Binance to introduce Discount Program and reshuffle its discount rates
Binance has officially confirmed today the launch of its Tiered Trading Fee Discount Program and the adjustment of the discount rate that can be implemented to trading fees using the BNB token.
Adjusting Binance’s discount price
The Malta headquartered exchange has said that it will be standardizing the discount rate on 20th July. The newly adjusted rate will then be applied to trading fees using the Binance (BNB) token. The BNB discount rates will vary from 50% to 25%. The above trading fee discounts for each Tier are in effect for 24 hours from 01:00 AM (UTC).
Binance posted the discount rates:
The Tiered Trading Fee Discount Program
Binance has planned to introduce a new Tiered Trading Fee Discount Program that is set for 21st July at 01:00 AM (UTC). It will be holding the program to express their appreciation to their users for their consistent support. “This trading fee program is independent of other existing programs,” said Binance.
As a rule of the program, Binance specified that on a regular basis at 00:00 AM (UTC) “Binance will evaluate your total trading volume over the past 30-day period and your current BNB balance”. If the users get successful to meet both the conditions that are needed “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.
Binance provided the detailed chart:
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