starting April 10, 2024, Binance will add the 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 participate and contribute to the platform.
In addition to the new markets, Binance has also implemented a performance rating mechanism for liquidity providers. Under this mechanism, providers are assessed 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 discounts based on their trading performance on the selected fiat markets. Effective April 16, 2024, liquidity providers will receive rebates on the previous week’s trading performance. The discount amount is determined by the user’s weekly spotmaker volume as a percentage of the total Binance spotmaker volume in each eligible fiat market.
The updated Fiat Liquidity Provider Program offers various incentives for participants. Qualified participants will receive maker discounts and standard VIP taker fees on all pairs in the eligible fiat markets. On the other hand, non-qualified participants will enjoy zero maker fees and standard VIP taker fees for all fiat pairs in those markets.
To participate in the Fiat Liquidity Provider Program, users must have a 30-day trading volume of more than 20,000,000 USDT on Binance Spot and Margin or other platforms. They should also exhibit high-quality liquidity-providing strategies. Interested users can request a trial by providing proof of their trading volume to mmprogram@binance.com or by 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 or involve illegal bulk account registrations, as well as trades that exhibit characteristics 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 promoting a robust and efficient trading environment for its users.
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