Binance DEX is inviting its community members to become market makers or to join its affiliate program.
Binance Dex Incentives
In a recent blog post the company announced a number of initiatives designed to grow the decentralized exchange which operates on Binance Smart Chain. The initiative called “Binance DEX TradeRush” not only invites users to become market makers and affiliates, but also encourages additional projects to list on the DEX.
Market Maker or Affiliate
The TradeRush program introduces a new market maker program providing a 0.02% reward on every transaction the user facilitates. To participate the user must first register their Binance DEX address. Rewards are processed on a monthly basis with market makers receiving their rewards only if earnings are above 1 BNB. Market makers will also receive a cancellation fee reimbursement provided they meet the minimum $10 million monthly trading volume and their cancel ratio remains below 95%.
While being a market maker is outside the realms of possibility for the average user, the affiliate program offers another means for ordinary users to profit from Binance DEX. Rewards for affiliates are set at 0.1% of all trades for the introduced party. Much like the market maker program, affiliate rewards are paid on a monthly basis only if earnings are above the minimum threshold of 1 BNB.
A History of Success
In just over 2 years the Binance DEX has firmly established itself with over 54,000 weekly traders. Operating on both Binance Chain and Binance Smart Chain, Binance DEX records an impressive $100 million weekly trading volume across 161 trading pairs. Thanks to the solid backing of Binance, Binance DEX is a truly global platform available in 8 different languages. Among the many listed DeFi tokens on Binance DEX, PancakeSwap’s CAKE token and BakerySwap’s BAKE token are two of the most popular.
As part of the Trade Rush initiative, Binance DEX is encouraging new tokens to list on the platform. To qualify a token must be traded on BSC, and must meet one of the following additional criteria:
The token is already listed on prominent centralized exchange
The token project is a winner or shortlisted in BSC MVB programs
The token project has a large and active community
While seeking a listing incurs a fee, successful applicants may receive a refund if the token has more than 5,000 holders or more than 100,000 monthly transactions.
Concluding Thoughts
Binance DEX has enjoyed a hugely successful period and has played a vital role in the growth of Binance Smart Chain. Thanks to the market maker and affiliate programs third party users can enjoy a share in its continued development and growth.
Source : bsc.news
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