PANews reported on June 4th that according to The Block, Binance announced the launch of its first liquidity plan specifically targeting Altcoins, aimed at meeting market demand for greater diversity. The new "Altcoin Liquidity Enhancement Program" seeks to provide the most attractive market-making rebates in the industry to attract small and medium-sized liquidity providers focused on Altcoin market-making to supplement the exchange's existing liquidity plans. According to the plan details, market makers only need to focus on Altcoin trading pairs to participate, without mandatory involvement in mainstream cryptocurrencies like Bitcoin. The plan sets two rebate tiers: market makers achieving 0.5% market share in monthly trading volume can receive a 0.005% rebate, while those reaching 1% market share can receive a 0.01% rebate.
The first batch of supported trading pairs includes INIT/USDT, EOS/USDT, HYPER/USDT, PARTI/USDT, ICP/USDT, KERNEL/USDT, CFX/USDT, W/USDT, KMNO/USDT, IOTX/USDT, ONDO/USDT, TON/USDT, FIL/USDT, WCT/USDT, BABY/USDT, SXT/USDT, SYRUP/USDT, and STO/USDT. Catherine Chen, Binance's VIP and Institutional Business Head, stated that existing liquidity plans often favor large market makers, and the new plan will help small and medium-sized market makers gain a competitive advantage in the Altcoin market. Applicants must meet a threshold of over $20 million in trading volume in the past 30 days and demonstrate high-quality liquidity provision strategies. The plan's qualification review will begin on June 9th, with rebate distribution officially starting on June 17th.
