By Cryptocurrency trading platform Binance will begin offering a month of zero-fee trading for the ETH/BUSD spot trading pair, the company announced Tuesday (Aug. 23).
According to the announcement, the offer will go into effect at 12 AM UTC on Aug. 26 and end on Sept. 26 at the same time.
“All users will enjoy zero maker and taker fees for the ETH/BUSD spot trading pair,” the company said in a website post. “The ETH/BUSD spot trading pair will be excluded from BNB fee discounts, fee rebates or any other form of fee adjustments or fee promotions.”
In a note to VIP users, Binance said that trading volume on the ETH/BUSD spot trading pair will “be excluded from the 30-day volume calculation toward Trading Fee Level,” directing them to the company’s Enhanced Institutional Services for more information.
The announcement also tells spot liquidity providers that maker volume on the trading pair “will be excluded from the maker volume calculation toward Spot Liquidity Provider Program.”
PYMNTS reported earlier this month that the Ethereum blockchain is set to make the long-awaited switch to a much more environmentally-friendly Ethereum 2.0 on Sept. 19.
Read more: Ethereum 2.0 May Be Greener, but Is It Scalable Enough for Payments?
That move is expected to lead to a vast increase in scalability that will theoretically let it compete as a large-scale payments network on the level of Visa and Mastercard.
However, a recent research report from Bank of America suggested that many of the so-called “Ethereum killer” blockchains that have lured away customers in the past year remain a threat.
The “merge” from a power-hungry, bitcoin-style proof-of-work (PoW) consensus mechanism to the proof-of-stake (PoS) method used by the Ethereum killers will shrink its “energy consumption by over 99%.” It will also bring down barriers to entry for investors to generate yield as network validators change ETH’s supply/demand dynamics.
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