Binance Futures Announces Taker Program Update with Enhanced Discounts
Zach Anderson Jul 15, 2024 09:22
Binance Futures is updating its Taker Program to offer up to 20% discounts on USDT and USDC-margined contracts starting July 30, 2024.
Binance Futures has announced an update to its Taker Program, set to take effect from July 30, 2024, at 00:00 (UTC). According to Binance, eligible users will be able to enjoy a taker fee discount of up to 20% on USDT-margined and USDC-margined perpetual and delivery contracts.
Details of the Updated Taker Program
The updated Taker Program will be valid from July 30, 2024, to October 28, 2024. Users can submit applications for the Taker Program at any time if they have reached a total Futures trading volume of 100,000,000 USDT equivalent in the last 30 days. Eligibility will be assessed during the Program’s weekly review.
For users who have already applied for the previous Taker Program, there is no need to resubmit the form. These users will be automatically assessed for eligibility, and the taker fee discount will be effective from the following Tuesday at 00:00 (UTC) after the weekly review.
Higher Discounts Based on Volume
Users may qualify for higher taker fee discounts on eligible USDⓈ-margined perpetual and delivery contracts based on their weekly taker volume share on BTC, ETH, and BNB pairs, or weekly taker volume share excluding BTC, ETH, and BNB pairs. The specific discounts will be determined based on the user’s trading activity from Monday 00:00 UTC to Sunday 23:59 UTC of the previous week.
Additional Benefits and Conditions
Users who qualify for the Taker Program during the validity period and achieve a minimum 1% weekly taker volume share on USDC-margined perpetual contracts will receive a fee tier upgrade that is one level higher than their current fee tier.
Alternatively, users may qualify for a higher fee tier and corresponding taker fee discount on eligible USDT-margined perpetual and delivery contracts if they meet the requirements for weekly taker volume share on BTC, ETH, and BNB pairs, or excluding these pairs on USDⓈ-M perpetual and delivery contracts.
Example Scenario
For instance, if a user reaches a 2% weekly taker volume share on BTC, ETH, and BNB pairs and a 0.4% weekly taker volume share excluding these pairs, they will qualify for Fee Tier 3. Consequently, the user will enjoy a 20% discount on taker fees for trades on USDT-margined and USDC-margined perpetual and delivery contracts starting from July 30, 2024.
Terms & Conditions
- Weekly taker volume share on BTC, ETH, and BNB pairs and excluding these pairs will be reviewed weekly from Monday 00:00 UTC to Sunday 23:59 UTC.
- Fee tier adjustments will be updated automatically on the following Tuesday at 00:00 UTC based on the criteria.
- Users failing to meet the minimum criteria for three consecutive weeks will be removed from the Taker Program and cannot reapply during the validity period.
- Taker fee discounts are applied on top of the BNB fee discount and VIP tier rates.
- Binance reserves the right to amend or terminate the program at its discretion.
For more details, visit the official Binance announcement.
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