In accordance with our whitepaper, Binance will adjust the discount rate that can be applied to trading fees using the BNB token. The BNB discount rate will be adjusted from 50% to 25% at 2018/07/20 4:00 AM (UTC), as per the excerpt from our whitepaper below.
|1st Year||2nd Year||3rd Year||4th Year||5th Year|
|Discount Rate||50%||25%||12.5%||6.75%||no discount|
Additionally, to show our appreciation for the continuous support received from our users, Binance will introduce a new Tiered Trading Fee Discount Program starting (and applicable) from 2018/07/21 01:00 AM (UTC), detailed in the table below:
|Tier||BNB Balance||Past 30-Day Trading Volume||Maker||Taker|
|VIP 1||50 BNB||≥100 BTC||0.090%||0.100%|
|VIP 2||200 BNB||≥500 BTC||0.080%||0.100%|
|VIP 3||1,000 BNB||≥4,500 BTC||0.070%||0.090%|
|VIP 4||2,000 BNB||≥10,000 BTC||0.060%||0.080%|
|VIP 5||3,500 BNB||≥20,000 BTC||0.050%||0.070%|
|VIP 6||6,000 BNB||≥40,000 BTC||0.040%||0.060%|
|VIP 7||9,000 BNB||≥80,000 BTC||0.030%||0.050%|
|VIP 8||11,000 BNB||≥150,000 BTC||0.020%||0.040%|
- At 00:00 AM (UTC) every day, Binance will evaluate your total trading volume over the past 30-day period and your current BNB balance. If you meet both conditions required to be eligible for a specific Tier, your Tier level and corresponding Maker/Taker fees will be updated one hour later at 01:00 AM (UTC) each day.
For example: If you are currently in the General Tier and your trading volume in the past 30-day period was 500 BTC (VIP 2) and you have a balance of 50 BNB (VIP 1), then you will be upgraded to the VIP 1 Tier (Maker 0.09% / Taker 0.10%).
- The above trading fee discounts for each Tier are in effect for 24 hours from 01:00 AM (UTC).
- This trading fee program is independent of other existing programs. You are still able to benefit from other programs, such as the 25% fee discount when paying with BNB.
Taker: When you place an order that is immediately filled in its entirety (for example a market order) you are a “taker,” and you pay a “taker” fee for this. The idea is that you are “taking” the price you want, right now, generally by buying or selling limit orders sitting on the books.
Maker: When you place an order that doesn’t fill immediately (for example a limit order far from market price), you are a “maker,” and you can expect to pay a reduced “maker” fee for this. As noted above, this terminology comes from the fact that placing limit orders on order book helps to “make the market,” (it makes you a “market maker”).
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