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Binance Creates First Altcoin-focused Spot Liquidity Program to Meet Demand for Deeper Liquidity and More Market Diversity
Liquidity Programs aim to provide liquidity and depth to the crypto market and incentivize liquidity providers through competitive fee structures and rebates. Liquidity providers play an important role in ensuring market liquidity and stability, by posting buy and sell orders on an ongoing basis. This helps to ensure users can execute their trades faster, more frequently, and with less slippage.
Currently the existing Liquidity Programs across major exchanges either require liquidity providers to market-make across all pairs on the exchange where the volume weightage skews towards bitcoin and other large cap tokens, or are focused on crypto-fiat trading pairs. This means smaller and mid-sized liquidity providers are not able to compete effectively against larger players.
Binance's new liquidity program is the first offered by a major cryptocurrency exchange to focus on altcoins, and a qualifying liquidity provider can enjoy up to 1 bps in rebates if they meet the volume requirements for selected altcoins. By comparison, existing spot maker programs rebates on major exchanges do not exceed 0.8 bps and require participants to provide liquidity for the exchange's full range of spot trading pairs. Participants with quality liquidity providing strategies and whose 30-day trading volume exceeds 20,000,000 USDT equivalent on Binance Spot and Margin or other platforms are invited to apply.
Altcoin LiquidityBoost Program will complement the largest crypto exchange's existing spot Liquidity Programs to give participants more choices:
Catherine Chen , Head of Binance VIP & Institutional commented,
Altcoin LiquidityBoost Program will support 18 altcoins at launch and Binance will continuously review the eligible altcoins to respond to market demand.
Interested liquidity providers can reach out to Binance VIP at mmprogram@binance.com with a record of their trading volume, or contact their Binance VIP key account coverage team if applicable. Learn more about Binance's spot Liquidity Programs here .
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