Binance, the world’s leading cryptocurrency exchange, has introduced a zero-fee trading initiative for six FDUSD spot and margin trading pairs in the thick of the surge in the cryptocurrency market lately.
Zero-Fee Trading Initiative By Binance
On Tuesday, Binance announced its plans to launch zero-fee trading for six different cryptocurrencies pairing with the FDUSD stablecoin. These include Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK).
Notably, a zero-fee trading was made to commemorate the FDUSD stablecoin when it was listed on Binance in July this year. The stablecoin was added by Binance in response to the termination of BUSD support. Also, the exchange is progressively delisting BUSD pair trades.
The six zero-fee trading pairs listed by the crypto exchange are BNB/FDUSD, DOGE/FDUSD, ETH/FDUSD, LINK/FDUSD, SOL/FDUSD, and XRP/FDUSD.
Following the announcement, the initiative is expected to go into effect on December 8 at 00:00 UTC. It will allow users to benefit from a zero maker-and-taker cost for the listed pairings above.
The announcement read:
Validity Period: 2023-12-08 00:00 (UTC) until further notice. All users will enjoy zero maker and taker fees for the above spot and margin trading pairs.
The crypto platform also noted that these spot and margin trading pairs will be excluded from several trading fees. These include BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions.
The company stated:
The above spot and margin trading pairs will be excluded from BNB fee discounts, fee rebates, or any other form of fee adjustments or fee promotions.
Furthermore, the trading volume of the aforementioned trading pairs will not be included in the calculation of the VIP tier volume. It will also not be included in any liquidity provider programs, if there are any.
The announcement also saw several other key information from the crypto platform. Binance has noted that it will disqualify any detected suspicious trades which include wash trades and trades that display attributes of self-dealing or market manipulation.
One-Hour Interest Fee Waiver By The Crypto Exchange
Another initiative that was introduced by the platform is the one-hour interest fee waiver. The new promotion was made for BTC, DOGE, ETH, GALA, GMT, LINK, MATIC, ORDI, SEI, SOL, TIA, and XRP.
The one-hour interest fee waiver is automatically granted to users who borrow these coins with Binance Margin. All users who borrow any of these cryptos at Binance Margin during the campaign period will not be charged interest on the borrowed amount for a period of one hour.
“During the Promotion Period, all users who borrow any of these eligible cryptocurrencies on Binance Margin will automatically receive a one-hour interest fee waiver,” the company stated.
However, this is valid until 12:00 PM on December 18, and after the given time the waiver will no longer be available.
Featured image from Top Class Actions, chart by Tradingview.com