Binance has updated its fiat trading market maker program by adding a new EUR market tier with a 1% minimum maker volume percentage.
According to a recent notice, the crypto exchange platform has introduced a second tier to its EUR markets in Binance’s Fiat Liquidity Provider Program. The EUR market will have two trading tiers instead of one starting from March 24, 2025 at 00:00 UTC.
The first tier will require Binance users to meet a weekly maker volume percentage of 0.5%. Meanwhile, the second tier will require users to meet a maker volume of 1%.
The maker volume percentage is the percentage of a user’s weekly trading volume of maker orders in a specific fiat market compared to the total maker trading volume in that market across the platform. This metric determines eligibility for various tiers within the program, each offering different fee rebates.
Based on the notice, liquidity providers will be reviewed on a weekly basis in accordance with the new program mechanism.
In addition to the new tier, the platform will also update its maker fee rebate rate for EUR markets. EUR tier 1 users will receive a maker fee rebate of -0.005%, while EUR tier 2 users will be subjected to a maker fee rebate of -0.010%.
Similar to the liquidity providers, maker fee rebates will be updated weekly, starting from April 1, 2025 at 00:00 UTC. Maker fee rebates will be distributed to liquidity providers based on spot trading performance during the previous week across the selected fiat markets.
With the new update, the EUR markets becomes the sixth fiat currency to receive a second trading tier. The other fiat markets with two tiers include BRL, ARS, MXN, COP, and JPY.
Earlier today, the Australian authorities have warned crypto traders of an ongoing fraud tactic where scammers would impersonate Binance representatives and contact victims with fake warnings, such as claims that their Binance accounts have been breached.
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