Waves.Exchange launches a market maker program enabling users to mine with their liquidity
As Waves.Exchange continues to grow, we would like to accelerate the growth by attracting more liquidity to USDN markets and enabling market makers to collect additional profits.
Therefore, we are excited to announce the launch of a market maker program. We will also reward market makers with a percentage of their liquidity volumes and compensate for rewards they are missing while not staking their USDN.
To qualify for participation you should follow these rules:
- Keep your liquidity in the following markets: BTC/USDN, USDT/USDN, WAVES/USDN, ETH/USDN.
- The minimum cumulative liquidity size for each side (bid and offer) is:
This is the minimum cumulative liquidity size required for participants’ orders from each side.
3. Bid/Offer Spread: 1%. A participant must open at least one Ask and one Bid order. (MaxAsk.price — MinBid.price) / (0.5*(MaxAsk.price + MinBid.price)) <= required_spread(0.01). The number of open orders is not limited and should be greater or equal to 1 on each side.
4. Qualifying Percentage: Support orders 50% of time, i.e. participants must hold their orders for at least 12 hours a day.
5. Only those matches qualify that occur in 5 seconds after opening an order. For example, if an order is matched in 3 seconds and then cancelled in 4 seconds, it will not be considered within the total traded volume.
6. Participants are prohibited from trading with themselves.
An example of how it works:
Consider the pair WAVES/USDN. Suppose a participant opens Ask for 11,500 WAVES at the WAVES rate of 1.65 USDN. The same participant opens Bid for 11,500 WAVES at 1.6418 USDN.
The spread is 1%: (1.65–1.6418) / (0.5*(1.65 + 1.6418)) = 0.004982077 < 0.01
The cumulative min. size (each side) = 11,500 WAVES
Therefore, the participant fulfilled the requirements and qualified to be rewarded.
- Market makers will be rewarded every Monday. All rewards are paid in the USDN stablecoin.
- Participants who successfully fulfill the requirements will be rewarded with a rebate equal to 0.1% of the participant’s matched volume for a specific pair from market making orders.
- Participants will receive compensation for staking rewards that equals 0.25% a week of their weekly average USDN balance.
- The matched volume is calculated only for orders that satisfy the requirements at the moment of the match.
Suppose a participant opens Bid and Ask orders with 20,000 USDN on each side. During the week, his total traded volume was 300,000 USDN and his average weekly balance was 30,000 USDN. Then, in a week, the participant receives a 300 USDN reward for volumes and another 70 USDN as a staking reward compensation.
Please keep in mind that Waves.Exchange charges a flat fee of 0.003 WAVES on each order.
How to participate?
Fill in this form. A participant will be approved (or rejected) as a market maker within 48 hours.
Still have questions?
Feel free to approach the Waves.Exchange customer support via our Telegram group. In the Waves.Exchange desktop and web apps, you can also contact customer support via the chat service in the bottom right corner.