Binance Enhances VIP Investor Program with Flexible Earn Products and ETH Staking
Zach Anderson Mar 07, 2024 08:23
Binance, a leading cryptocurrency exchange, has upgraded its VIP Investor Program to include Simple Earn Flexible Products and ETH Staking, providing users with more opportunities to qualify for VIP tiers and unlock additional rewards.
Binance, the world's largest cryptocurrency exchange, has announced a significant upgrade to its VIP Investor Program. Effective from March 14, 2024, at 12:30 UTC, the exchange will merge its existing VIP Investor Programs for Simple Earn Locked Products and Dual Investment into a single, unified program. The upgraded program will also include subscription amounts from Simple Earn Flexible Products and ETH Staking.
This move is designed to make it more convenient for users holding assets in multiple Earn products to qualify for VIP levels 1-4 and unlock more rewards as a Binance VIP. The VIP tiers will be determined based on a user's 30-day average earn subscription amount and daily average BNB holdings. Users meeting the specified requirements will be automatically upgraded to the corresponding VIP tier between 01:00 and 06:00 UTC the following day if the program qualifies them for a higher level than their current standing.
The upgraded VIP Investor Program offers several benefits to users, including lower trading fees, customized limits, bespoke products, exclusive invitations to VIP gatherings and industry events, and dedicated support. The discounted fee structure is based on VIP levels, with higher levels offering greater discounts. Flexible trading limit configurations, such as spot and futures rate limits, increased API limits, withdrawals, and sub-accounts, are also available to VIP users.
To participate in the VIP Investors Program, users must be verified on the Binance platform. The exchange will review users' 30-day average earn subscription amount and daily average BNB holdings on a daily basis, with VIP tier upgrades taking effect automatically between 01:00 and 06:00 UTC the following day.
Binance clarified that WBETH holdings in the Earn wallet would be considered as part of users' subscription amount in ETH Staking. However, assets directly subscribed into Launchpads and/or Launchpools will not count towards the calculation of users' 30-day average earn subscription amount.
In the event that a user qualifies for a higher VIP level under another subprogram of the Binance VIP Program, the highest VIP level will apply. Users can visit the VIP Fee Structure or User Dashboard to confirm their current VIP level.
Binance reserves the right to amend or terminate the VIP Investor Program at its sole discretion. The exchange also noted that there might be discrepancies in the translated versions of the original announcement in English, advising users to refer to the original version for the most accurate and up-to-date information.
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