Binance US zero trading fees for Spot Bitcoin markets. SIP idea

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Free spot trading for BTC/USD pair on Binance US!!!

You have to admit this is really good marketing. Maybe something Sovryn DAO should copy in the future to compete but with the RBTC/XUSD pair?

A bitcoin native DeFi protocol where you can buy RBTC with stablecoins at zero trading fees while holding onto your private keys and no KYC required. While keeping trading fees for margin trading and perp futures.

The disadvantage would be less AMM fees for SOV stakers, however it could drive lots more volume to other areas of the dapp like more loyal sovryn community users, margin trading, Perp Futures and Zero which boost protocol revenue to SOV stakers.

If Sovryn protocol is going to seriously compete with CEXs then we should always be looking for ways to outcompete them. It is the only way DeFi protocols will gain adoption is when they become more convenient to users than CEXs.

Love to hear peoples thoughts.

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It is great marketing and probably aimed at their CEX competitors, who might join this race to the bottom.I don’t think we can sustainably compete with giants like Binance on price. Our advantage is non-KYC and non-custodial. They have literally billions to play with whereas fees from AMM is a core revenue stream for Sovryn. I think we should observe whether the biggest DEXs like UNI will react to this or not, and that will be a signal for small players like us. At least they have scale themselves already, we don’t.

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Agreed. Nevertheless, I do think there’s scope for this and similar incentives to be deployed on a time-limited, promotional basis in support of major rollouts—e.g., Perpetuals or Zero—providing the development overhead isn’t prohibitive.

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