Binance updated its fiat trading market maker program today.

The main update is changing the previous single level to two levels, L1 and L2.

Now, the order execution volume ratio and fee rate for each level are Level 1: 0.5% and -0.005%, Level 2: 1.0% and -0.010%.

Additionally, a mechanism for weekly review of market maker accounts has been introduced.

Market makers mentioned that Binance previously did not have L1 and L2 levels, and now they may want to attract more small market makers to compete with large market makers.

Furthermore, it incentivizes large market makers to ascend to higher tiers to obtain more rebate incentives, further strengthening liquidity.

Honestly, I don't care much about market makers, but the weekly review mechanism for market maker accounts is still very necessary.

The last time a few market makers maliciously crashed the market after opening for retail investors is still fresh in my memory.

Binance's strengthening of market maker monitoring is to protect retail investors, which is quite good!