Binance's U.S. partner launched a "Market Maker Program" with rebates and rewards to boost liquidity on its platform.
The program provides incentives on a select group of trading pairs for providing liquidity —notably the top 25% of participants get a rebate of 0.005%, with the next 25% receiving 0.002%.
The exchange, the third largest in North America, is seeking to increase liquidity as volumes on the region's exchanges have plummeted over the past year, according to The Block Research.
Eligible participants will receive the rewards daily, after a grace period during onboarding, and all participants are eligible for 0 maker fees on the pairs included in the program. The top 75% of participants will receive 0 maker fees on all trading pairs in the Binance.US order book.
The exchange's program is different to others which primarily use volume-based tiers. Instead market makers are qualified using several factors which include, maker volume, spread, depth and the trading pair weight.
The U.S. exchange has been offering a new line of products every few weeks. On Sept. 7, it launched its own Ethereum staking product ahead of The Merge, with a starting annual percentage yield (APY) of 6% – just three months after launching its staking program.
This article has been updated to remove any reference to Binance.US being a subsidiary of Binance.
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