After carefully considering feedback from the community, Binance has made changes to the schedule for the highly anticipated updates to its VIP Program, Standard Referral Mode, and Affiliate Program. Originally planned for June 7th, the updates will now go live on June 29th between 02:00 and 06:00 (UTC).
Among the exciting changes, Binance will be enhancing the spot and margin fee structure of its VIP Program.
As part of these updates, all VIP 3 and above users will enjoy a generous 40% reduction in their trading fees for spot and margin trades.Â
However, it’s worth noting that the previous promotion allowing VIP 4 and above users to enjoy spot trading fees equivalent to VIP 9 will come to an end with the implementation of the new updates.
Furthermore, the Standard Referral Mode and Affiliate Program will now only distribute referral commissions from invitees’ spot and margin trades if the invitees are VIP 2 or below. VIP 3 and above invitees will no longer receive referral discounts.
To be eligible for the Binance VIP Program, all users must complete the Know Your Customer (KYC) process.
Additionally, users with lower VIP levels who upgrade to VIP 3 or above based on their trading volume and meet the BNB holding requirements during the activity period will automatically be upgraded to the corresponding VIP level on the following day of their upgrade.
It’s important to note that the upgrade applies solely to spot and margin trading fees, while futures trading fees, margin borrowing interests and limits, and OTC Loan limits will remain unchanged for each VIP level. Once the VIP level is adjusted, users will enjoy the new benefits and fee structure for 30 days.
Users who have already participated in the VIP Invitation Program, are eligible to take part in this exciting activity as well.
While Binance strives to provide its products and services to as many users as possible, it may be subject to certain restrictions depending on legal and regulatory requirements in specific jurisdictions or regions.
Also Read: Binance.US Assures Safety of User Funds Post SEC Lawsuit
Binance retains the right to modify or impose additional restrictions on access and use of its products and services at any time, without prior notification.
