It's more than two years since Binance DEX launched, aiming to empower community growth and foster the industry's long-term vision of peer-to-peer (P2P) trading. The main advantage of the back-then new DEX was primarily its onchain matching engine and native Binance Chain blockchain.
Since then, the community-led decentralized exchange upgraded to a dual-chain infrastructure and now runs on Binance Chain (BEP2 token standard) and Binance Smart Chain (BEP20 token standard).
Binance DEX boasts over 54,000 active weekly traders and a weekly volume of $100 million across 161 trading pairs, including top assets such as BTC, ETH, BNB, MATIC, or DOGE, and BSC popular assets such as CAKE, BAKE. Binance DEX is available globally in 8 languages and provides intuitive trading to everyone who desires better privacy.
Binance DEX x Binance Smart Chain
A match made in heaven. Binance DEX is not only running in parallel with the open-source, decentralized BSC blockchain, but it also benefits from the BSC's growing ecosystem. This symbiosis allows Binance DEX to access new attractive projects with listing potential and BSC projects to trade outside of the BSC Ecosystem.
In just 9 months, BSC became the infrastructure of more than 650 projects, processing 9 million transactions per day and a TVL of $23 billion. Binance DEX already listed multiple BSC projects, with CAKE and BAKE being among the most popular trading pairs. It's only natural that more BSC projects will follow and seek DEX listing.
Binance DEX Trade Rush
Trade Rush is a community-led initiative that leverages the current market conditions and presents new incentives to grow Binance DEX, attract new listings, and provide market participants with higher earning potential.
Listing procedure change
The validators propose a new process to speed up and simplify the listing, where they jointly approve the listing requests from tokens who meet the following criteria:
- Listing is for token issued on BSC
- Any of the below:
- 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
These criteria should be constantly reviewed by the community and go through governance proposals and voting.
For a limited time, Binance will reimburse fees for listing proposal and listing for tokens that meet the criteria below:
- The token has more than 5,000 holders.
- The token has more than 100k monthly transactions.
In addition, all eligible projects will also benefit from:
- Integration with DEX aggregators, like OpenOcean
- Dual listing on Binance DEX and BSC Ecosystem DEX such as PancakeSwap
- BSC-led community marketing with exposure to millions of crypto enthusiasts and traders
Market Maker Program
Trade Rush also introduces a new Market Maker Program, with a 0.02% reward sponsored by Binance on each maker order trade they facilitate. To collect the reward, all the market makers must do is to register their Binance DEX addresses via the form.
The reward will be distributed to the market makers every month where the rewards exceed 1 BNB.
Are you interested in becoming a market maker on Binance DEX? Click here to apply!
Market Maker Cancel Fee Reimbursement
Binance will reimburse 80% of the fees paid by the Market Maker Program participants for all Order Cancel, as long as they meet the following criteria:
- The market maker has a minimum $10 million monthly trading volume
- The market maker's cancel ratio is below 95%
Like the market maker reward, the fee reimbursement will occur every month where the Order Cancel fee reimbursement exceeds 1 BNB.
Please note, that market makers with large self-cross will be ineligible for the reimbursement.
Another incentive on the list is the Binance DEX Affiliate Program. Binance will sponsor rewards for any application or platform that introduces new trade flows to Binance DEX.
The applications can be, and not limited to, any of the following types:
1. Wallets that integrate Binance DEX
2. Portfolio trackers and different tools that work with Binance Chain Wallet and other wallets to facilitate clients to trade directly with Binance DEX.
The reward will be 0.01% of all introduced trades. The distribution will occur every month where the rewards exceed 1 BNB.
Are you interested in becoming Binance DEX Affiliate? Click here to apply!
The current fees are set at 0.1% if paid in non-BNB assets, and 0.05% if paid in BNB. There were recent changes to the fees, which are highlighted in this announcement. If you want to explore all the fees and learn more about them, visit Binance DEX fee table.