#SwitcheoGreetings Day 3

Switcheo Exchange — Maker Rebates Program

It’s the season of giving, and there is no better time to introduce our Maker Rebates Program!

Starting from 7 January 2019, market makers will be able to enjoy a rebate when a trade is executed on their orders, giving them an effective trading fee of as low as -0.1%.

This program is meant to encourage an injection of liquidity into our exchange for traders willing to take exposure risk.

What is a maker?

A maker is someone who places an order that is not immediately matched and rests on the order book until it is matched and filled by another order. These orders help to “make the market” by adding liquidity to the order book.

When placed at a competitive price, these orders reduce price slippage when a trade is executed on the exchange, making Switcheo Exchange a more attractive trading venue.

In return for helping to build the liquidity pool, Switcheo Exchange will start to pay makers a rebate when their open order is filled by another trader.

What is a taker?

A taker is someone who places an order that is successfully matched and instantly executed against another existing, open order on the order book. These orders remove liquidity from the order book.

Being a taker eliminates price volatility as it allows for trades to be performed in real-time, without any delay. Trading and network fees are therefore charged to the taker when the order is executed as a taker.

A more detailed explanation of a maker and taker can be found here.

How it works

• The rebate program only apply to all trading pairs on the Ethereum blockchain.
• Orders that are submitted via our API and executed as a maker will receive 50% of the trading fees paid by the taker.
• Orders that are submitted via any other means (e.g. Switcheo Exchange, Trust Wallet, etc.) and executed as a maker will receive 25% of the trading fees paid by the taker.
• Rebates are accrued on every trade and will be paid out to the maker’s contract balance on a monthly basis. Payout will only occur when the accrued rebates exceed a minimum quantity as specified in this article. The first payout will only be made in the month of March 2019.
• A dashboard within Switcheo Exchange’s official web app will be available for market makers to track their rebates.
• At least 70% of the gross trading fees (i.e before rebates) will still be used to offset with SWTH tokens until cross-chain fee usage is completed.

Additional Information

• The fee schedule for trading on Switcheo Exchange can be found here.
• Visit awesome-switcheo to discover how you can trade via our API.

Terms and Conditions

Switcheo Network reserves the right to cancel and amend the Program at our sole discretion.

For more information on Switcheo, visit the following:

Website: https://switcheo.network
Exchange: https://switcheo.exchange
Twitter: https://twitter.com/switcheonetwork
Reddit: https://www.reddit.com/r/switcheo
LinkedIn: https://www.linkedin.com/company/switcheonetwork
Facebook: https://www.facebook.com/SwitcheoExchange
Telegram: https://t.me/switcheo
News & Updates: https://t.me/switcheoANN