On July 19, a crypto exchange Binance announced that in accordance with its whitepaper, it 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% on July 20 at 4:00 AM (UTC).
Additionally, Binance will introduce a new Tiered Trading Fee Discount Program starting (and applicable) from July 21 01:00 AM (UTC).
- 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.