#交易流动性 taker, directly matching at the market price, consumes liquidity (taking orders), and excessive liquidity consumption can lead to greater price fluctuations, which can cause some people to be liquidated. To avoid being liquidated and criticized, exchanges like Binance set higher fees for takers to curb price fluctuations. Makers sell at a price higher than the market price and buy at a lower price, thus providing liquidity. To encourage liquidity accumulation, exchanges offer makers lower fees for orders, which is represented by the recent popular fee-free orders for USDC.