Binance Upgrades Coin-Margined Futures Liquidity Provider Program (2023-07-10) | Binance Support

Binance 2023-06-27 03:00:00

Fellow Binancians,
Binance is upgrading the Coin-Margined Futures Liquidity Provider Program. With effect from 2023-07-10 00:00 (UTC), users may qualify for the program by meeting the weekly Coin-M Futures maker volume percentage requirement (excluding maker volume on BTC and ETH pairs). After the upgrade, eligible users can qualify for the program by fulfilling any one of the three requirements in the program across all tiers.The maker fee rebates will be updated at approximately 2023-07-18 04:00 (UTC) for users who qualify for the program based on the new criteria.
Highlights of the Upgraded Coin-Margined Futures Liquidity Provider Program:
The addition of one more qualification option to the program: Weekly Coin-M Futures maker volume percentage (excluding maker volume on BTC and ETH pairs)
The addition of one new tier for the weekly Coin-M futures maker volume percentage qualification option (i.e., Tier 2)
Users can now qualify for the program by fulfilling one out of the three requirements below:
Weekly Coin-M Futures maker volume percentage
Weekly Coin-M Futures maker volume percentage (excluding maker volume on BTC and ETH pairs)
Quoting ranking
The new Coin-Margined Futures Liquidity Provider Program is as follows:
 
         
          
          
           Tier
 
           Weekly Coin-M Futures Maker Volume Percentage
 
           And/Or
 
           Weekly Coin-M Futures Maker Volume Percentage (Excluding That on BTC and ETH Pairs)
 
           And/Or
 
           Quoting Ranking
 
           Maker Fees on Coin-M Pairs
 
           Taker Fees on Coin-M Futures
 
          
 
           Regular
 
           < 0.8%
 
           And
 
           < 0.4%
 
           And
 
           Below top 75%
 
           Standard maker fees as per user’s VIP level
 
           Standard taker fees as per user’s VIP level
 
          
 
           1
 
           ≥ 0.8%
 
           Or
 
           ≥ 0.4%
 
           Or
 
           Top 50 - 75% (excluding top 50%)
 
           -0.015%
 
          
 
           2
 
           ≥ 1%
 
           Or
 
           ≥ 0.5%
 
           Or
 
           Top 25 - 50% (excluding top 25%)
 
           -0.020%
 
          
 
           3
 
           ≥ 1.5%
 
           Or
 
           ≥ 0.75%
 
           Or
 
           Top 25% 
 
           -0.023%
 
          
 
         
       
How to Participate:
Users who have a minimum futures trading volume of 100,000,000 USDT equivalent or a minimum spot trading volume of 20,000,000 USDT equivalent over a 30-day period on Binance or other platforms may apply for this program. 
Successful applicants will be eligible for a three-week grace period, where they will be granted Tier 3 maker fee rebates, and be exempt from weekly reviews.
To apply for this program, please provide proof of your trading volume to [email protected] or contact your sales or key account coverage manager.
How to Qualify for the Upgraded Coin-Margined Futures Liquidity Provider Program:
Option A: To qualify by weekly Coin-M Futures maker volume over the total Binance Coin-M Futures maker volume
Weekly Coin-M Futures maker volume percentage = (Coin-M Futures maker volume over the week / total Binance Coin-M Futures maker volume over the week ) * 100%
At the end of each week, the weekly Coin-M Futures maker volume percentage for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose maker volume percentage is equal to or above 0.8%
Option B: To qualify by weekly Coin-M Futures maker volume (excluding BTC and ETH pairs) over the total Binance Coin-M Futures maker volume (excluding BTC and ETH pairs)
Weekly Coin-M Futures maker volume percentage (excluding BTC and ETH pairs) = (Coin-M Futures maker volume over the week (excluding BTC and ETH pairs) / total Binance Coin-M Futures maker volume over the week (excluding BTC and ETH pairs)) * 100%
At the end of each week, the weekly maker volume percentage (excluding BTC and ETH pairs) for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose maker volume percentage (excluding BTC and ETH pairs) is equal to or above 0.4%.
Option C: To qualify by quoting ranking
Weekly ranking is based on weekly liquidity provider maker scores. All liquidity providers who score above zero are ranked.
Weekly maker score = Sum of all seven daily maker scores over the week.
Daily maker score = Sum of maker scores on each pair (i.e., maker volume * qualified percentage * pair weight).
At the end of each week, participants are ranked by their weekly maker scores, and maker fee rebates are awarded to the top 75% of liquidity providers whose score is above zero.
Notes:
Binance will provide daily and weekly reports to each participating liquidity provider, with details on their respective performances.
Liquidity providers will be reviewed on a weekly basis (Monday 00:00 UTC to Sunday 23:59 UTC).
Maker fee rebates are paid immediately upon trade execution. Liquidity providers’ eligibility to receive maker fee rebates is reviewed and adjusted once a week based on the previous week's performance on all qualified pairs.
Fee tier adjustments are automatically updated every Tuesday at around 04:00 (UTC).
Participants with unqualified weekly results for three consecutive weeks will be notified via email for two weeks. If no improvements are observed, the account will be removed from the program. Liquidity providers are able to reapply to the program one month after their access to the program has expired.
Successfully new applicants to the program will enjoy Tier 3 maker fee rebates (i.e., 0.023%) during the three-week grace period. 
From the fourth week, only new participants who show qualified performance in the third week of the three-week grace period will enjoy maker fee rebates according to the aforementioned program structure.
Participants who join the program for more than three weeks will have their fee settings updated each Tuesday around 04:00 (UTC) based on the previous week’s performance.
The program’s main goal is to provide liquidity and depth to the Binance Coin-Margined Futures market. Binance will review the effectiveness of this program regularly. The program requirements will be adjusted periodically as new pairs are added and as market conditions change. Binance will, on a best efforts basis, provide one week’s notice before introducing any new changes to the program. However, where this is not practicable, Binance reserves the right to, at its sole discretion, make changes without prior notice.
All trading volumes and metrics related to the program are measured by Binance at its sole and absolute discretion.
Self trades will be excluded from maker volume calculations.
Binance reserves the right to, at its sole discretion, remove accounts from the program.
Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
Thanks for your support!
Binance Team
2023-06-27

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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