PANews reported on June 4 that Binance announced the launch of its first spot liquidity program for altcoins only, according to The Block, aiming to meet the market's demand for greater diversity. The new "Altcoin Liquidity Enhancement Program" aims to provide the most attractive altcoin market-making rebates in the industry to attract small and medium-sized liquidity providers who want to focus on altcoin market making to supplement the exchange's existing liquidity programs. According to the details of the plan, market makers only need to focus on altcoin trading pairs to participate, and are no longer required to participate in the market making of mainstream currencies such as Bitcoin. The plan sets two rebate levels: market makers with a market share of 0.5% of the trading volume in the month can receive a rebate of 0.005%, and those with a market share of 1% can receive a rebate of 0.01%.

The first batch of supported trading pairs include INIT/USDT, EOS/USDT, HYPER/USDT, PARTI/USDT, ICP/USDT, KERNEL/USDT, CFX/USDT, W/USDT, KMNO/USDT, IOTX/USDT, ONDO/USDT, TON/USDT, FIL/USDT, WCT/USDT, BABY/USDT, SXT/USDT, SYRUP/USDT and STO/USDT. Catherine Chen, head of Binance VIP and institutional business, said that existing liquidity programs tend to favor large market makers, and the new program will help small and medium-sized market makers gain a competitive advantage in the altcoin market. Applicants must meet the threshold of more than $20 million in trading volume in the past 30 days and demonstrate a high-quality liquidity provision strategy. The qualification review for the program will begin on June 9, and the rebate distribution will officially start on June 17.